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Dubai Islamic Bank narrows losses ahead of expansion
Dubai Islamic Bank (DIB) managing director Peter Makau (left), head of retail and business banking Dan Omoro (centre) and Sharia manager Jaafar Mohamed Aman during the launch of a new DIB Mobile Banking platform at the bank’s head office in Nairobi May 11, 2018. FILE PHOTO | NMG
Dubai Islamic Bank (DIB) has narrowed its half-year losses by 11 percent to Sh403 million loss in the first six months of this year.
Increase in revenues was outpaced by rise in costs to meet expenses in staff and provision for bad loans even as the lender prepares to expand its branch network to catch more business.
