Dubai Islamic Bank achieved a profit growth of 39% on an annual basis, to reach 4.406 billion dirhams in 2021, compared to 3.160 billion dirhams in 2020, despite the decline in total income due to constantly low rates and the payment of large payments to companies during the year.
According to Arabia Net, operating revenues remained stable at 9.422 billion dirhams, compared to 9.471 billion dirhams in 2020, as a result of the effective management of costs against financing.
Operating expenses continued to decline by 7% on an annual basis, from 2.728 billion dirhams to 2.529 billion dirhams, as efforts to build efficiency continued.
Profit before impairment provisions improved by 2% year-on-year to reach AED 6,892 billion, compared to AED 6,743 billion in 2020.
