Dubai Islamic Bank achieved a net profit of 5.103 billion dirhams during the past year, an increase of 2% on an annual basis compared to 5.004 billion dirhams recorded by the bank in 2018.
The bank said in a statement today, during which it announced its financial results for the year ended December 31, 2019, that the recommendation of the Board of Directors to distribute 35% cash dividends is subject to the approval of the General Assembly, noting at the same time that the recommendation to increase the percentage of foreign ownership by up to 40%, is subject to For regulatory and official approval.
He explained that the total income increased to 13.684 billion dirhams, a growth of 17% on an annual basis compared to 11.73 billion dirhams in 2018, while the net income increased to 9.267 billion dirhams, an increase of 13% on an annual basis compared to 8.2 billion dirhams, While operating expenses maintained their stability at 2.358 billion dirhams, compared to 2.322 million dirhams in 2018.