Dubai-based DIB and CBD Report Strong Earnings

Dubai-based DIB and CBD Report Strong Earnings

Dubai Islamic Bank’s Q2 2022 net profit rose steeply by 45% to AED 2.7bn ($740mn). This was a product of total income improving 7% YoY to AED 6.3bn ($1.7bn) and a 37% lower impairment charge of AED 948mn ($258mn). Despite a 9% YoY increase in operating expenses, it...
Dubai-based DIB and CBD Report Strong Earnings

DIB Lining Up Dollar Sukuk

Dubai Islamic Bank (DIB), UAE’s largest Islamic lender, is planning an issuance of ~$500mn dollar denominated sukuk, according to Reuters sources. Banks have already been hired for the deal which could be priced as soon as next week. DIB had sold $1bn 1.959%...
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