Dubai – Mubasher: Dubai Islamic Bank (DIB) has logged net profits attributable to the owners worth AED 4.04 billion in the first nine months (9M) of 2022, an annual surge of 34% from AED 3.05 billion.

The total net income reached AED 9.87 billion in the January-September 2022 period, up 10% year-on-year (YoY) from AED 8.94 billion, according to the financial results.

On the other hand, the total assets plummeted to AED 274.85 billion in 9M-22, compared to AED 279.08 billion as of 31 December 2021.

The basic and diluted earnings per share (EPS) settled at AED 0.52 in 9M-22, versus AED 0.36 in 9M-21.

During the third quarter (Q3) of 2022, the net profits attributable to the owners of DIB amounted to AED 1.37 billion, higher than AED 1.20 billion in the year-ago period.

The total net income surged to AED 3.60 billion in Q3-22 from AED 3.10 billion in Q3-21, whereas the basic and diluted EPS rose to AED 0.18 from AED 0.15.

Mohammed Ibrahim Al Shaibani, Chairman of DIB, noted: “The bank’s Q3-22  profitability metrics and ratios have been remarkable with 10% YoY growth in total income reaching nearly AED 10 billion and ROA 2.0% (+50 bps YTD) and RoTE 16.8% (+380 bps YTD) surpassing our full year guidance’s and exhibiting its dynamic capabilities despite the on-going subdued global economic environment.”

Adnan Chilwan, Group CEO of DIB, said: “Amidst the on-going unprecedented environment, the bank’s incredible performance to date with net profits rising by 34% YoY to reach AED 4.10 billion has been the highest ever nine months performance in the bank’s history. This has led to our margins to further improve by 30 bps YTD.”

In the January-March 2022 period, the UAE-based lender posted a leap in net profit attributable to the shareholders to AED 1.33 billion from AED 845.96 million in Q1-21.