Press releases, Reports & Disclosures for Dubai Islamic Bank

The text informs shareholders about their rights and procedures for attending the general assembly, as outlined in Clauses 1 and 2 of Article 40 of the Corporate Governance Manual. Shareholders can delegate someone to attend on their behalf, provided the delegate is not a Board member, company staff, or securities brokerage employee. The delegate cannot represent more than 5% of the company's issued capital. Shareholders must have their signatures on the power of attorney verified by an approved entity, such as a Notary Public, Chamber of Commerce, licensed bank, or financial market. The proxy form should include the shareholder's and brokerage firm's contact details. For further inquiries, contact the provided phone number or email address.

Dubai Islamic Bank announced its financial results for the year ending December 31, 2024, highlighting significant growth and improvements. The bank reported a 27% year-over-year increase in pre-tax profit, reaching AED 9 billion, and a 16% rise in net profit to AED 8.165 billion. Total income grew by 16% to AED 23.341 billion, while net operating revenues increased by 10% to AED 12.837 billion. The bank's total assets expanded by 10% to AED 345 billion, and customer deposits rose by nearly 12% to AED 249 billion. The non-performing financing (NPF) ratio improved to 4.0%, down 140 basis points from the previous year, with cash coverage at 97%. The cost-to-income ratio decreased by 40 basis points to 26.7%, and liquidity coverage ratio remained strong at 159%. Capitalization ratios, including CET1 at 13.2% and CAR at 18.3%, indicated robust financial health. The bank also increased its stake in a digital bank in Türkiye to 25% and proposed a 45% dividend, pending shareholder approval.

The consolidated financial statements of Dubai Islamic Bank P.J.S.C. for the year ending December 31, 2024, have been audited. These statements require approval from the Central Bank of UAE and adoption by shareholders at the Annual General Meeting.

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has increased its stake in Türkiye's T.O.M. Group from 20% to 25%. This move, following an initial investment in September 2023, strengthens DIB's involvement in Türkiye's financial sector. T.O.M. Group comprises Türkiye's first licensed digital retail bank, an e-money company, and a financing company specializing in digital products. This investment reflects DIB's confidence in Türkiye's growing digital banking and fintech ecosystem and aligns with its goal to enhance financial inclusion with Sharia-compliant services. Dr. Adnan Chilwan, DIB's CEO, emphasized the strategic importance of this increased shareholding, highlighting the bank's commitment to Türkiye's tech-driven economic growth and its vision of developing a global Islamic financial model. DIB has been a significant contributor to Türkiye's financial sector for over 15 years, and along with T.O.M. Group, it plays a key role in the country's digital banking and fintech industries.