15 per cent cash dividend approved at Dubai Islamic Bank AGM
Following the conclusion of its Annual General Assembly Meeting (AGM), Dubai Islamic Bank (DIB) announced that the assembly has approved the distribution of a 15 per cent cash dividend for the year 2012.
The bank’s 2012 financial statements were also approved during the AGM. For the 12 months ended December 31, 2012, DIB reported a net profit of AED 1.19 billion, compared to AED 1.05 billion in 2011, an increase of 13 per cent. The assembly also reviewed the Fatwa and Sharia Supervisory Board Report, and reappointed Deloitte as the bank’s external auditors.
His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank, said: “DIB’s strong financial performance in 2012 is a reflection of the overall vibrancy of the UAE economy. Over the past year, the bank has enjoyed healthy growth in net profit, customer deposits and total assets, and we are delighted to share this success with our shareholders.”
Among the highlights for DIB in 2012 was its successful return to the International Capital Markets with the launch of a USD 500 million five-year Sukuk, which was oversubscribed more than four times, a notable achievement in light of volatile market conditions.
Emirate: Dubai
Date: Mar 4, 2013
Back