Dubai Islamic Bank 2019 profit nudges up 2%, assets rise by 4% beating industry slowdown
UAE’s largest Islamic bank reported a 2% increase in net profit to 5.103 billion dirhams ($1.39 billion) compared to 5.004 billion dirhams in 2018.
Asset growth for Dubai Islamic Bank was 4% for 2019 to 231.9 billion dirhams, the bank said in a statement on Thursday (Feb 13).
This beat UAE’s overall Islamic banking sector asset growth of 1.75%, according to Salaam Gateway calculation of preliminary data from the central bank. However, it is down from the 7.9% growth in assets DIB reported for 2018.
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