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12-10-17
Dubai Islamic Bank recorded 26 percent profit
(MENAFN) United Arab Emirates' largest Sharia-compliant lender, Dubai Islamic Bank (DIB), recorded a 26 percent growth in third-quarter net profit on Wednesday as higher income from Islamic financing and investing balance.
The bank stated that in the three months to September 30, it made Dh1.11 billion compared to a profit of Dh876.3 million in the same period in 2016.
In reference to average credit growth for the UAE banking industry, DIB's Chairman Mohammed Ibrahim Al-Shaibani said, "With the solidity and resilience displayed by UAE's financial market, credit growth is expected to more than double to 5 percent in 2018".
MENAFN1210201700450000ID1095943653
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