The Board of Directors of Dubai Islamic Bank Pakistan Limited (DIBPL) in a meeting held recently approved financial statements of the bank for the year ended December 31, 2012. The year 2012 marked numerous achievements for DIBPL. On the financial side, the bank reported a year end profit before tax of Rs 501 million.
Furthermore, a 38 percent deposit growth was achieved in comparison to 2011, taking total deposits to Rs 53.11 billion in 2012. On the asset side, DIBPL's asset base rose by 32 percent in contrast to 2011, increasing the asset base to Rs 63.5 billion in 2012. The bank's investments grew substantially by 65 percent over the year, taking total investments to Rs 21.33 billion.
DIBPL opened 25 new branches in 2012, increasing the total branch network to 100 in 35 cities. In addition, the bank also established 15 branchless banking booths mainly based to cater to growing remittance segment that require easy, safe and convenient access. The bank added over 20,000 more customers in 2012, taking full customer base to over 100,000.
DIBPL bank enjoys a short-term credit rating of 'A-1' and long-term credit rating of 'A' with a "positive" outlook, indicating the bank's robust position in the industry. DIBPL intends to keep the momentum going for 2013 as well, aiming to take the branch network to 125 branches along with opening 40 branchless banking booths. This would enable an overall footprint of 165 outlets in 40 cities nation-wide-PR