Dubai Islamic Bank Announces Earnings Results for the First Quarter Ended March 31, 2018
Dubai Islamic Bank announced earnings results for the first quarter ended March 31, 2018. For the quarter, the group net profit increased to AED 1.2 billion, up 16% compared with AED 1.04 billion for the same period in 2017. The bank's total income increased to AED 2.69 billion, up 13% compared with AED 2.37 billion for the same period in 2017. The rise of 13% was driven primarily by sustained growth in core businesses, as income from Islamic financing and investing transactions increased by 16% to AED 2.09 billion. Net operating revenue increased 9% compared to the same period in 2017. Earnings per share further improved to AED 0.19 compared to AED 0.16 in the same period. Return on assets increased to 2.35%, while return on equity rose to 19.2%.