30 October 2011
The UAE's largest bank that complies with Shariah rules has posted a 10 per cent gain in its third-quarter profits, beating the predictions of analysts.
The UAE's largest bank that complies with Shariah rules has posted a 10 per cent gain in its third-quarter profits, beating the predictions of analysts.
Dubai Islamic Bank (DIB) said yesterday that net income during the three-month period rose to Dhs298 million ($81.1 million) from Dhs270 million in the same period a year earlier, according to a statement.
"DIB remains focused on delivering sustainable growth through prudent management of costs and a strategy of targeting quality business," chairman Mohammed Ibrahim Al Shaibani said. "With a stable, well-diversified funding base in place, the bank will continue to play a key role in the UAE economy."
DIB's total assets stood at Dhs93.5 billion ($25.4 billion) at the end of the quarter.
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