In the first half of the year, Dubai Islamic Bank (DIB), the biggest Sharia-compliant lender in the United Arab Emirates, reported a group net profit of Dh3.38 billion, up 8.6% from the same period the previous year.
The total income of Dh11.29 billion, up from Dh9.31 billion the previous year, contributed to the earnings growth. The bank called this a “solid expansion” of 21.3 percent on an annual basis.
In addition, net financing and sukuk investments have increased to Dh278 billion, or 31.8%, for the year thus far. Sukuk and gross new underwriting investments totaled Dh43.04 billion in the first half of 2024.
Meanwhile, customer deposits increased to Dh234 billion, up 5.4% year over year. The deposit contribution from current account savings accounts (CASAs) is now 42%, up 500 basis points from 37% at the start of the year. The impairment charges for the first half of 2023 were Dh652 million, down 32% YoY from Dh959 million.
Meanwhile, non-performing financing (NPF) decreased to 4.99% from 5.40% in 2023, reflecting a 41 basis point decrease this year.
Lazeez Mayfair is in an enviable position on Duke Street, next to London’s famous department…
Founded by Felipe Castro Erpel, the company focuses on helping businesses integrate AI into existing…
The all-in-one influencer campaign management platform consolidates creator discovery, outreach, contracting, and relationship management into…
Wiztrust’s PR‑for‑GEO approach and its partnership with GetMint give communication leaders AI audits to see…
Self-identified "Harmful AI System Survivor"
The future of content is faster, smarter, and more emotionally connected. I believe we’re moving…