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Dubai Islamic Bank (DIB) announced today the opening of a new branch in International City, Dubai, bringing the bank’s nationwide network to a total of 61 branches, including three Express Banking locations. The latest DIB branch to open in the country is located at the Royal Wings Building in International City.
The expansion of the bank’s network is in line with its earlier announced strategy to open 10 new branches this year, targeting a total UAE-wide network of 64 branches by the end of 2009. At the same time, DIB expects that its customer base will increase by 15 per cent in 2009, reaching 900,000 by the end of this year. The bank also projects that its asset base will increase 20 per cent during the same period.
“As the world’s first Islamic bank and the acknowledged leader in Islamic banking, it is imperative that we stay ahead of our customers’ growing needs and expectations. In line with this, I am pleased to announce the opening of our 61st branch in the UAE,” said Dr. Adnan Chilwan, Chief of Retail and Business Banking, Dubai Islamic Bank.
“Despite challenging economic conditions globally, DIB remains focused on expanding its branch network, growing its customer base, increasing its market share and launching new products and services,” he said. “Today’s announcement demonstrates that we continue to make solid progress towards achieving all those aims.
“Dubai is once again on the path to increased prosperity and the opportunities to grow our retail banking operations are significant,” said Dr. Chilwan. “To that end, we will continue to strengthen our position in terms of both assets and liabilities, which represent the core of the bank’s retail banking business.”
“One of Dubai’s most rapidly expanding areas, stretching over a total area of 8 million square metres and home to nearly 60,000 people, International City was a logical choice for Dubai Islamic Bank to open its newest branch,” said Rashid Mahboob, Head of Branches Management, Dubai Islamic Bank.
“We look forward to welcoming all of those who live and work in International City to our new branch,” he said, “and to announcing the opening of further branches in the months to come.”
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