Dubai – Mubasher: Dubai Islamic Bank (DIB) registered net profits valued at AED 3.37 billion in the first half (H1) of 2024, up 8.60% from AED 3.11 billion in H1-23.

The lender posted 21.30% year-on-year (YoY) higher total income at AED 11.29 billion in H1-24, versus AED 9.30 billion, according to the financial results.

Basic and diluted earnings per share (EPS) increased to AED 0.42 in the first six months (6M) of 2024 from AED 0.39 during the same period a year earlier.

Total assets rose by 3% to AED 322.65 billion at the end of June 2024 from AED 314.29 billion as of 31 December 2023, while the customers’ deposits jumped by 5% to AED 234.01 billion from AED 222.05 billion.

Financials for Q2

In the second quarter (Q2) of 2024, the profits reached AED 1.71 billion, marking a surge from AED 1.60 billion in Q2-23.

Total income climbed to AED 5.68 billion in Q2-24  from AED 4.87 billion in Q2-23, while the basic and diluted EPS grew to AED 0.22 from AED 0.20.

Mohammed Ibrahim Al Shaibani, Chairman of DIB, said: “The bank’s leadership in the Islamic Capital Markets space is clearly visible, not just through facilitation of transactions globally, but also in its own fundraising particularly in the ESG space, having raised over AED 10 billion in the last couple of years.”

As of 31 March 2024, DIB generated AED 1.66 billion in net profit, compared to AED 1.50 billion in Q1-23.