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DIB's net profits down in H1-21

DIB's net profits down in H1-21
The bank's net income amounted to AED 4.628 billion in H1-21
DIB
DIB
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Dubai – Mubasher: The net profits attributable to the owners of Dubai Islamic Bank (DIB) declined to AED 1.853 billion during the first half (H1) of 2021, compared to AED 2.12 billion in the corresponding period of 2020, according to the bank's consolidated financials for the six-month period ended 30 June 2021.

The bank's net income amounted to AED 4.628 billion in H1-21, down from AED 4.723 billion in H1-20.

The basic and diluted earnings per share (EPS) settled at AED 0.21 in the first six months of 2020, against AED 0.26 in the same period of 2020.

During the second quarter (Q2) of 2021, the bank achieved AED 1.007 billion in net profits, down from AED 1.009 billion in the same quarter of 2020.

The Director-General of The Ruler’s Court of Dubai and Chairman of DIB, Mohammed Ibrahim Al Shaibani, said: "As the world slowly comes out of the shadows of the pandemic, the GCC region is well on its way to return to normalcy. UAE, in particular, has been phenomenal in the way it has managed the COVID-19 situation, right from the time it erupted until today when the country holds the proud distinction of having administered the most vaccines in the world per capita."

Meanwhile, the Board Member and Managing Director, Abdulla Ali Obaid Al Hamli, commented: "With the introduction of DIB’s new business banking proposition, our customers whose businesses are now returning to normalcy, can benefit from further enhanced experiences and services across all the delivery channels reinforced by a robust digital platform in place."

It is noteworthy to mention that during the first three months of 2021, DIB's net profits decreased to AED 845.962 million, compared to AED 1.111 billion in the corresponding period of 2020.