Dubai Islamic Bank logotype

Dubai Islamic Bank

DIB

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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 reported strong financial performance for the first quarter of 2025, highlighting its position as a leader in Islamic finance. The bank achieved a 14% year-on-year increase in pre-tax profit, reaching AED 2.1 billion, and a 5% year-on-year growth in operating revenue to AED 3.2 billion. The balance sheet expanded by 3% year-to-date to AED 355 billion, with a net financing portfolio growth of 5% year-to-date to AED 223 billion. Customer deposits grew by 7% year-to-date to AED 265 billion, with CASA balances increasing by 4% year-to-date to AED 99 billion, representing 37% of total deposits. Impairment charges decreased significantly by 45% year-on-year to AED 163 million. The results underscore the bank's strategic resilience and its influence in the global Islamic finance sector.
The document is a review report and condensed consolidated interim financial information for Dubai Islamic Bank P.J.S.C., covering the three-month period ending on March 31, 2025.
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%.

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News Update From Dubai Islamic Bank

Disclosure: Earnings Call Meeting

1. Attached Document

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DFM News

News Update From Dubai Islamic Bank

Disclosure: BOD Meeting

The letter, dated 17th January 2024, is from Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market. He informs that the Board of Directors of the Dubai Islamic Bank will hold a meeting on Tuesday 23rd January 2024 at 03:30 pm. The main items on the agenda will be the financial statements for the financial year ended 31st December 2023, the date of the Annual General Meeting for the shareholders of the Bank, and other normal business topics that do not affect the share price. The letter is also copied 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

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DFM News

News Update From Dubai Islamic Bank

Disclosure: Notification Appointment Chief of Treasury

On January 2, 2024, Dubai Islamic Bank (DIB) announced the appointment of Mr. Saeed Ahmad Abdulwahed Wajdi (UAE National) as the Bank’s Chief of Treasury. He will report directly to the DIB Group CEO. The announcement was made in a letter signed by the Board Secretary of Dubai Islamic Bank, Mohamed Wahb, and addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of Dubai Financial Market. A copy of the letter 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

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JohnnyDebt

Commented on AkSharesKumars Transaction regarding Dubai Islamic Bank

Ahoy mate! Felt a bit of a sting on DIB, didn't we? My experience says patience is key in Financials. Keep a weather eye on the horizon.
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BondSharesBond

Commented on FinanceBroAEDs Transaction regarding Dubai Islamic Bank

A risky move with Dubai Islamic Bank shares, I see. Remember, even in finance, not all that glitters is gold. Keep an eye on the market's volatility.
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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.
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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.
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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

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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

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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

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