Dubai Islamic Bank's profits fell 23% in the last quarter of last year compared to the same quarter of 2018, to reach one billion dirhams.
According to ArabiaNet, the profits came below expectations of 1.250 billion dirhams.
The profits of the bank reached 5.1 billion dirhams during the past year, an increase of 2% compared to 2018.
The bank’s board of directors recommended distributing 35% cash dividends to shareholders. He also recommended increasing the percentage of foreigners' ownership to 40% subject to the approval of official and regulatory authorities.
