Metito s significant experience in the water sector, DIB
s clear understanding of Islamic financing and project s operating track record were the key drivers for the successful closure of the transaction.
In the first half of this year, DIB
reported a 35 per cent increase in first half net profit to Dh1.
months of the year enabled DIB
to achieve a net profit of 1.
Type 4 integration fully refactors the application into the DIB
or a new application is built into the DIB
Upon completion of this Phase 1 of the acquisition, DIB
will initiate formal regulatory approval process to obtain "Significant Shareholder Status" from the Financial Services Authority.
is expecting to conclude a deal before the end of the year and will pay for the purchase using its own cash reserves, DIB
CEO, Adnan Chilwan, reportedly said without naming the target lender.
The 100 per cent acquisition of Tamweel will enable DIB
to take advantage of the opportunities offered by the recovery and growth of the real estate sector.
His Excellency also added: "Despite such circumstances, DIB
has demonstrated its resilience in the face of challenging conditions, backed by our strong business model and commitment of our employees.
assured its shareholdersA in the statement that the investigation would have "no impact on the financial position of the bank".
Dubai Islamic Bank (DIB
), rated Baa1 (stable) Moody's / A (stable) Fitch has mandated DIB
, First Gulf Bank, HSBC, Maybank, National Bank of Abu Dhabi and Standard Chartered Bank as Joint Lead Managers to arrange a series of fixed income investor meetings in Asia and Europe commencing on 21 May 2015.
The investment in Bank Panin Syariah will involve DIB
accumulating around 25 per cent stake in Bank Panin Syariah in the initial phase, with a view to subsequently increasing its shareholding in the bank to 40 per cent upon obtaining the relevant regulatory approval, including from the Financial Services Authority (OJK) in Indonesia.
was under pressure from global investors to create additional room to allow investment by interested parties from across the globe.