| Kippreport.com

DIB’s Q3 profits fall 31 percent

October 24, 2009 12:01 by kippreport

Dubai Islamic Bank (DIB)’s third-quarter net profit fell to AED296.75 million ($80.78 million), 30.9 percent less than it made during the same period last year. The bank reported a net profit of AED1.12 billion for the first nine months of 2009.

“The past 12 months have presented a range of unprecedented threats to the stability of the global financial system,” said Mohammed Ibrahim Al Shaibani, the chairman of DIB in the press release. “But we are now clearly emerging from that period of instability and moving into a new phase of recovery, evidenced by the more positive growth projections worldwide.”

Tags: Dubai Islamic Bank, net profit, Q3 2009