DUBAI (Ahlul Bayt News Agency) - Dubai Islamic Bank yesterday reported a 10 per cent drop in third-quarter net profit from a year earlier.
It also said it aimed to expand its retail branch network by the end of the year.
The bank, Dubai's third-largest by market value, reported a net profit of 270 million dirhams ($73.53m) for the three months ending September 30, compared to a 300.4m dirhams profit for the third quarter of 2009.
The bank also said it took provisions of 124m dirhams in the third quarter of 2010, bringing its total provisioning for the first nine months of the year to 444m dirhams.
The bank's total assets as of September 30 stood at 81.8 billion dirhams, down from 84.3bn dirhams on December 31, 2009.
"The bank continues to adopt a conservative approach to financing and provisioning," said chairman Mohammed Al Shaibani in a statement.
source : http://www.abna.ir
