More than 3 fold increase in profit of Dubai Islamic Bank Pakistan
Karachi, February 16, 2015 (PPI-OT): 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, 2014. DIBPL is a fully owned subsidiary of Dubai Islamic Bank UAE, the world’s first Islamic Bank.
Alhamdulillah, The Year 2014 marked numerous achievements for DIBPL. On the financial side, the Bank reported a year-end Profit before Tax (PBT) of PKR 926 Million which is a 337% growth in PBT in comparison to 2013. Furthermore, a 24% deposit growth was achieved in comparison to 2013, taking total deposits to PKR 84 Billion in 2014.
On the asset side, DIBPL’s Total Assets rose by 27% in contrast to 2013 increasing the Total Assets base to PKR 102 Billion in 2014. The Bank’s Financings grew substantially by 66 % over the year, taking total Financings to PKR 59 Billion.
From only 36 locations (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 and Shari’a compliant new products and services.
DIBPL intends to keep the momentum going for 2015 as well and continues to strive and expand its sphere of World Class Banking expertise with the largest Shari’a compliant product suite in Retail, Corporate, Consumer, Trade, Commercial, Treasury and Investment Banking services across Pakistan.
For more information, contact:
Dubai Islamic Bank Pakistan Limited
Ph: 35368644- 0300-8232705-0331-7869229
The post More than 3 fold increase in profit of Dubai Islamic Bank Pakistan appeared first on AsiaNet-Pakistan.