DIB posts 21 percent net profit rise for 1Q 2004
The Dubai Islamic Bank (DIB) posted a 21 percent increase in net-profit for the first quarter of 2004 reaching 180 million Emirati dirhams ($49 million) compared to Dh 149 million for the same period last year.
Total assets increased by 23 percent during the first three months of 2004 from Dh 20.6 billion to Dh 25.4 billion. Customer deposits also witnessed strong growth of 23 percent achieving an increase of Dh 4.3 billion from D1h 8.4 billion in the first quarter of 2003 to Dh 22.6 billion in the first quarter of this year.
Established in 1975, DIB is considered to be the first Islamic bank in the world that has implemented the principles of Islam in all its practices. It was founded with the active assistance of the UAE Government, the Central Bank and the people of the UAE. — (menareport.com)
© 2004 Mena Report (www.menareport.com)