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Dubai Islamic posts $232m net profit for Q1 DUBAI, 4 hours, 20 minutes ago Dubai Islamic Bank, the largest Islamic bank in the UAE and the second largest Islamic bank in the world, has posted a net profit of AED853 million ($232.2 million) for the first quarter (Q1) of the year, rebounding strongly from last quarter. Q1 highlights: • Total income reached AED2.8 billion as the bank continued to display resilience in the given economic scenario. • Profit before impairments rose to AED1,614 million compared to AED1,592 million in the same period last year. • Operating expenses of AED612 million were lower by 27% year on year vs AED839 million, driven by stringent cost discipline and materializing of substantial integration cost synergies. ....
DIB profit rebounds to Dh853m in Q1 DIB is well-positioned to connect with the country’s large-scale economic programmes. Wam The UAE’s largest Islamic bank recorded a total income of Dh2.8 billion. Dubai Islamic Bank reported on Wednesday a strong quarter-on-quarter rebound in net profit to Dh853 million in first quarter, signifying what it termed “a clearly improving economic trend.” The UAE’s largest Islamic bank said in a statement that its total income reached Dh2.8 billion as the bank continued to display resilience in the given economic scenario. Profit before impairments rose to Dh1.614 billion compared to Dh1.592 billion in the same period last year while group net profit dropped to Dh853 million year on year. ....
UAE- DIB net profit dips to Dh3.16b in 2020 on prudent provisioning menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.