The Dubai Islamic Bank (DIB) Friday said that its net profit reached Arab-Emirate Dinar (AED) 1.9 billion during the first nine months of the year 2007.
"For the nine months ending September 30, 2007, the DIB's net profit reached AED 1.9 billion, showing an increase of 86 percent compared to AED 1.02 billion for the same period last year," said a statement issued by the bank.
During the same period, the profit before distribution to depositors touched AED 3.9 billion, registering a growth of 77 percent as compared to AED 2.2 billion in the corresponding period of 2006, the statement said.
The DIB's total assets grew by a record 39 percent to AED 74.1 billion as on September 30, 2007 compared to AED 53.3 billion as on September 30, 2006, it said.
Financing and investing activity achieved a significant increase of 51 percent and reached AED 48.3 billion as compared to AED 31.9 billion during the corresponding period of 2006, the statement said. Customer deposits showed strong growth of 39 percent to AED 57.5 billion during the nine months ended September 30, 2007 as compared to AED 41.3 billion during the corresponding period of 2006, it added.