Dubai Islamic Bank first half net profits soar 113 percent
Dubai Islamic Bank said on Saturday its net profit rose 113 percent in the first half of the year to 1.5 billion dirhams (408.7 million dollars) because of diversification.
The bank said its assets rose by 51 percent on an annual basis, to stand at 75.5 billion dirhams (20.5 billion dollars) at the end of June.
Dr. Mohammad Khalfan bin Kharbash, UAE Minister of State for Finance and Industry and Chairman of DIB, said: “The bank’s impressive performance during the first half of this year reflects the success of our strategy to diversify our products and services to meet the growing demands of the market.”
DIB is the oldest Islamic bank in the United Arab Emirates. It was founded in 1975, and is 30-percent owned by the Dubai government. Source
The bank said its assets rose by 51 percent on an annual basis, to stand at 75.5 billion dirhams (20.5 billion dollars) at the end of June.
Dr. Mohammad Khalfan bin Kharbash, UAE Minister of State for Finance and Industry and Chairman of DIB, said: “The bank’s impressive performance during the first half of this year reflects the success of our strategy to diversify our products and services to meet the growing demands of the market.”
DIB is the oldest Islamic bank in the United Arab Emirates. It was founded in 1975, and is 30-percent owned by the Dubai government. Source
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