Dubai’s DIB remains upbeat on growth prospects as economy rebounds
- Date: 28-Apr-2021
- Source: The National
- Sector:Financial Services
- Country:UAE
Dubai’s DIB remains upbeat on growth prospects as economy rebounds
Dubai Islamic Bank (DIB), the UAE's largest Sharia-compliant lender, is well positioned to capitalise on the economic recovery from the Covid-19 pandemic and is upbeat about growth prospects this year despite a 23 per cent drop in first quarter profit.
Net profit for the three months to the end of March declined to Dh853 million ($234.4m), in the absence of a Dh1 billion one-off gain recorded in the first quarter of 2020, the lender said in a statement to the Dubai Financial Market, where its shares trade. The rise in profit from Dh53m recorded in the last three months of 2020 points to a
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