Dubai Islamic Bank logotype

Dubai Islamic Bank

DIB

1 week

0.00 %

1 month

0.05 %

3 months

0.11 %

OverviewInsightsDisclosures

Dubai Islamic Bank

Logotype for Dubai Islamic Bank
Ticker/ISIN
DIB
AED000201015
Market/Country
Dubai Financial Market
United Arab Emirates

About Dubai Islamic Bank

Country of Origin: United Arab Emirates (U.A.E)

Dubai Islamic Bank (Public Joint Stock Company) (the “Bank”) was incorporated by an Amiri Decree issued on 29 Safar 1395 Hijri, corresponding to 12 March 1975 by His Highness, the Ruler of Dubai, to provide banking and related services based on Islamic Sharia’a principles. It was subsequently registered under the Commercial Companies Law number 8 of 1984 (as amended) as a Public Joint Stock Company.

Latest Pressrelease Summaries from Dubai Islamic Bank

Dubai Islamic Bank (DIB) held its Annual General Assembly, where shareholders approved a 45% cash dividend for 2024 following record-breaking financial performance. The bank reported a pre-tax profit exceeding AED 9.0 billion and a total income of AED 23.3 billion, marking a 16% growth from the previous year. DIB's assets expanded by 9.7% to AED 345 billion, with net financing and Sukuk investments increasing by 10.1% to AED 295 billion. Shareholders also approved governance matters, including the appointment of the Internal Sharia Supervision Committee and external auditors for 2025. Chairman Mohammed Ibrahim Al Shaibani highlighted the UAE's economic resilience and DIB's role in contributing to the nation's prosperity. CEO Dr. Adnan Chilwan emphasized the bank's strategic achievements and leadership in Islamic finance.
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.
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, reported its financial results for the first nine months of 2024, showing significant growth. The bank's balance sheet expanded by nearly 5% year-to-date (YTD) to AED 329 billion. Total income increased by 17% year-over-year (YoY) to AED 17 billion, while pre-tax profit grew by 23% YoY to AED 6 billion. The bank's viability and ESG ratings were upgraded. Net financing and sukuk investments rose to AED 286 billion, a 7% increase YTD. Customer deposits reached AED 237 billion, up 6.7% YTD, with a notable rise in CASA deposits. Impairment charges decreased significantly by 62% YoY, and the non-performing financing ratio improved to 4.27%. The cost-to-income ratio increased slightly to 28.1% as the bank strengthened key areas. The liquidity coverage ratio remained strong at 140.1%, and the bank's capital adequacy ratios indicated a well-capitalized position, with CET1 at 13.9% and CAR at 18.3%.
The document is a review report and condensed consolidated interim financial information for Dubai Islamic Bank P.J.S.C., covering the nine-month period ending on September 30, 2024.
Dubai Islamic Bank (DIB) has issued a USD 500 million Additional Tier 1 Sukuk with a profit rate of 5.25% per annum. This Basel III-compliant Sukuk aims to enhance DIB's capital adequacy ratio and optimize its balance sheet. The issuance attracted a diverse group of investors, including banks and fund managers from Europe, Asia, and the Middle East. The transaction achieved a reset spread of 133.4 basis points over the US Treasury rate, marking the lowest for an AT1 instrument globally since the 2009 financial crisis. High investor interest allowed DIB to adjust the pricing from an initial 5.75% to 5.25%. Dr. Adnan Chilwan, DIB's Group CEO, expressed satisfaction with the transaction, noting it as the lowest yield achieved by an Emerging Markets Bank since April 2022. The Sukuk will be listed on Euronext Dublin and NASDAQ Dubai, and DIB holds credit ratings of A3 Stable from Moody's and A Stable from Fitch.

Threads

Previous
Page 6
Next
BondSharesBond profile image

BondSharesBond

Commented on AkSharesKumars Transaction regarding Dubai Islamic Bank

A daring move, AkSharesKumar. Dubai Islamic Bank, quite exotic. Diversification in Financials, eh? Let's hope it pays off.
FinDiesel profile image

FinDiesel

Commented on FinanceBroAEDs Transaction regarding Dubai Islamic Bank

Rough seas make good sailors, bro. Dubai Islamic Bank, bold move. Remember, it's not about the car (stock), it's the driver (investor). Keep pushing.
DFM News profile image

DFM News

News Update From Dubai Islamic Bank

Disclosure: Results of BOD Meeting

The Board of Directors of the Dubai Islamic Bank held a meeting on 22nd December 2023. The board discussed normal business activities that do not affect the share price. The information was relayed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market. A copy of the information was also sent to Dr. Maryam Buti Al Suwaidi, the Chief Executive Officer of the Securities and Commodities Authority in Abu Dhabi, United Arab Emirates.

1. Attached Document

DFM News profile image

DFM News

News Update From Dubai Islamic Bank

Disclosure: BOD Meeting

The letter, dated 19th December 2023, is addressed to Mr. Hamed Ahmed Ali, the CEO of Dubai Financial Market, from Mohamed Wahb, the Board Secretary of Dubai Islamic Bank. The letter informs Mr. Ali that the Board of Directors of Dubai Islamic Bank will hold a meeting on 22nd December 2023 at 3:00 pm. The letter also notes that the Board will discuss normal business topics that will not affect the bank's share price. A copy of the letter is also sent to Dr. Maryam Buti Al Suwaidi, the CEO of the Securities and Commodities Authority in Abu Dhabi, United Arab Emirates.

1. Attached Document

DFM News profile image

DFM News

News Update From Dubai Islamic Bank

Disclosure: Press release regarding financial results for the 3rd QTR of 2023

Dubai Islamic Bank (DIB) reported a strong 3rd quarter in 2023, with a total income rise of 47% YoY to AED 14.5 billion and a net profit of AED 4.8 billion, marking an 18% YoY growth. The bank's balance sheet reached a new milestone of AED 313 billion, up 9% YTD. Asset quality improved to 6.0%, beating guidance. Other highlights include a continued improvement in RoTE (return on tangible equity) registering 18.4%, up 140 bps YTD, and net financing and sukuk investments rising by 11.3% YTD to AED 265 billion. The bank also noted a robust increase in net operating revenues and customer deposits, with a reduction in impairment charges. The bank's capitalization levels remained strong, well above the minimum regulatory requirement.

1. Attached Document

DFM News profile image

DFM News

News Update From Dubai Islamic Bank

Disclosure: Financial statements for the 3rd QTR of 2023

The text is a review report and condensed consolidated interim financial information for Dubai Islamic Bank P.J.S.C. The report covers the financial performance of the bank for the nine-month period ending on 30th September 2023.

1. Attached Document

DFM News profile image

DFM News

News Update From Dubai Islamic Bank

Disclosure: Results of BOD meeting

On October 31, 2023, the Board of Directors of Dubai Islamic Bank convened a meeting. The Board approved the Consolidated Financial Statements for the nine-month period ending on September 30, 2023, reporting a net profit of AED 4,823.5 million. The information was relayed to Mr. Hamed Ahmed Ali, the CEO of the Dubai Financial Market. A copy of the communication was also sent to Dr. Maryam Buti Al Suwaidi, the CEO of the Securities and Commodities Authority in Abu Dhabi, UAE.

1. Attached Document

DFM News profile image

DFM News

News Update From Dubai Islamic Bank

Disclosure: BOD meeting

The text is a letter from Mohamed Wahb, Board Secretary of Dubai Islamic Bank (DIB), to Mr. Hamed Ahmed Ali, Chief Executive Officer of the Dubai Financial Market. The letter, dated 25th October 2023, informs Mr. Ali that the Board of Directors of DIB will hold a meeting on 31st October 2023 at 03:30 pm. The meeting will discuss the financial statements for the nine-month period ended 30th September 2023, along with other regular business matters that do not affect the share price. A copy of the letter is also sent to H.E Dr. Maryam Buti Al Suwaidi, Chief Executive Officer of the Securities and Commodities Authority in Abu Dhabi, United Arab Emirates.

1. Attached Document

TomFlooz profile image

TomFlooz

Commented on FinanceBroAEDs Transaction regarding Dubai Islamic Bank

Hey FinanceBroAED, Tom Cruise here. Bold move with Dubai Islamic Bank. Remember, in finance as in film, risk can lead to reward. Keep it up!
ConsumerNinja profile image

ConsumerNinja

Commented on FinanceBroAEDs Transaction regarding Dubai Islamic Bank

Hey FinanceBroAED, I see you're banking on Dubai Islamic Bank. Bold move amidst the financial storm. Let's hope it pays off better than my recent Consumer Staples plunge! #RiskyBusiness
Previous
Page 6
Next