DIB Pakistan posts after tax profit of Rs 2.5 billion

Dubai Islamic Bank Pakistan Limited recorded excellent performance and growth in 2018.The Bank posted profit before tax of PKR 4.1 billion and profit after tax of Rs. 2.5 Billion for the year ended December 31 2018 showing an increase of 61% and 57% respectively over last year.
Earnings per share stood at PKR. 2.15 per share compared to PKR. 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 PKR 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 PKR 182 billion as 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. Other three awards were received from Islamic Finance Forum of South Asia (IFFSA) & two awards from Cambridge IFA, UK in the category of Best Islamic Retail Bank in Pakistan & Best Islamic Retail Banking Brand in Pakistan respectively.

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                                2018      2017   Growth

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Profit Before Tax in PKR mi    4,120     2,564      61%

Profit After Tax in PKR mil    2,509     1,602      57%

Earnings per share - PKR        2.15      1.41      52%

Deposits in PKR million      182,187   149,295      22%

Financing in PKR million     153,306   119,522      28%

Return on Equity (%)           15.9%     11.9%     4.0%

Return on Assets (%)           1.20%     0.96%    0.24%

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