Following the conclusion of its Annual General Meeting (AGM), Dubai Islamic Bank (DIB) announced that the assembly has approved the distribution of 45 fils per share as cash dividend for 2017, closing another year with strong returns to shareholders since the bank embarked on a growth agenda four years ago.
The assembly also approved the bank’s 2017 financial statements. For the year 2017, DIB reported a net profit of Dh4.5 billion, an increase of 11 per cent compared to Dh4.05 billion in 2016.
The AGM has also approved DIB’s capital increase by way of rights issue to further bolster the bank’s CET1 and facilitate credit expansion in 2018. The rights will be offered after obtaining the required approval from relevant regulatory authorities.