Press releases, Reports & Disclosures for Dubai Islamic Bank

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced its financial results for the first half of 2024. Key highlights include: - The balance sheet expanded to AED 323 billion, up 2.7% year-to-date (YTD). - Total income increased by 21% year-over-year (YoY) to AED 11.3 billion. - Pre-tax profit grew by 18% YoY to AED 3.72 billion. - Group net profit rose 8.6% YoY to AED 3.378 billion. - Net financing and sukuk investments reached AED 278 billion, up 3.8% YTD. - Customer deposits increased by 5.4% YTD to AED 234 billion, with CASA deposits now at 42%. - Impairment charges decreased by 32% YoY to AED 652 million. - Non-performing financing improved to 4.99%, down 41 basis points YTD. - The cost-to-income ratio increased by 140 basis points YoY to 27.8%. - Liquidity coverage ratio remains robust at 145.9%. - Return on assets (ROA) and return on tangible equity (ROTE) remained stable at 2.2% and 18%, respectively. - Common equity tier 1 (CET1) ratio stood at 13.7% and capital adequacy ratio (CAR) at 18.1%, indicating a well-capitalized entity. These results demonstrate DIB's strong financial performance and growth in various key metrics.

Dubai Islamic Bank P.J.S.C. has released a review report and condensed consolidated interim financial information for the six-month period ending on June 30, 2024.

A letter dated 28 May 2024, addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, informs him of an upcoming Board of Directors meeting for Dubai Islamic Bank. The meeting is scheduled for Tuesday, 4 June 2024, at 3:30 PM. The board will discuss routine business matters that do not impact the share price. The letter is signed by Mohamed Wahb, Board Secretary of Dubai Islamic Bank, and a copy is sent to H.E. Dr. Maryam Buti Al Suwaidi, CEO of the Securities and Commodities Authority in Abu Dhabi, UAE.

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has reported its Q1 2024 results. The bank's balance sheet expanded by 4% year to date (YTD) to AED 327 billion. Total income increased by 27% year on year (YoY) to AED 5.6 billion, and net profit (pre-tax) was AED 1.85 billion, up 22% YoY. Asset quality improved, with net financing and sukuk investments reaching AED 277 billion, up 3% YTD. The bank also recorded a net operating profit of AED 2.15 billion, a 6.7% YoY increase. Customer deposits grew to AED 236 billion, up 6% YTD. Impairment charges were down by 40% YoY to AED 299 million. A settlement was reached between DIB and NMC Healthcare.

The document is a review report and condensed consolidated interim financial information for Dubai Islamic Bank P.J.S.C. for the three-month period ending on 31st March 2024. This report is of interest to those involved in finance and investing.

The Board of Directors of the Dubai Islamic Bank held a meeting on 23 April 2024. During this meeting, they approved the Consolidated Financial Statements for the first quarter of 2024, ending on 31 March, which reported a net profit of AED 1,664.4 million. They also discussed normal business activities that do not affect the share price. The meeting was communicated to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, and Dr. Maryam Buti Al Suwaidi, the Chief Executive Officer of the Securities and Commodities Authority in Abu Dhabi.