Dubai – Mubasher: Dubai Islamic Bank (DIB) announced it has raised AED 14 billion following the successful subscriptions for AED 5 billion rights issue aimed to boost the core capital.
The UAE’s biggest sharia-compliant lender also unveiled the issuance of additional shares worth AED 1.6 billion at a price of AED 3.11 per share last April, according to a press release.
The transaction has remarkably attracted many local and international investors and is deemed as part of the bank’s strategic plans to create proactive capacity that bolsters its position among the best-performing banks in the region.
The Dubai-based bank has managed to double its size and triple its profitability over the last four years, CEO of DIB Adnan Chilwan commented.
“More importantly perhaps is the fact that the bank's financial position has become stronger than ever before with vastly improved asset quality and significantly more robust balance sheet that today offers even more opportunities to grow," he said.
