Dubai Islamic Bank's Total Income Hits AED3.4 Bn In Q1, Up 26 Percent YoY

DUBAI, (UrduPoint / Pakistan Point News / WAM - 23rd Apr, 2019) Dubai Islamic Bank, DIB, posted AED1,355 million in profits for Q1, 2019, up 12 percent from AED1,211 million in the corresponding period of 2018, according to the bank’s filing to the Dubai Financial Market, DFM.

DIB’s total income hiked 26 percent YoY to AED3.4 bn during the first three months of 2019, with net operating revenue growing to AED2.3 bn, up 17 percent from AED1.971 bn in the corresponding period last year.

"The banking sector remains resilient with strong capitalisation and rising profitability.

DIB continues to progress with a robust set of first quarter results with total income growing by 26 percent to reach to AED 3.4 bn driven by consistent strong growth across our businesses," Mohammed Ibrahim Al Shaibani, Chairman of DIB, commented.

DIB’s total assets stood at AED226.5 billion during the three-month period ended last March.

"Global market optimism is returning as reflected by the positive index performances as well as increasing trade volumes in the UAE financial markets since the start of the year," Al Shaibani concluded.