Dubai Islamic Bank confident on loans portfolio thanks to record profit | The National

Dubai Islamic Bank confident on loans portfolio thanks to record profit | The National:



"Dubai Islamic Bank expects its loans portfolio to grow at above average levels in 2015 after its profit rose to a record last year as financing rates fell and deposits boomed.



The lender’s ambitious target of 15 to 20 per cent growth in loans this year, more than double the average nationwide figure in recent years, comes even as economists lower 2015 forecasts for UAE economic growth amid the steepest plunge in oil prices in six years.



“Economists looked at 2014 to be a very challenging year for the right reasons and if you look the other players in the industry have hardly grown above a single digit but we’ve grown high double digits,” Adnan Chilwan, the bank’s chief executive, said at a media conference at the bank’s headquarters in Dubai yesterday."



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