KARACHI: Dubai Islamic Bank Pakistan Limited has reported a year-end profit before tax of Rs926 million which is 337 per cent more than the bank earned in year 2013.
According to official figures, a 24pc deposit growth was achieved in comparison to 2013, taking total deposits to Rs84 billion in 2014. On the asset side, DIBPL’s total assets rose by 27pc in contrast to 2013 increasing the total assets base to Rs102 billion in 2014. The Bank’s Financings grew substantially by 66pc over the year, taking total financings to Rs59 billion.
From only 36 branches in October 2010, today DIBPL stands at 222 locations (175 branches and 47 branchless banking booths) in 51 cities across Pakistan. The Bank added over 30,000 more customers in 2014, taking full customer base to over 170,000.
As per the permission of State Bank of Pakistan, the Bank remains MCR compliant and enjoys a short-term credit rating of ‘A-1’ and long-term credit rating of ‘A’ with a “stable” outlook, indicating the Bank’s robust position in the industry. The bank continues to reaffirm its commitment to Pakistan with new branches and absolutely Halal & Sharia compliant new products and services.
