Dubai Islamic Bank (DIB)

Last update: 3 April 02:59 PM market time.

7.37

0.08

1.10%

Open 7.40

Previous Close 7.29

High 7.43

Low 7.30

Stock Statistics

Volume 4,549,294

Turnover 33,630,881.96

All data are 15 minutes late during market session

News

The hired banks will arrange fixed income investor calls

12 April 2021 10:59 AM DIB hires banks to arrange USD Sukuk issuance

Dubai – Mubasher: Dubai Islamic Bank (DIB) has hired banks to arrange for a planned issuance of US dollar-denominated Additional Tier 1 Sukuk that are non-callable for six years, Reuters reported. To arrange fixed income investor calls starting on …

Sukuk and Islamic Finance

AT1 bonds are the riskiest debt instruments banks can sell

5 April 2021 04:04 PM DIB plans to issue US dollar AT1 Sukuk

Dubai – Mubasher: Dubai Islamic Bank (DIB) plans to issue the US dollar-denominated Additional Tier 1 (AT1) Sukuk within this week, two sources told Reuters. AT1 bonds, which are the riskiest debt instruments banks can sell, are perpetual in …

Banking and Finance

The dividend distribution aggregates at a total amount of AED 1.445bn

17 March 2021 00:20 PM DIB’s shareholders approve 20% dividend

Dubai – Mubasher: The ordinary general meeting (OGM) of Dubai Islamic Bank (DIB) has agreed to distribute cash dividends, equivalent to 20% of the company’s paid-up capital. The cash dividend distribution aggregates at a total amount of AED 1.445 …

General Assembly

Both banks announced their knowledge of the resolution

14 March 2021 00:36 PM DXBE's debt conversion to have no negative financial impact on Emirates NBD, DIB

Dubai – Mubasher: Emirates NBD and Dubai Islamic Bank (DIB) do not expect any negative impact on their financial position from the AED 4.27 billion debt conversion deal between DXB Entertainments and developer Meraas. Both banks announced their …

Banking and Finance

The combined net profits of the four largest banks in the UAE declined by 35%

10 March 2021 09:38 AM UAE banks' profitability expected to remain under pressure in 2021 - Moody's

UAE - Mubasher: UAE banks' profitability is expected to remain under pressure in 2021, as pressure on net interest income, their main source of revenue, continues and provisions rise further, according to Moody's Investors Service. In its recent …

The company will also allow the board to issue additional Tier 1 non-convertible Sukuk

21 February 2021 11:00 AM DIB's shareholders to authorise board to issue senior, additional Tier 1 Sukuk

Dubai – Mubasher: The shareholders of Dubai Islamic Bank (DIB) will consider authorising the board to issue any senior Sukuk or similar instruments, which are not convertible into shares, at a total amount not exceeding $7.5 billion. During its …

General Assembly

The bank's net income rose to AED 9.47bn in 2020

16 February 2021 09:55 AM DIB sees lower profits in 2020; dividends recommended

Dubai – Mubasher: The consolidated financial results of Dubai Islamic Bank (DIB) reported a decrease in net profits attributable to the owners to AED 3.293 billion in 2020 from AED 5.014 billion in 2019. The bank's net income rose to AED 9.47 …

Banking and Finance

The Sukuk was oversubscribed 5.7 times

24 November 2020 01:42 PM DIB lists $1bn Sukuk on Nasdaq Dubai

Dubai – Mubasher: Dubai Islamic Bank (DIB) has celebrated the listing of a $1 billion Sukuk on Nasdaq Dubai, according to a press release on Tuesday. With a profit rate of 4.625% per annum, the Sukuk was oversubscribed 5.7 times for attracting …

Banking and Finance

DIB has achieved the lowest yield by any bank globally

15 November 2020 10:08 AM DIB closes lowest yield AT1 Sukuk

Dubai – Mubasher: Dubai Islamic Bank (DIB) has successfully closed a perpetual non-call 5.5 years Additional Tier 1 Sukuk worth $1 billion, with a profit rate of 4.625% per year. Through this transaction, which is the only AT1 Sukuk from the GCC …

Banking and Finance

The banks will act as joint lead managers and joint bookrunners

11 November 2020 02:22 PM DIB mandates banks for additional Tier 1 Sukuk issuance

Dubai – Mubasher: Dubai Islamic Bank (DIB) has authorised banks to arrange investor calls for a planned issuance of benchmark fixed-rate additional Tier 1 perpetual Sukuk, Reuters reported. The mandated banks comprise DIB, Emirates NBD Capital, …

Banking and Finance

The DIB has closed the integration project in 283 days

2 November 2020 10:41 AM DIB completes integration of Noor Bank

Dubai – Mubasher: Dubai Islamic Bank (DIB) has successfully completed the integration of Noor Bank with its banking activities, according to a press release on Monday. The acquisition boosts DIB’s position as one of the world's largest Islamic …

Banking and Finance

The rise in assets is driven by higher deposits

1 November 2020 00:55 PM Emirati banks report 11% higher assets in 9M

UAE – Mubasher: The total assets of ten Emirati banks jumped by 11.4% to AED 2.681 trillion during the first nine months of 2020, when compared to the same period of 2019, according to the Emirates News Agency (WAM). The ten banks comprise First …

Banking and Finance

The services will be suspended on 28-31 October

26 October 2020 10:14 AM DIB to suspend services for final merger phase with Noor Bank

Dubai – Mubasher: Dubai Islamic Bank (DIB) will temporarily suspend its services to complete the final phase of its merger with Noor Bank. The services will be suspended on 28-31 October, according to the bank's disclosure to its customers. In …

Banking and Finance

The bank’s net income declined to AED 6.94bn

21 October 2020 10:08 AM DIB logs AED 3.13bn profits in 9M

Dubai – Mubasher: Dubai Islamic Bank (DIB) registered net profits attributable to the owners of AED 3.13 billion in the first nine months of 2020, down from AED 3.97 billion during the same months in 2019. The bank’s net income declined to …

Banking and Finance

The total assets of seven DFM-listed banks rose to AED 1.347trn

19 August 2020 11:13 AM Listed Emirati banks see 8.2% higher assets in H1-20

UAE - Mubasher: The total assets of the 18 listed Emirati banks increased by 8.2% to AED 3 trillion in the first half (H1) of 2020, when compared to the corresponding period of 2019, according to the Emirates News Agency (WAM). The total assets of …

DIB's net income registered AED 4.723bn

22 July 2020 09:41 AM DIB sees 23% lower net profits in H1-20

Dubai – Mubasher: Dubai Islamic Bank (DIB) saw net profits of AED 2.118 billion in the first half (H1) of 2020, down by 23% from AED 2.753 billion during the same period of 2019. The bank's total assets jumped by 27% to AED 294.797 billion in the …

Banking and Finance

The issuance was a tap on a $1 billion Sukuk

30 June 2020 00:51 PM DIB lists $300m Sukuk on Nasdaq Dubai

Dubai - Mubasher: Nasdaq Dubai has welcomed Dubai Islamic Bank's (DIB) listing of $300 million Sukuk, aiming to support the bank's customers amid the challenging market conditions. The issuance was a tap on a $1 billion Sukuk listed by the bank on …

Banking and Finance

The bank has set a margin of return at 240 bps

24 June 2020 09:42 AM DIB sells $300m in 2026 Sukuk tap

Dubai - Mubasher: Dubai Islamic Bank (DIB) has sold $300 million in the reopening of its existing Sukuk issuance due in 2026, according to Reuters. The bank has set a margin of return at 240 basis points (bps) over midswaps for the reopening of …

Banking and Finance

The bank has tightened the price guidance for the notes

23 June 2020 01:24 PM DIB likely to sell $200m worth of its Sukuk

Dubai - Mubasher: Dubai Islamic Bank (DIB) is forecast to sell an instrument of over $200 million of its existing Sukuk issuance due in 2026, Reuters reported on Tuesday. The bank has tightened the price guidance for the notes at 240-245 basis …

Sukuk and Islamic Finance

DIB is the leading UAE-based Sukuk issuer

16 June 2020 10:20 AM Nasdaq Dubai lists DIB's $1bn Sukuk

UAE - Mubasher: Nasdaq Dubai has welcomed Dubai Islamic Bank's (DIB) $1 billion Sukuk listing, according to a press release on Tuesday. Aiming to reinforce the DIB's measures to support customers and companies amid the challenging market …

Banking and Finance

The Sukuk was sold at 245 basis points over midswaps

10 June 2020 10:10 AM DIB sells $1bn Sukuk; oversubscribed 4.5 times

Dubai – Mubasher: Dubai Islamic Bank (DIB) has sold long five-year US dollar Sukuk at a total value of $1 billion to close an offering that was postponed from earlier this year, due to the unstable financial market, according to Reuters. Due on 16 …

Banking and Finance

DIB reported net financing and Sukuk investments of AED 216bn

30 April 2020 10:52 AM DIB's net profits drop to AED 1.1bn in Q1-20

Dubai – Mubasher: The net profits attributable to the owners of Dubai Islamic Bank (DIB) dropped by 17.1% to AED 1.111 billion during the first quarter of 2020, compared to AED 1.336 billion in the same period of 2019. The bank's total assets …

Financial Results

Noor Bank has an exposure of $116 million to the health group

5 April 2020 10:39 AM DIB's exposure to NMC Health amounts to $425m

Dubai - Mubasher: The total liabilities of NMC Healthcare Group's operating companies to Dubai Islamic Bank (DIB) have reached AED 1.6 billion ($425 million) as of 31 March, representing nearly 0.7% of the bank's assets. DIB's subsidiary, Noor …

Banking and Finance

DIB will distribute AED 0.35 per share for 2019

16 March 2020 10:05 AM DIB’s OGM approves 35% dividends for 2019

Dubai – Mubasher: The ordinary general meeting (OGM) of Dubai Islamic Bank (DIB) has agreed on the board's recommendation for a 35% cash dividends or 35 fils per share after the bank recorded the highest net profits in its history in 2019. During …

Profitability of the UAE’s four largest banks will be resilient

27 February 2020 00:42 PM UAE largest banks’ profitability to remain resilient in 2020 - Moody's

UAE – Mubasher: The profitability of the UAE’s four largest banks will likely remain resilient in 2020, benefitting from the strong public-sector loan growth, according to a recent report by Moody's Investors Service (Moody's) First Abu Dhabi Bank …

Banking and Finance