KARACHI: Dubai Islamic Bank Pakistan Limited recorded excellent performance and growth in 2018. The bank posted profit before tax of Rs4.1 billion and profit after tax of Rs2.5 billion for the year ended December 31, 2018 showing an increase of 61% and 57%, respectively over last year. Earnings per share stood at Rs2.15 per share compared to Rs1.41 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 Rs153 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 Rs182 billion compared to last year. In 2018, the bank also achieved major feat by winning six awards globally including the coveted Pakistan banking awards in the “Best Emerging Bank” category.
Published in The Express Tribune, February 5th, 2019.
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