The profits of Dubai Islamic Bank increased by 12% at the end of the first quarter of this year, compared to the profits of the same quarter of last year.
The bank stated, in a statement, that it achieved net profits of 1.5 billion dirhams at the end of the first quarter of 2023, compared to profits of 1.34 billion dirhams achieved at the end of the same period of 2022.
Financing and sukuk investments increased by 1 percent since the beginning of the year, to reach 240 billion dirhams.
Total income increased to 4.43 billion dirhams compared to 3.016 billion dirhams, recording a strong growth of 47 percent.
Total new subscriptions in the first quarter amounted to about 21 billion dirhams, compared to 15 billion dirhams in the same period last year.
The bank’s profits at the end of 2022 increased by 25 percent year-on-year, to 5.5 billion dirhams.
The Board of Directors proposed distributing cash dividends of 30 fils per share subject to the approval of the General Assembly.
