Dubai Islamic Bank (DIB)

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News

24 October 2023 03:16 PM SEC secures $3bn financing from 4 banks; deal signed during FII7

Riyadh – Mubasher: Saudi Electricity Company(SEC) inked a USD-denominated international syndicated facility agreement at a total value of $3 billion, equivalent to SAR 11.25 billion, during the proceedings of the global economic event, the Future …

Global Economy

3 October 2023 02:01 PM DIB evolves customer experience with HPE GreenLake

Dubai – Mubasher: Dubai Islamic Bank (DIB) teamed up with the HPE GreenLake edge-to-cloud platform in order to enhance the core banking services, deliver improved customer experience, and launch new services and digital products. The lender will …

Companies Investments

1 October 2023 01:21 PM DIB enters Turkish digital banking sector via new investment

Dubai – Mubasher: Dubai Islamic Bank (DIB) has entered the Turkish digital banking and financial technology sector through an equity investment in T.O.M. Group of Companies, according to a press release. Established by Aydın Group shareholders, …

Banking and Finance

23 August 2023 11:14 AM Six UAE lenders endorse green economy via AED 190bn financing

UAE – Mubasher: Six UAE lenders contributed to green financing with a total of AED 190 billion ($51.80 billion) by the end of 2022, the UAE Banks Federation (UBF) announced. The lenders are First Abu Dhabi Bank (FAB), Abu Dhabi Commercial …

Macroeconomics

26 July 2023 10:58 AM DIB’s net profits jump to AED 3.11bn in H1-23

Dubai – Mubasher: The net profits of Dubai Islamic Bank (DIB) hiked to AED 3.11 billion in the first half (H1) of 2023 from AED 2.70 billion in H1-22. The UAE lender’s total income hit AED 9.30 billion in H1-23, marking a year-on-year (YoY) leap …

Financial Results

5 June 2023 00:18 PM DIB fosters transformation strategy via new digital platform

Dubai – Mubasher: Dubai Islamic Bank (DIB) launched DIB alt, a transformative digital banking feature that is aimed to enhance the banking experience for DIB’s customers and provide them access to a range of digital services as well as products. …

Banking and Finance

19 April 2023 01:21 PM DIB records AED 1.47bn profits to shareholders in Q1-23 initial financials

Dubai – Mubasher: Dubai Islamic Bank (DIB) achieved net profits attributable to the equityholders worth AED 1.47 billion in the first quarter (Q1) of 2023, higher than AED 1.33 billion in Q1-22. Total income hiked by 47% year-on-year (YoY) to AED …

Financial Results

16 March 2023 00:19 PM DIB to pay AED 2.16bn dividends for 2022

Dubai – Mubasher: The shareholders of Dubai Islamic Bank (DIB) approved the board’s recommendation to disburse cash dividends worth AED 2.16 billion for 2022, equivalent to 30% of the paid-up capital. According to a bourse filing, the bank’s …

Banking and Finance

25 January 2023 05:41 PM DIB’s net profits to owners hit AED 5.47bn in 2022; dividends proposed

Dubai – Mubasher: The consolidated net profits attributable to the owners of Dubai Islamic Bank (DIB) soared to AED 5.47 billion in 2022 from AED 4.39 billion in 2021, according to the income statements. The basic and diluted earnings per share …

Cash Dividends

23 November 2022 05:41 PM DIB prices $750m from inaugural sustainable Sukuk

Dubai – Mubasher: Dubai Islamic Bank (DIB) has issued its $750 million inaugural sustainable Sukuk, which was announced last February, according to a press release. The issuance comes in line with DIB’s sustainable finance framework which aims to …

Sukuk and Islamic Finance

25 October 2022 04:46 PM DIB’s profits exceed AED 4bn in 9M-22

Dubai – Mubasher: Dubai Islamic Bank (DIB) has logged net profits attributable to the owners worth AED 4.04 billion in the first nine months (9M) of 2022, an annual surge of 34% from AED 3.05 billion. The total net income reached AED 9.87 billion …

Banking and Finance

27 April 2022 00:49 PM DIB's net profits surge in Q1-22

Dubai – Mubasher: The net profits attributable to the owners of Dubai Islamic Bank (DIB) hiked to AED 1.33 billion in the first quarter (Q1) of 2022 from AED 845.96 million in the year-ago period, according to the bank's consolidated interim …

Financial Results

2 March 2022 03:52 PM DIB’s shareholders approve AED 1.8bn dividends for 2021

Dubai – Mubasher: The shareholders of Dubai Islamic Bank (DIB) gave the green light for distributing 25% of the paid-up capital as cash dividends for 2021. The UAE Islamic lender will pay a total amount of AED 1.80 billion as dividends to the …

Cash Dividends

9 February 2022 10:53 AM DIB prices $750m Sukuk issuance

Dubai – Mubasher: Dubai Islamic Bank (DIB) has priced a five-year Sukuk issuance worth $750 million with a profit rate of 2.74% per year. The transaction, which is the first Sukuk issuance from the UAE in 2022, was more than 2.5 times …

Banking and Finance

7 February 2022 00:15 PM DIB hires banks to issue 5-year US dollar Sukuk

Dubai – Mubasher: Dubai Islamic Bank (DIB) has selected banks to arrange for the issuance of five-year US dollar-denominated Sukuk, Reuters reported. Bank ABC, DIB, Emirates NBD Capital, First Abu Dhabi Bank (FAB), KFH Capital, HSBC, Sharjah …

Sukuk and Islamic Finance

26 January 2022 10:23 AM DIB records rise in net profits in 2021; dividends proposed

Dubai – Mubasher: Dubai Islamic Bank (DIB) reported a rise in the net profits attributable to the owners to AED 4.39 billion in 2021, compared to AED 3.29 billion in 2020, according to the bank's consolidated financials for the year ended 31 …

Board of Directors

18 November 2021 01:42 PM Fitch affirms DIB, Mashreq ratings at 'A'; outlook stable

Dubai - Mubasher: Fitch Ratings has affirmed the long-term issuer default rating (IDR) of Mashreq Bank and Dubai Islamic Bank (DIB) at 'A', with a stable outlook. The global rating agency has maintained DIB's Viability Rating (VR) at 'bb+', …

Ratings

27 October 2021 09:52 AM DIB sees lower profits to AED 3.058bn in 9M

Dubai – Mubasher: The consolidated interim financials Dubai Islamic Bank (DIB) recorded AED 3.058 billion net profits attributable to the owners during the first nine months of 2021, down from AED 3.125 billion in the year-ago period. The bank's …

Financial Results

1 September 2021 11:07 AM DIB plans to sell US dollar senior Sukuk

Dubai – Mubasher: Dubai Islamic Bank (DIB) plans to issue US dollar-denominated senior Sukuk, which could be around $500 million in size, sources told Reuters. DIB has hired the banks to arrange the deal, which is expected to be executed next …

Banking and Finance

5 August 2021 10:11 AM DIB increases foreign ownership to 40%

Dubai – Mubasher: Dubai Islamic Bank (DIB) has raised its foreign ownership limit (FOL) from 25% to 40% after obtaining approvals from the Central Bank of the UAE (CBUAE) and the Securities and Commodities Authority (SCA). Higher FOL is attributed …

Banking and Finance

28 July 2021 10:58 AM DIB's net profits down in H1-21

Dubai – Mubasher: The net profits attributable to the owners of Dubai Islamic Bank (DIB) declined to AED 1.853 billion during the first half (H1) of 2021, compared to AED 2.12 billion in the corresponding period of 2020, according to the bank's …

Financial Results

11 July 2021 01:05 PM Arada secures AED 250m Islamic facility from DIB

UAE - Mubasher: Arada, the UAE-based property developer, has secured a AED 250 million Islamic facility from Dubai Islamic Bank (DIB) to finance the construction of its Aljada megaproject in New Sharjah. The credit facility is in addition to …

Companies Investments

16 June 2021 00:30 PM DIB sells $1bn in five-year Sukuk

Dubai – Mubasher: Dubai Islamic Bank (DIB) has sold five-year Sukuk worth $1 billion after receiving over $2.8 billion in orders for the Islamic bonds, Reuters reported. The bank has issued the Sukuk at 110 basis points (bps) over mid-swaps, …

Sukuk and Islamic Finance

14 June 2021 00:43 PM DIB to issue five-year USD-denominated Sukuk

Dubai – Mubasher: Dubai Islamic Bank (DIB) has reportedly hired seven banks to manage a US-dollar-denominated five-year Sukuk offering, Reuters reported. The size of the offering is expected to be no less than $500 million. Alongside DIB, Arab …

Sukuk and Islamic Finance

27 May 2021 02:25 PM DIB confirms ADGM Courts' ruling against NMC administrators

Dubai – Mubasher: The Abu Dhabi Global Market (ADGM) Courts have ruled in favor of Dubai Islamic Bank (DIB) and against the administrators of NMC Healthcare. DIB has welcomed the judgment which accepted its request that the ADGM Courts has no …

Bankruptcy