Dubai Islamic Bank Q1 profit drops 46%

Thu, May 06 - 2010

Dubai Islamic Bank, the UAE's largest Islamic lender, has recorded a 46% fall in first-quarter net profit to Dhs200m, compared with Dhs370.3m in the same period in 2009. DIB said first-quarter results were impacted by its ongoing policy of 'prudent provisioning', but did not provide a figure for the provisions booked.

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Mohamed A.  09/05/2010

 DIB is a major creditor to Dubai World. The provision in question must be related to that exposure. 

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