Dubai Islamic Bank reports healthy liquidity position

06/05/2010 - Dubai Investment News
Dubai Islamic Bank reports healthy liquidity position

Posted by Bob Brunskill

Dubai Islamic Bank (DIB) has pointed to its healthy liquidity position after reporting a financing-to-deposit ratio of 79 per cent as of March 31st, 2010.

In addition, DIB said it had recorded a net profit of AED 200 million and total assets of AED 85 billion for the first quarter of the year.

DIB chairman Mohammed Ibrahim Al Shaibani said the bank was focused on its clients' needs in the wake of increased global and regional economic stability.

"Thirty-five years after the bank was founded, DIB continues to provide innovative products and customised services that help sustain public and private-sector organisations, and facilitate personal growth opportunities for its more than 900,000 customers in the UAE alone," he added.

The bank also confirmed plans to open more "strategically located" branches and express banking centres across the region.

DIB was recently named the "Best Islamic Bank" in the UAE for 2010 by Global Finance magazine.