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.

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.

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

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.

Dubai Islamic Bank (“DIB”, “The Bank”) recorded 47.1% YOY growth in net profit to AED 2,101 Mn in 4Q23, higher than our estimate of AED 1,685 Mn.

Dubai Islamic Bank (“DIB”, “The Bank”) recorded 19.7% YOY growth in net profit to AED 1,648 Mn in 3Q23, in line with our estimate of AED 1,664 Mn.

Dubai Islamic Bank (“DIB”, “The Bank”) net profit increased 17.4% YOY to AED 1,571 Mn in 2Q23, in line with our estimate of AED 1,525 Mn.

Dubai Islamic Bank (“DIB”, “The Bank”) net profit increased 11.1% YOY to AED 1,478 Mn in 1Q23, slightly lower than our estimate of AED 1,517 Mn.

Dubai Islamic Bank (“DIB”, “The Bank”) net profit increased 7.7% YOY to AED 1,412 Mn in 4Q22, slightly higher than our esti-mate of AED 1,393 Mn.