Dubai Islamic Bank recorded today, Wednesday, a net profit growth of 20% to reach 1.2 billion dirhams during the third quarter of this year.

According to Arab Net, the bank's data showed that the profits for the first nine months of this year fell to 3.069 billion dirhams, compared to 3.124 billion dirhams during the same period of the year. past.

The bank said that net operating income achieved strong growth of 5% q-o-q and 3% y-o-y, now reaching AED 7.1 billion since the beginning of the year. To date.

Operating expenses continued to decrease by 12% year-on-year, from AED 2,134 million to AED 1,874 million, as continued investments in digital technologies contribute to the continued achievement of compliance after merging process.

Profit before impairment provisions was AED 5,275 million, an increase of 7% q-o-q and 10% y-o-y.

Impairment losses declined 10% q/q and 18% y/y to AED 2,174 million.