Recent Research

• 

  FIRST LOOK NOTES

  17 Feb 2025

  Dubai Islamic Bank (DIB)

  ACCUMULATE

  Last Closing Price

  AED 7.65

  Target Price

  AED 8.50

  Upside (%)

  +11.11%

  UAE Equity Research - Dubai Islamic Bank (DIB) 4Q24 - First Look Note

  The Bank’s NIMs increased 14 bps YOY and 38 bps QOQ to 3.2% in 4Q24. The NIMs for FY2025 are anticipated to be in the range of 2.8-3.0%. Asset quality improved as the reported NPL ratio improved to 4.0% in 4Q24 from to 4.3% in 3Q24.

  Download
• 

  EARNINGS CALL INSIGHT

  13 Feb 2025

  Dubai Islamic Bank (DIB)

  ACCUMULATE

  Last Closing Price

  AED 7.51

  Target Price

  AED 8.50

  Upside (%)

  +13.18%

  UAE Equity Research - Dubai Islamic Bank (DIB) 4Q24 - Earnings Call Insight

  Net funded income grew 12.7% YOY to AED 2.5 Bn in 4Q24, primarily due to an 8.5% YOY increase in funded income compared to a 4.8% YOY rise in funded expenses. NIMs rose 14 bps YOY and 38 bps QOQ to 3.2%, owing to lower cost of funds and higher asset yield.

  Download
• 

  FIRST LOOK NOTES

  11 Nov 2024

  Dubai Islamic Bank (DIB)

  ACCUMULATE

  Last Closing Price

  AED 6.37

  Target Price

  AED 7.25

  Upside (%)

  +13.81%

  UAE Equity Research - Dubai Islamic Bank (DIB) 3Q24 - First Look Note

  Net financing and Sukuk investment grew from AED 278 Bn in 2Q24 to AED 286 Bn in 3Q24. The Bank expects the loan book to grow and surpass the year-end guidance, driven by a strong underwriting pipeline.

  Download
• 

  EARNINGS CALL INSIGHT

  07 Nov 2024

  Dubai Islamic Bank (DIB)

  BUY

  Last Closing Price

  AED 6.30

  Target Price

  AED 7.25

  Upside (%)

  +15.08%

  UAE Equity Research - Dubai Islamic Bank (DIB) 3Q24 - Earnings Call Insight

  Net funded income declined by 3.9% YOY to AED 2,144 Mn, primarily due to increased funded expenses. NIMs declined 30 bps YOY to 2.8%, owing to higher cost of funds. Non-funded income grew 19.8% YOY to AED 883 Mn in 3Q24, attributed to higher income from investment property, increase in share of associates profit and higher income from property under construction.

  Download
• 

  FIRST LOOK NOTES

  26 Jul 2024

  Dubai Islamic Bank (DIB)

  BUY

  Last Closing Price

  AED 5.92

  Target Price

  AED 7.00

  Upside (%)

  +18.24%

  Higher gains from investment properties & lower impairments boosted profitability

  Net financing and Sukuk investment grew from AED 277 Bn in 1Q24 to AED 278 Bn in 2Q24.

  Download
• 

  FIRST LOOK NOTES

  25 Apr 2024

  Dubai Islamic Bank (DIB)

  BUY

  Last Closing Price

  AED 5.63

  Target Price

  AED 7.00

  Upside (%)

  +24.33%

  Strong non-core income and decline in impairments supported profitability

  Dubai Islamic Bank (“DIB”, “The Bank”) net profit grew 7.8% YOY to AED 1,593 Mn in 1Q24, in line with our estimate of AED 1,568 Mn.

  Download

Load more reports