External broker reports(aggregated public sources), International Securities

International Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

Dubai Islamic Bank PJSC / Equity Bottom-Up

<ul><li>DIB reported 1Q24 shareholder’s profit of AED1.5bn, in-line with estimates, up 8.3% YoY but down 24.1% QoQ due to QoQ drop in net interest and non-interest income</li><li>Operating income came 2.6% lower than our estimates, whilst net operating income came 6.2% lower as a result of higher operating cost.</li><li>Lower impairment provision, however offset weaker operating performance </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

DIB reported 1Q24 shareholder’s profit of AED1.5bn, in-line with estimates, up 8.3% YoY but down 24.1% QoQ due to QoQ drop in net interest and non-interest incomeOperating income came 2.6% lower than our estimates, whilst net operating income came 6.2% lower as a result of higher operating cost.Lower impairment provision, however offset weaker operating performance Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

DIB 1Q24 Review: Earnings up 8.3% YoY (-24.1% QoQ), In-Line with Estimates