Dubai Islamic Bank Pakistan Limited has reported an impressive financial performance in 2018 with profit growth of 61 percent.
The bank posted profit of Rs. 2.5 Billion for the year ended December 31 2018, up from a profit of Rs. 1.6 billion in 2017.
Its earnings per share stood at Rs. 2.15 per share compared to Rs. 1.41 per share for 2017. The bank’s net spread before provisions increased by 26%, on the back of impressive growth in its financing portfolio by 28%, closing at Rs. 153 Billion.
The growth was witnessed across the Corporate, SME Commercial and Consumer financing portfolio. The Bank has also recorded robust growth in deposits by 22% closing at Rs. 182 billion as compared to last year.
The bank deposits base increased to Rs. 183 billion whereas the overall financing surged to Rs. 153 billion by the end of 2018 with annual growth of 22 percent and 28 percent respectively.
