Earlier in the day, Hezbollah has confirmed the death of its leader Hassan Nasrallah
mena13 hours ago
Net profit for the first quarter of 2009 fell to Dh370 million from Dh551.3 million a year earlier after Dh104 million in provisions, the Dubai-based bank
said on Tuesday.
“The first three months of this year were challenging for the global financial services industry, but we are now cautiously optimistic that the worldwide economy will soon begin its gradual recovery,” said Mohammed Ibrahim AlShaibani, chairman of the bank.
The other day, the bank announced that it would raise capital by Dh3 billion as the bank got shareholders’ approval during an extra-ordinary general meeting.
“While our approach remains conservative, our outlook for the future is firmly optimistic; we will continue to provide innovative products and services that contribute to individual achievement and the shared prosperity of the nation as a whole.”
Total assets jumped 12 per cent from December end to Dh85 billion and deposits 15 per cent to Dh76.6 billion. The bank’s loan-to-deposit ratio reached 67 per cent at the end of the quarter.
Dubai Islamic Bank projects that the expansion of its retail banking business, including 10 new branch openings in the UAE this year, will contribute to its projected annual balance sheet growth and will account for approximately 47 per cent of the bank’s revenue for 2009.
By the end of this year, DIB forecasts that its customer base will increase by approximately 15 per cent, reaching some 900,000 customers. The bank’s retail assets business is expected to grow by approximately 20 per cent. The bank plans to focus on traditional bricks-and-mortar branches and to enhance its network through Al Islami Express Banking Centres.
Earlier in the day, Hezbollah has confirmed the death of its leader Hassan Nasrallah
mena13 hours ago
Authorities said at least 254 people have died and 65 missing in landslides, floods and lightning strikes since mid-June when the annual monsoon rains started
asia13 hours ago
The Bollywood awards night will see one of the most celebrated actors in the world taking the stage after several years
entertainment14 hours ago
In an interview ahead of his much-awaited IIFA performance, the Bollywood star talks about embracing fatherhood, his craft and more
entertainment14 hours ago
The actor, who recently dropped the single 'Ittefaq', shared the stage with 'Challeya' singer Shilpa Rao
entertainment14 hours ago
Fame is a double-sided coin, she explains
entertainment14 hours ago
The mission has supported more than 4,000 service seekers as part of this initiative
visa and immigration in uae15 hours ago
Experts recommended exploring the idea of further reducing working hours to see if it brings even more benefits
jobs15 hours ago