DIB Reports Net Profit of AED 3.1 Billion for 9 Months 2021

On the 26th of October 2021, Dubai Islamic Bank (DIB), the United Arab Emirates’ (UAE) largest Islamic bank and the world's second largest Islamic bank, released its results for the quarter that ended 30th of September 2021 (3Q 2021). Supported by effective cost management and lower impairments, net profit for nine months ended 2021 (9M 2021) reached AED 3.1 billion, increasing 19% quarter-on-quarter (QoQ).

Why it Matters?

Mohammed Ibrahim Al Shaibani, Director-General of His Highness the Ruler’s Court of Dubai and Chairman of DIB, remarked that the UAE's economic recovery is on track, with stellar performance in the non-oil sectors, fuelled by improving business demand and rising consumer confidence bolstered by high vaccination rates among the local pop...