Mubasher: MubasherTrade maintained the price target (PT) of Dubai Islamic Bank (DIB) at AED 6.9, while upgrading its recommendation from “Hold” to “Buy”.
The upgrade came after positive views on DIB's future growth outlook supported by being the “largest” Islamic bank in the UAE in terms of assets and market capitalisation, in addition to having an attractive dividend yield.
DIB also has a strong operational performance, and a loan growth rate which logged a five-year compound annual growth rate (CAGR) of 17% from 2011 to 2016.
