DIB repays Finance Ministry

Posted by on Apr 8th, 2013 and filed under Islamic Finance. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Dubai Islamic Bank (DIB) has repaid the Dh3,752,543,000 deposit, in full and well ahead of contractual maturity which it received from the Ministry of Finance in 2008. In March 2013, Dubai Islamic Bank announced the successful pricing of a US$1 billion Tier 1 Capital-eligible issuance, with a perpetual (non-call 6) maturity which will provide a significant boost to the current Tier 1 Capital ratio. For the 12 months ended December 31, 2012, DIB group reported a net profit of Dh1.19 billion, compared to Dh1.05 billion in 2011, an increase of 13 per cent while the bank continues to boast one of the best liquidity ratios (88.7% as December 2012) in the market.

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