Guest Posts, Link Building, SEO, Pay-Per-Click campaigns
Advanced Search
Download our Media Kit

 





Home / News / Company News
Company News
   

Dubai Islamic Bank Hosts Annual General Meeting
(23 February 2017)

 

Following the conclusion of its Annual General Meeting (AGM), Dubai Islamic Bank (DIB) announced that the assembly has approved the distribution of 45 fils per share as cash dividend for 2016, maintaining the strong return to shareholders since it embarked on a growth agenda three years ago.

The assembly also approved the bank’s 2016 financial statements. For the year 2016, DIB reported a net profit of AED 4.050 billion, an increase of 6 per cent compared to AED 3.839 billion in 2015. Other agenda items were also concluded at the AGM including the election of the members of Board of Directors for the period 2017-2019, the review of the Fatwa and Sharia Supervisory Board Report and the reappointed of the bank’s external auditors.

Commenting on another successful financial year, His Excellency Mohammed Ibrahim Al Shaibani, Director-General of His Highness The Ruler’s Court of Dubai and Chairman of Dubai Islamic Bank, said: “In line with the UAE and Dubai’s growth, I am proud to say that DIB’s 2016 fiscal performance also exceeded expectations. DIB consistently outperformed the banking sector, registering record profits whilst simultaneously delivering significant value to all of its stakeholders. The profit for the year reached over AED 4 billion, up by 6% compared to AED 3.8 billion in 2015, and allowed us to maintain our unique position in the “Billion Dollar” profit club in the United Arab Emirates”.

As an indication of the robust financial position and strong risk management practices, Moodys recently upgraded the outlook of the Bank from “Stable” to “Positive”, a key achievement given the challenging global economic environment.

“DIB has been amongst the top performers in the market over the recent past.” said Dr. Adnan Chilwan, Group CEO, DIB. “Clearly, the growth strategy outlined three years ago has been followed up with exemplary execution, not only in terms of the financial performance yielded over the defined period but also because it has led to the re-creation of the platform that allowed us to spring-board from in 2014. We remain committed to continue our leading performance in the coming years and ensure strong and robust returns for all stakeholders.”

The bank has received numerous local and international accolades last year, ranging from “Best Islamic Bank” to “Best Islamic Retail Bank”, and “Best Islamic Corporate Bank”, alongwith a number of “deal of the year” awards, to name few.

Download the Dubai City Guide iPhone mobile app

DubaiCityGuide.com is owned and managed by Cyber Gear


  All fields are mandatory
Your Name
Email
City
Country
Your Comments
 Max 250 characters - Word Count :
Image Verification
Change Image

     
 
email print
1141
 

Sponsored By : PressReleaseNetwork.com           Sponsored Opportunities

       
       
   
       

Daily Guide

 



Hotels hotels Check out Hotels in Dubai
Shopping shopping A complete Mall & Store Guide
Dining dining Eating out at the coolest spots
Sightseeing sightseeing Things to see & do
DCG Recommends dcg recommends Best of the best in Entertainment
News Alerts
News Alerts
Stay ahead with dubai news
dcg mobile
dcg Mobile
With you wherever you go
rss feed
RSS Feeds
Get the latest
dubai blog
Dubai Blog
Your space, your voice
sitemap
Sitemap
DCG at a glance