Dubai Bank reports profit increase of 131 per cent

Dubai: Dubai Bank on Monday said its nine-month profits jumped 131 per cent to Dh289 million this year, up from Dh125 million last year, the bank said in a statement on Monday.

The bank's nine-month unaudited financial results for the period ending in September showed customer deposits at the bank up by 110 per cent in September 2008 compared to September 2007.

Salaam Al Shaksy, CEO of Dubai Bank, said the growth is a tribute to the high standard of service delivered to Dubai Bank customers.

"We are taking decisive service quality initiatives to provide our customers with a unique experience. Our mission is to make every moment of interaction with our customers a 'moment of truth'. That is to say, delivering our products and services with transparency, accountability and professionalism at all times."

Dubai Bank is also building a strong reputation as a leader for corporate social responsibility programmes throughout the region.

Currently, Dubai Bank enjoys an A3 rating with a positive outlook from Moody's investor service.