Dubai Islamic Bank Pakistan Records Profit of PKR 316 Million and Doubles Branch Network In 2011
Karachi: The Board of Directors of Dubai Islamic Bank Pakistan Limited (DIBPL) recently held a meeting to approve its financial statements for the year ended December 31, 2011. DIBPL is a subsidiary of Dubai Islamic Bank UAE, the world’s first Islamic Bank.
The Year 2011 marked numerous achievements for DIBPL. On the financial side, the Bank has reported a year end Profit before Tax of PKR 316 Million. Furthermore, a 22.5% deposit growth was achieved in comparison to 2010, taking total deposits to PKR 38.49 Billion in 2011. On the asset side, DIBPL’s asset base rose by 20.8% in contrast to 2010 increasing the asset base to PKR 48.1 billion in 2011.
The Bank’s investments grew substantially by 117.6% over the year, taking total investments to PKR 12.93 Billion. DIBPL opened 39 new branches in a short span of time, taking the total branch network to 75 in 30 cities.
The Bank added over 20,000 more customers in 2011, taking full customer base to over 75,000. The Bank enjoys a short-term credit rating of ‘A-1’ and long-term credit rating of ‘A’, indicating the bank’s robust position in the industry. The Bank continues to reaffirm its commitment to Pakistan with new branches and absolutely Halal and Shari’a compliant new products and services.
DIBPL intends to keep the momentum going for 2012 as well, aiming to take the branch network to surpass 100 branches along with opening 25 Branchless Banking Booths. This would enable an overall footprint of 125 outlets nationwide.
DIBPL continues to strive and expand its sphere of World Class Banking expertise in Retail, Corporate, SME and Investment Banking services across Pakistan. The Bank’s endeavour since inception has been to provide a variety of unique and Shari’a compliant products and services to all customers.
In this respect, DIBPL has had first-mover advantage in a variety of banking services such as BancaTakaful, Branchless Banking and Cash Management Services.
DIBPL is the only Islamic Bank in Pakistan to be offering Priority and Platinum Banking and the most extensive and innovative portfolio of Alternate Distribution Channels (ADCs) which includes VISA ATM/Debit Card, Internet Banking, SMS Banking, Phone Banking, Mobile Internet Banking, Inter Bank Fund Transfer and over 50 ATMs and CDMs across Pakistan.
DIBPL is currently one of the most active players in the Consumer Autos and Home Finance industry with the combined portfolio standing way above PKR 10 Billion.
For more information, contact:
Dubai Islamic bank Pakistan limited
Ph: 35368644- 0300-8232705-0331-7869229