Dubai Islamic Bank reported full-year 2024 group net profit of AED 8,165 million, a 16.4% increase compared with the prior year. Total income for the year rose 15.9% to AED 23,341 million. The results were announced in a press release published on the bank's website.
Pre-tax profit reached AED 9,005 million for the full year, a 26.7% increase on 2023, driven largely by a 71% fall in impairment charges to AED 407 million.
BALANCE SHEET AND ASSET QUALITY
Total assets reached AED 345 billion by the end of 2024, a 10% increase on the prior year. The non-performing financing ratio — the Sharia-compliant equivalent of the conventional non-performing loan ratio — fell to 4.0%, a reduction of 140 basis points from the 2023 level.
RETURNS
Return on tangible equity for the full year came in at 22%, an increase of 200 basis points compared with 2023. Post-tax return on assets was 2.5%.