Pre-tax profit up 27% to $2.45 billion; Customer deposits up almost 12% to $67.8 billion; NPF ratio improves 140bps to $2.48 billion
Dubai Islamic Bank
Latest in Dubai Islamic Bank
Dubai
Dubai Islamic Bank’s H1 pre-tax profit surges past $1 billion mark
Total income up 21% to $3.08 billion; Pre-tax profit up 18% to $1.01 billion; Balance sheet rises 2.7% to $87.95 billion
banking services
Dubai Islamic Bank offers compensation to affected customers
Company says the new system has ‘stabilised’; Customers to be offered ‘Walaa Rewards’ and reversal of charges
Dubai
Dubai Islamic Bank leads $3.25bn financing for GEMS Education
The deal, described as the largest leveraged buy-out transaction in the region, was underwritten by a consortium of UAE banks
Al Maktoum International
UAE petrol prices; Dubai’s best schools; $8.2bn rain drainage plan; real estate booming; weather forecast – 10 things you missed this week
Outstanding schools in Dubai, UAE petrol prices, a booming real estate market, rain and fog forecasts and more of the top news stories this week
banking services
Dubai Islamic Bank resolves major issues after transitioning services to new platform, customers to receive delayed salaries
The bank has recently migrated certain functions to ‘The Temenos Banking Cloud’ platform to enhance the quality of services provided
banking business
Dubai Islamic Bank lodges record net profit of $1.91bn for 2023
The bank also announced a 43% rise in total income to $5.45 billion, up 43 per cent compared to last year; Proposes a dividend of 45%
Dubai
Dubai Islamic Bank’s income grows 47 percent to $3.95bn for first nine months
Bank’s balance sheet crosses the AED300 billion-milestone for the first time, reaching AED313 billion ($85.23 billion) up 9% YTD
banking industry
Dubai Islamic Bank picks up 20% stake in Turkey’s TOM Group
DIB has the option to increase shareholding to 25 percent within 12 months; valuations not disclosed
banking
Dubai Islamic Bank reports 15% rise in its net profit to AED3.11bn in H1, 2023
The bank said the improvement in its performance was driven by rising core revenues, controlled impairments and effective cost management
Dubai
DIB lists its $750 million maiden sustainable Sukuk on Nasdaq Dubai
The new listing will take the total value of ESG-linked bonds and Sukuk listed on Nasdaq Dubai to $16.825 billion
banking business
Dubai Islamic Bank, Al Ramz Corporation strikes strategic partnership for capital market services
Under the partnership, DIB will provide brokerage and related services to its clients through Al Ramz Capital, a subsidiary of the Al Ramz Corporation
banking
Dubai Islamic Bank income jumps 7 percent ‘despite global headwinds’
The bank’s net profits amount to 2.7 billion and also saw an increase in total income rose to AED6.3 billion
Dubai Islamic Bank
Our nation’s banks and financial entities must step up to the challenge of financial literacy
A failure to equip our country’s youth with the tools for long-term financial freedom is a failure to invest in national success, economic growth, and individual happiness. Banks must do their part.
Dubai Islamic Bank
EDB, DIB ink credit scheme deal targeting SMEs in priority sectors
EDB to provide the credit guarantee programme to DIB’s SME customers, while DIB will offer up to AED10m financing, with half of the facility amount guaranteed by EDB
Dubai Islamic Bank
Dubai Islamic Bank lists $750m sukuk, the UAE’s first in 2022
bank says that the new sukuk issuance was oversubscribed by more than 2.5 times amid strong investor demand
Corporate tax UAE
Dubai Islamic Bank expects UAE to remain globally competitive after new corporate tax
Dubai Islamic Bank CEO says the new UAE tax regime is “welcome”