DIBPL records profit of Rs211m, establishes 150 locations

20/04/2014 06:45 AST

The Board of Directors of Dubai Islamic Bank Pakistan Limited (DIBPL) recently held a meeting to approve its financial statements for the year ended December 31, 2013. DIBPL is a fully owned subsidiary of Dubai Islamic Bank UAE, the world’s first Islamic Bank.

The Year 2013 marked numerous achievements for DIBPL. On the financial side, the Bank reported a year-endProfit Before Provisioning of PKR 668 Million and due to provisioning of PKR 456 Million against non-performing Islamic Financing assets the Bank now has aProfit Before Tax of PKR 211 Million. Furthermore, a 27% deposit growth was achieved in comparison to 2012, taking total deposits to PKR 68% Billion in 2013. On the asset side, DIBPL’s asset base rose by 26% in contrast to 2012 increasing the asset base to PKR 80 Billion in 2013. The Bank’s investments grew substantially by 17 % over the year, taking total investments to PKR 25 Billion.

From only 36 locations (36 Branches) in October 2010, today DIBPL stands at 150 locations (125 branches and 25 branchless banking booths) in 40 cities across Pakistan. The Bank added over 40,000 more customers in 2013, taking full customer base to over 140,000.


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