Dubai Islamic Bank Pakistan has witnessed a turnaround in the last few years in to a profitable entity with sustainable growth trajectory. In 2018, the Bank achieved its bottom line target of PKR 2.5 Billion and has maintained its growth momentum in 2019; and continues to record consistent bottom line results in the first six months of the current financial year.
The sustainable growth has been achieved due to focused strategy adopted in in commercial & consumer financing portfolio yielding higher returns, and further strengthening of non-funded income streams from trade finance, foreign exchange and corporate advisory services.
Dubai Islamic Bank Pakistan has consolidated its position as one of the leading Islamic Bank. The Bank with the support of State Bank of Pakistan and joint effort with the Islamic Banking industry, has devised phase wise awareness campaigns which has provided a trickledown effect to educate the masses about Islamic Banking and remove the misconceptions. Moreover, coupled with the growth in the network of Islamic Banks has surged the demand for Islamic Finance in the Consumer Finance segment.
Dubai Islamic Bank Pakistan has always put customer experience at the core of its business. This is evident to the fact that the financials of the Bank are growing at a consistent pace. Receiving the coveted CFA Society Annual Excellence Award 2019 in the Best Islamic Bank category is a testament of the customers trust in Banking with us. This award is in continuation of the laurels received by the Bank in 2018 where the Bank won six awards globally including the 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.
The Banking landscape has changed dramatically in the past few years with the advent of digital disruption which has led to banks in Pakistan make significant strides in improving the customer experience through Digitization of services. Customers now demand an immediate, quicker and seamless banking experience; hence digitalization is the core to achieving competitive advantage and crucially maintaining long term relationships. Dubai Islamic Bank Pakistan endeavors to become a digitally intelligent bank in Pakistan's banking industry. With increased digital data and analytics in hand, DIB Pakistan intends to make data-driven decisions and introduce innovative products and services which meet and exceed the customers' expectations.
Dubai Islamic Bank Pakistan is expanding its local footprint with an addition of thirty five branches by end of the year. Being a wholly owned subsidiary of Dubai Islamic Bank UAE, Dubai Islamic Bank Pakistan is operating in the local market since 2006 which shows the confidence and unwavering support of DIB UAE to Pakistan's economy.
Copyright Business Recorder, 2019
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