DIB generates AED 5.4bn profits in 9M-24 - Mubasher Info

DIB
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Dubai – Mubasher: Dubai Islamic Bank (DIB) achieved net profits amounting to AED 5.44 billion in the first nine months (9M) of 2024, an annual rise of 13% from AED 4.82 billion.

The UAE-based lender registered a total income valued at AED 16.99 billion in 9M-24, up 17% year-on-year (YoY) from AED 14.54 billion, according to the financial results.

Total assets rose by 4.70% to AED 329.16 billion as of 30 September 2024 from AED 314.29 billion at the end of December 2023. Meanwhile, customer deposits grew by 6.70% to AED 236.86 billion from AED 222.05 billion.

Adnan Chilwan, Group CEO of DIB, commented:  “All business units achieved positive performance with both corporate  and consumer portfolios adding new net lending of more than AED 7 billion across several sectors.”

“Along with a solid growth in the fixed income book, the bank’s financing and sukuk portfolio reached AED 286 billion, up 7% beating year-end guidance by 180 bps,” Chilwan added.

In the first half (H1) of 2024, the bank’s net profits jumped by 8.60% to AED 3.37 billion from AED 3.11 billion.

Source: Mubasher Source: {{details.article.source}}