Islamic Finance

Dubai Islamic Bank reverses falling net profit growth rate in FY 2017


Dubai Islamic Bank reverses falling net profit growth rate in FY 2017

Dubai Islamic Bank (DIB) registered a net profit rise for 2017 of 11.21 percent year-on-year, reversing two consecutive years of falling growth rates since reaching a high of 63.19 percent in 2014, according to Salaam Gateway calculations.

The United Arab Emirates' largest Shariah-compliant bank by assets today reported a net profit of 4.5 billion Emirati dirhams ($1.23 billion) for the year ending Dec 31, 2017 from 4.05 billion dirhams in the previous year.

($1 = 3.67 Emirati dirhams)

(Reporting by Emmy Abdul Alim emmy.alim@thomsonreuters.com; Editing by Mily Chakrabarty)

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tags:

Banking
Earnings
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Emmy Abdul Alim