Dubai – Mubasher: The consolidated interim financials Dubai Islamic Bank (DIB) recorded AED 3.058 billion net profits attributable to the owners during the first nine months of 2021, down from AED 3.125 billion in the year-ago period.
The bank's net income increased to AED 7.148 billion in the January-September period of 2021, compared to AED 6.935 billion in the same period of 2020.
Meanwhile, the bank's net operating revenues rose to 3% year-on-year (YoY) to AED 7.1 billion during the first nine months of 2021.
The bank's assets decreased to AED 289.388 billion as of 30 September 2021, down from AED 289.556 billion as of 31 December 2020.
The basic and diluted earnings per share (EPS) stood at AED 0.36 in the January-September period of 2021, against AED 0.37 in the corresponding period of the earlier year.
During the third quarter (Q3) of 2021, the bank's net profits attributable to the owners increased to AED 1.205 billion from AED 1.004 billion in the same quarter of 2020.
Commenting on the bank's performance, the Director-General of The Ruler’s Court of Dubai and Chairman of DIB, Mohammed Ibrahim Al Shaibani, said: "The economic recovery of the UAE remains on track with a strong performance of the non-oil sectors driven by improving demand of business activities and rising consumer confidence that is supported by high vaccination rates of the domestic population."
Meanwhile, DIB Group's CEO, Adnan Chilwan, commented: "Whilst the economic recovery continues, our prudent approach to growth and profit protection saw us strengthen our fixed income book with Sukuk investments now reaching AED 40 billion from AED 35 billion at the start of the year depicting a solid growth of 13% YTD and 8% YoY."
It is noteworthy to mention that during the first half (H1) of 2021, DIB's net profits declined to AED 1.853 billion, compared to AED 2.12 billion in the corresponding period of 2020.
