DIBPL posts profit of Rs1,602 million

KARACHI: Dubai Islamic Bank Pakistan (DIBPL) on Tuesday said it has posted an after tax profit of Rs16,02 million for the year ended December 31, 2017, mainly by the virtue of impressive growth in investments and financing portfolio.

“The bank’s profit before tax increased to Rs2564 million compared to Rs1371 million registered last year, which translates into a growth of 87 percent, while it also recorded earnings per share worth of Rs1.41,” a statement released by the bank said.

The handout said the DIBPL maintained a growth momentum during the year and recorded historic results during the period under review. “The bank also strengthened its balance sheet footing recording a robust growth in deposits,” it added.

It said the major growth contributors were net spread earned, which grew by 26.62 percent, and fee and commission income, which increased by 20.89 percent over the last year.