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DIB Shareholders Approve 25pc Dividend
DUBAI - Dubai Islamic Bank posted a net profit of Dh1.73 billion for the 12 months ending December 31, 2008, a decrease of eight per cent from the previous year’s profit of Dh1.88 billion. The Shariah-compliant bank in its annual general meeting on Wednesday approved financial results for 2008, 25 per cent cash dividend and
5 per cent bonus shares. “As one of the UAE’s top five banks, Dubai Islamic Bank continues to set new standards for excellence at home and across the globe,” said Mohammed Ibrahim Al Shaibani, Chairman of Dubai Islamic Bank. “We are very pleased to present 2008 financial results to our shareholders, and to be able to provide them with a generous share of the bank’s success. We look forward to their continued support in 2009 and in the years to come.”
By the end of this year, the bank expects to record a 15 per cent increase in its customer base, while the bank’s retail assets business will grow by approximately 20 per cent.
“Dubai Islamic Bank will strive to repeat the success of previous years by focusing on offering our retail and institutional clients the most innovative financial products and services,” Al Shaibani said. “Even more important, the bank will sustain its commitment to contributing to the ongoing growth, stability and diversification of the UAE and all the markets we serve.”
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