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Dubai Islamic Bank posts 31% Q3 profit drop
- United Arab Emirates: Sunday, October 25 - 2009 at 09:49
Dubai Islamic Bank has recoded a 31% fall in its third-quarter net profit year-on-year, as the lender had booked higher provisions for exposure to bad loans, Reuters has reported. Provisions booked by the lender had amounted to Dhs164m in the three months to September 30, slashing its net profit to Dhs296.75m. DIB's nine-month earnings had also seen a 35% drop to Dhs1.12bn compared to a year earlier.
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StaffSunday, October 25 - 2009 at 09:49 UAE local time (GMT+4)
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