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The bank reported a 12.1 per cent increase in customer deposits to Dh 113.8 billion as its liquid assets ratio stood at 33.2 per cent as of December 2022 compared to 29 per cent in December 2021 when the lender swung to a Dh1 billion net profit
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The Abu Dhabi-based Islamic lender also reported the highest quarterly net profit of Dh1.2 billion in fourth quarter of 2022 versus Dh728 million in the same quarter of 2021, marking a 60 per cent growth versus the same period last year
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The bank’s fourth-quarter net profit dropped to Dh2.5 billion from Dh 2.9 million in Q3’22, reflecting prudent provisioning and conservative asset valuations
The bank’s total assets increased by 15 per cent to Dh75 billion while customer financing rose by 14 per cent to Dh48.4 billion
The fourth-quarter profits soared 94 per cent to Dh3.9 billion year-on-year basis, reflecting improving margins and a lower cost of risk
The bank also reports an increase in operating profits by 17.4 per cent, reaching Dh998.3 million in 2022 as against Dh850.7 million in the previous year
Dubai Islamic Bank records a 20 per cent rise in total income year-on-year to Dh14 billion and proposed 30 per cent dividend subject to shareholder approval
Fujairah lender’s net profit recorded 195.3 per cent year-on-year growth at Dh340.4 million last year due to a solid turnaround supported by robust capital adequacy and sound improvement in asset quality