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DIB logs AED 4bn net profit in 9M

DIB logs AED 4bn net profit in 9M
The bank has recorded a net profit of AED 4.015 billion in 9M
DIB
DIB
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Dubai – Mubasher: Dubai Islamic Bank (DIB), listed on the Dubai Financial Market (DFM), has posted its financial results for the first nine months of 2019.

The bank has recorded a net profit of AED 4.015 billion during the nine-month period ended 30 September 2019, up 8% from AED 3.701 billion in the corresponding period of 2018, according to a press release.

Net operating revenue jumped by 14% to AED 6.87 billion during the January-September period of 2019 from AED 6.055 billion in the year-ago period, DIB said.

Total income grew by 20% year-on-year to AED 10.250 billion in the first nine months of this year, versus AED 8.532 billion.

DIB’s operating expenses were steady at AED 1.771 billion at the end of September 2019, compared to AED 1.754 billion in the first nine months of 2018.

The Islamic bank’s net financing and sukuk investments amounted to AED 185.7 billion, increasing up by 6% year-to-date (YTD).

Total Assets stood at AED 229.9 billion at the end of September 2019, growing by 3% YTD.

In the first half of 2019, DIB reported a net profit of AED 2.75 billion, versus AED 2.44 billion in the prior-year period.

Net operating revenue reached AED 4.69 billion in the first six months of the year, up 16% year-on-year from AED 4.03 billion, the lender said.