Banking & Finance Dubai Islamic Bank reports first quarter profit increase By Sunil Singh April 25, 2025, 10:11 AM Alamy via Reuters Dubai Islamic Bank's net profit rose 8 percent in the first quarter Dubai Islamic Bank’s profits rose in the first quarter of this year, as deposits increased by more than a third and the non-performing financing ratio improved. Net profit after taxes rose 8 percent annually to AED1.8 billion ($490 million) in the first three months of 2025, driven by quality growth in earning assets. Pre-tax profit rose 14 percent year on year to AED2.1 billion ($570 million), the bank said in a statement on Friday. Its assets expanded by 3 percent to AED355 billion, supported by deposit growth of 7 percent, bringing total deposits to AED265 billion. Demand grows for Islamic banking in Oman There’s no easy fix for Lebanon’s banking collapse National Bank of Kuwait earnings hit by corporate tax The lender also reported growth in its financing portfolio, which increased 5 percent to AED 223 billion, while net financing and sukuk investments grew 4 percent to AED307 billion. Its non-performing financing ratio improved to 3.7 percent, down from 4 percent in Q4 2024. Impairment charges fell by 45 percent year-on-year to AED163 million, supported by improving asset quality. Dubai Islamic’s shares closed at AED 7.54 on Thursday up more than 6 percent year to date. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
