Interim report
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Dubai Islamic Bank P.J.S.C. Review report and condensed consolidated interim financial information for the nine-month period ended 30 September 2025
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Dubai Islamic Bank P.J.S.C. Review report and condensed consolidated interim financial information (Unaudited) for the nine-month period ended 30 September 2025 Pages Report on review of condensed consolidated interim financial information 1 - 2 Condensed consolidated interim statement of financial position 3 Condensed consolidated interim statement of profit or loss 4 Condensed consolidated interim statement of comprehensive income 5 Condensed consolidated interim statement of changes in equity 6 Condensed consolidated interim statement of cash flows 7 - 8 Notes to the condensed consolidated interim financial information 9 – 29
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KPMG Lower Gulf Limited The Offices 5 at One Central Level 4, Office No: 04.01 Sheikh Zayed Road, P.O. Box 3800 Dubai, United Arab Emirates Tel. +971 (4) 4030300, www.kpmg.com/ae ©2025 KPMG Lower Gulf Limited, licensed in the United Arab Emirates and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. KPMG Lower Gulf Limited (Dubai Branch) is registered and licensed under the laws of the United Arab Emirates. 1 Independent Auditors’ Report on Review of Condensed Consolidated Interim Financial Information To the Board of Directors of the Dubai Islamic Bank PJSC Introduction We have reviewed the accompanying 30 September 2025 condensed consolidated interim financial information of Dubai Islamic Bank PJSC (the “Bank”) and its subsidiaries (the “Group”), consisting of: the condensed consolidated interim statement of financial position as at 30 September 2025; the condensed consolidated interim statement of profit or loss for the three-month and nine- month periods ended 30 September 2025; the condensed consolidated interim statement of comprehensive income for the three-month and nine-month periods ended 30 September 2025; the condensed consolidated interim statement of changes in equity for the nine-month period ended 30 September 2025; the condensed consolidated interim statement of cash flows for the nine-month period ended 30 September 2025; and notes to the condensed consolidated interim financial information. Management is responsible for the preparation and presentation of this condensed consolidated interim financial information in accordance with IAS 34, ‘Interim Financial Reporting’. Our responsibility is to express a conclusion on this condensed consolidated interim financial information based on our review.
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Dubai Islamic Bank PJSC Independent Auditors’ Report on Review of Condensed Consolidated Interim Financial Information 30 September 2025 ©2025 KPMG Lower Gulf Limited, licensed in the United Arab Emirates and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved. KPMG Lower Gulf Limited (Dubai Branch) is registered and licensed under the laws of the United Arab Emirates. 2 Scope of Review We conducted our review in accordance with the International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity”. A review of condensed consolidated interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. Conclusion Based on our review, nothing has come to our attention that causes us to believe that the accompanying 30 September 2025 condensed consolidated interim financial information is not prepared, in all material respects, in accordance with IAS 34, ‘Interim Financial Reporting’. Other Matter – Comparative Information The condensed consolidated interim financial information of the Group for the nine-month period ended 30 September 2024, were reviewed by another auditor who expressed an unmodified conclusion on those condensed consolidated interim financial information on 5 November 2024 and the consolidated financial statements of the Group for the year ended 31 December 2024 were audited by another auditor who expressed an unmodified opinion on those consolidated financial statements on 11 February 2025. KPMG Lower Gulf Limited Maher AlKatout Registration No.: 5453 Dubai, United Arab Emirates Date:
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Dubai Islamic Bank P.J.S.C. 4 Condensed consolidated interim statement of profit or loss (Unaudited) for the nine-month period ended 30 September 2025 Three-month period ended 30 September Nine-month period ended 30 September Note 2025 AED’000 2024 AED’000 2025 AED’000 2024 AED’000 NET INCOME Income from Islamic financing and investing transactions 5,049,642 4,820,132 14,344,437 14,337,414 Commissions, fees and foreign exchange income 505,383 330,010 1,437,192 1,242,220 Income from other investments measured at fair value, net 3,970 1,014 13,354 14,311 Income from properties held for development and sale, net 142,310 90,312 365,197 229,157 Income from investment properties 45,109 182,225 425,845 567,060 Share of profit from associates and joint ventures 98,512 136,195 342,290 278,697 Other income 175,142 143,512 445,526 326,188 ———— — — ———— ———— — — ———— Total income 6,020,068 5,703,400 17,373,841 16,995,047 Less: depositors’ and sukuk holders’ share of profit (2,716,740) (2,676,047) (7,698,003) (7,909,711) ————— — ———— ————— — ———— Net income 3,303,328 3,027,353 9,675,838 9,085,336 ————— — ———— ————— — ———— OPERATING EXPENSES Personnel expenses (579,534) (519,501) (1,652,376) (1,487,445) General and administrative expenses (322,146) (282,398) (921,409) (876,156) Depreciation of investment properties (13,464) (16,503) (41,454) (50,405) Depreciation of property and equipment (51,202) (50,459) (158,391) (140,015) ————— — ———— ————— — ———— Total operating expenses (966,346) (868,861) (2,773,630) (2,554,021) ————— — ———— ————— — ———— Net operating income before impairment charges 2,336,982 2,158,492 6,902,208 6,531,315 Impairment charges, net 19 (35,559) 122,629 (291,787) (529,676) ————— — ———— ————— — ———— Net profit for the period before income tax expense 2,301,423 2,281,121 6,610,421 6,001,639 Income tax expense 20 (350,518) (210,241) (929,027) (553,246) ————— — ———— ————— — ———— Net profit for the period 1,950,905 2,070,880 5,681,394 5,448,393 ========= ========= ========= ========= Attributable to: Owners of the Bank 1,863,006 2,030,034 5,460,706 5,299,775 Non-controlling interests 87,899 40,846 220,688 148,618 ————— — ———— ————— — ———— Net profit for the period 1,950,905 2,070,880 5,681,394 5,448,393 ========= ========= ========= ========= Basic and diluted earnings per share (AED per share) 21 0.26 0.27 0.72 0.69 ========= ======== ========= ========= The notes on pages 9 to 29 form an integral part of the condensed consolidated interim financial information.
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Dubai Islamic Bank P.J.S.C. 5 Condensed consolidated interim statement of comprehensive income (Unaudited) for the nine-month period ended 30 September 2025 Three-month period ended 30 September Nine-month period ended 30 September 2025 AED’000 2024 AED’000 2025 AED’000 2024 AED’000 Net profit for the period 1,950,905 2,070,880 5,681,394 5,448,393 ———— — —— — ———— — ——— Other comprehensive income / (loss) items Items that will not be reclassified subsequently to profit or loss: Fair value gain / (loss) on other investments carried at FVTOCI, net (50,312) 4,317 669 (44,984) Items that may be reclassified subsequently to profit or loss: Exchange differences on translation of foreign operations, net (226,179) (208,784) (333,834) (264,974) Fair value gain on sukuk investment carried at FVTOCI, net 3,925 5,282 7,577 9,738 ———— — —— — ———— — ——— Other comprehensive loss for the period (272,566) (199,185) (325,588) (300,220) ———— — —— — ———— — ——— Total comprehensive income for the period 1,678,339 1,871,695 5,355,806 5,148,173 ======= ======= ======= ======= Attributable to: Owners of the Bank 1,592,129 1,830,915 5,135,740 4,999,655 Non-controlling interests 86,210 40,780 220,066 148,518 ———— — —— — ———— — ——— Total comprehensive income for the period 1,678,339 1,871,695 5,355,806 5,148,173 ======= ======= ======= ======= The notes on pages 9 to 29 form an integral part of the condensed consolidated interim financial information.
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Dubai Islamic Bank P.J.S.C. 6 Condensed consolidated interim statement of changes in equity (Unaudited) for the nine-month period ended 30 September 2025 ------------------------ Equity attributable to owners and Sukuk-holders of the Bank --- ------------------------------- Share capital Tier 1 Sukuk Other reserves and treasury shares Investment fair value reserve Exchange translation reserve Retained earnings Total Non- controlling interests Total equity AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 Balance at 1 January 2024 7,240,744 8,264,250 14,784,668 (1,331,986) (1,741,437) 17,341,070 44,557,309 2,876,824 47,434,133 Net profit for the period - - - - - 5,299,775 5,299,775 148,618 5,448,393 Other comprehensive loss for the period - - - (35,146) (264,974) - (300,120) (100) (300,220) -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- Total comprehensive income / (loss) for the period - - - (35,146) (264,974) 5,299,775 4,999,655 148,518 5,148,173 -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- Transaction directly in equity: Dividend (note 27) - - - - - (3,252,200) (3,252,200) (96,303) (3,348,503) Zakat adjustment - - - - - 425 425 15 440 Tier 1 Sukuk profit distribution - - - - - (288,101) (288,101) - (288,101) Transfer on disposal of investments carried at FVTOCI - - - 17,987 - (17,987) - - - Regulatory credit risk reserve - - 361,000 - - (361,000) - - - Others - - - - - 2,607 2,607 15,829 18,436 -------------------- -------------------- -------------------- ---------------------- ---------------------- ---------------------- --------------------- -------------------- --------------------- Balance at 30 September 2024 7,240,744 8,264,250 15,145,668 (1,349,145) (2,006,411) 18,724,589 46,019,695 2,944,883 48,964,578 ======= ======= ======== ======== ======== ======== ======== ======= ======== Balance at 1 January 2025 7,240,744 10,100,750 15,874,668 (1,267,060) (2,028,690) 19,904,386 49,824,798 3,028,081 52,852,879 Net profit for the period - - - - - 5,460,706 5,460,706 220,688 5,681,394 Other comprehensive gain / (loss) for the period - - - 8,868 (333,834) - (324,966) (622) (325,588) -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- Total comprehensive income / (loss) for the period - - - 8,868 (333,834) 5,460,706 5,135,740 220,066 5,355,806 -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- Transaction directly in equity: Dividend (note 27) - - - - - (3,252,200) (3,252,200) (120,379) (3,372,579) Zakat adjustment - - - - - - - (4,431) (4,431) Tier 1 Sukuk redemption - (2,754,750) - - - - (2,754,750) - (2,754,750) Tier 1 Sukuk profit distribution - - - - - (250,223) (250,223) - (250,223) Transfer on disposal of investments carried at FVTOCI - - - 22,543 - (22,543) - - - Regulatory credit risk reserve - - (270,000) - - 270,000 - - - Others - - - - - 2,404 2,404 14,889 17,293 -------------------- -------------------- ---------------------- ---------------------- ---------------------- ---------------------- --------------------- -------------------- --------------------- Balance at 30 September 2025 7,240,744 7,346,000 15,604,668 (1,235,649) (2,362,524) 22,112,530 48,705,769 3,138,22 6 51,843,995 ======= ======= ======== ======== ======== ======== ======== ======= ======== The notes on pages 9 to 29 form an integral part of the condensed consolidated interim financial information.
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Dubai Islamic Bank P.J.S.C. 7 Condensed consolidated interim statement of cash flows (Unaudited) for the nine-month period ended 30 September 2025 The notes on pages 9 to 29 form an integral part of the condensed consolidated interim financial information. Nine-month period ended 30 September 2025 2024 AED’000 AED’000 Operating activities Profit for the period before income tax expense 6,610,421 6,001,639 Adjustments for: Share of profit from associates and joint ventures (342,290) (278,697) Income from properties held for sale (365,197) (229,157) Dividend income (13,354) (14,311) Gain on sale of investments in Sukuks (344) (96,644) Gain on disposal of investment properties (330,024) (470,326) Depreciation of property and equipment 158,391 140,015 Gain on disposal of property and equipment 132 (128) Depreciation of investment properties 41,454 50,405 Provision for employees’ end-of-services benefit 31,279 43,355 Amortization of Sukuk premium / discount (668) 127 Amortization of intangible assets 5,273 7,909 Impairment charge for the period, net 291,787 529,676 ---------------------- ---------------------- Operating cash flow before changes in operating assets and liabilities 6,086,860 5,683,863 Increase in Islamic financing and investing assets (36,472,172) (7,952,832) Increase in receivables and other assets (2,142,539) (278,531) Increase in customers’ deposits 53,421,075 14,767,095 Decrease in due to banks and financial institutions (2,360,450) (6,797,675) Increase in payables and other liabilities 835,246 1,193,303 ---------------------- ---------------------- Cash generated from operations 19,368,020 6,615,223 Employees’ end-of-services benefit paid (19,102) (16,650) Tax paid (759,436) (102,650) ---------------------- ---------------------- Net cash generated from operating activities 18,589,482 6,495,923 ---------------------- ---------------------- Investing activities Net movement in investments in Sukuk measured at amortised cost (12,963,287) (10,695,504) Additions to investment properties (34,054) - Purchase of property and equipment, net (229,688) (178,171) Purchase of properties held for development and sale (947,410) (569,601) Proceeds from disposal of properties held for development and sale 1,177,437 817,448 Proceeds from disposal of investment properties 424,646 508,225 Net movement in other investments measured at fair value 38,095 11,338 Dividend received 13,354 14,311 Addition in investments in associates and joint ventures, net (190,886) (2,030) ---------------------- ---------------------- Net cash used in investing activities (12,711,793) (10,093,984) ---------------------- — ————
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Dubai Islamic Bank P.J.S.C. 8 Condensed consolidated interim statement of cash flows (Unaudited) for the nine-month period ended 30 September 2025 The notes on pages 9 to 29 form an integral part of the condensed consolidated interim financial information. . Nine-month period ended 30 September 2025 2024 AED’000 AED’000 Financing activities Issuance of Sukuk financing instrument - 3,673,000 Repayment of Sukuk financing instruments (2,754,750) - Tier 1 Sukuk redemption (2,754,750) - Tier 1 Sukuk profit distribution (250,223) (288,101) Tier 1 Sukuk issuance cost (608) (97) Dividend paid (3,372,579) (3,348,503) ---------------------- ---------------------- Net cash (used in) / generated from financing activities (9,132,910) 36,299 ---------------------- ---------------------- Net decrease in cash and cash equivalents (3,255,221) (3,561,762) Cash and cash equivalents at the beginning of the period 32,342,578 28,503,211 Effect of exchange rate changes on the balance of cash held in foreign currencies (34,978) 7,288 ---------------------- ---------------------- Cash and cash equivalents at the end of the period (note 22) 29,052,379 24,948,737 ========= =========
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 9 1. General information Dubai Islamic Bank (Public Joint Stock Company) (“the Bank”) was incorporated by an Amiri Decree issued on 29 Safar 1395 Hijri, corresponding to 12 March 1975 by His Highness, the Ruler of Dubai, to provide banking and related services based on Islamic Sharia principles. It was subsequently registered under the Commercial Companies Law number 8 of 1984 (as amended) as a Public Joint Stock Company which is replaced by the UAE Federal Law No. 32 of 2021 on Commercial Companies (the “New Companies Law”). The condensed consolidated interim financial information combine the activities of the Bank and its subsidiaries as disclosed in Note 29 to these condensed consolidated interim financial information (together referred to as the “Group”). The Bank is listed on the Dubai Financial Market (Ticker: “DIB”). The Group is primarily engaged in corporate, retail and investment banking activities in accordance with Islamic Sharia principles under the guidance of Internal Sharia Supervision Committee (“ISSC”) and Higher Sharia Authority of Central Bank of UAE (“HSA”) and carries out its operations through its local branches and overseas subsidiaries. The principal activities of the Group entities are described in note 29 (a) to the condensed consolidated interim financial information. The registered head office of the Bank is at P.O. Box 1080, Dubai, United Arab Emirates (“U.A.E.”). 2. Application of new and revised International Financial Reporting Standards (“IFRS”) 2.1 New and revised IFRS applied with no material effect on the condensed consolidated interim financial information The following new and revised IFRS, which became effective for annual periods beginning on or after 1 January 2025, have been adopted in the condensed consolidated interim financial information. The application of these revised IFRS has not had any material impact on the amounts reported for the current and prior years but may affect the accounting for future transactions or arrangements. Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates relating to Lack of Exchangeability. 2.2 New and revised IFRSs in issue but not yet effective The Group has not early adopted the following new and revised standards that have been issued but are not yet effective. The management is in the process of assessing the impact of the new requirements. New and revised IFRS Effective for annual periods be ginning on or after Amendment to IFRS 9 and IFRS 7 relating to classification and measurement of financial instruments 01 January 2026 Annual improvements to IFRS Accounting Standards 01 January 2026 IFRS 18 Presentation and Disclosures in Financial Statements 01 January 2027 Amendment to IFRS 10 Consolidated Financial Statements and IAS 28 Investments in Associates and Joint Ventures relating to treatment of sale or contribution of assets from investors Effective date deferred indefinitely. Management anticipates that these new standards, interpretations and amendments will be adopted in the Group’s financial statements for the period of initial application.
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 10 3. Basis of preparation 3.1 Statement of compliance The condensed consolidated interim financial information is prepared in accordance with International Accounting Standard 34. “Interim Financial Reporting ” issued by the International Accounting Standards Board and applicable requirements of the laws of the U.A.E., including the UAE Federal Law No. 32 of 2021 on Commercial Companies (the “New Companies Law”) which was issued on 20 September 2021 and has come into effect on 02 January 2022 and the Decretal Federal Law No. (14) of 2018. The condensed consolidated interim financial information does not include all the information required for a complete set of IFRS consolidated financial statements and should be read in conjunction with the Group’s audited consolidated financial statements for the year ended 31 December 2024. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group’s financial position and performance since the last annual audited consolidated financial statements as at and for the year ended 31 December 2024. The accounting policies applied by the Group in preparation of the condensed consolidated interim financial information are consistent with those applied by the Group in its annual consolidated financial statements as at and for the year ended 31 December 2024. 3.2 Judgments and estimates The preparation of the condensed consolidated interim financial information requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, equity, income and expense. Actual amount may differ from these estimates. In preparing the condensed consolidated interim financial information, the significant judgments made by management in applying the Group’s accounting policies and the key sources of estimates uncertainty were the same as those which were applied to the audited consolidated financial statements as at and for the year ended 31 December 2024.
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 11 4. Cash and balances with central banks 4.1 Analysis by category Unaudited Audited 30 September 31 December 2025 2024 Note AED’000 AED’000 Cash on hand 1,945,435 1,999,306 Balances with the central banks: Balances and reserve requirements with central banks 4.3 17,612,630 17,688,630 International Murabaha with the Central Bank of the U.A.E. 6,019,726 7,012,532 ––––––––– ––––––––– Total 25,577,791 26,700,468 ======== ======== Balances with Central Banks are in stage 1 as at 30 September 2025 and 31 December 2024. 4.2 Analysis by geography Unaudited Audited 30 September 31 December 2025 2024 AED’000 AED’000 Within the U.A.E. 25,194,349 26,254,870 Outside the U.A.E. 383,442 445,598 ––––––––– ––––––––– Total 25,577,791 26,700,468 ======== ======== 4.3 Statutory cash reserve requirements The reserve requirements are kept with the Central Banks of the U.A.E., Pakistan and Kenya in the respective local currencies and US Dollar. These reserves are available for use in the Group’s day to day operations under specified conditions. The level of reserve required by Central Bank of the UAE changes every 14 days whereas for other jurisdictions changes every month in line with the requirements of the respective central banks’ directives. 5. Due from banks and financial institutions 5.1 Analysis by category Unaudited Audited 30 September 31 December 2025 2024 AED’000 AED’000 Current accounts 1,718,727 1,954,571 Wakala deposits 289,579 1,137,577 Treasury Placement (Commodity Murabaha) - short term 1,469,200 2,552,880 Less: Provision for impairment (2,918) (2,918) ––––––––––– ––––––––––– Total 3,474,588 5,642,110 ======== ======== 5.2 Analysis by geography Unaudited Audited 30 September 31 December 2025 2024 AED’000 AED’000 Within the U.A.E. 1,278,327 3,096,242 Outside the U.A.E. 2,196,261 2,545,868 ––––––––––– ––––––––––– Total 3,474,588 5,642,110 ======== ======== Due from banks and financial institutions are in stage 1 at 30 September 2025 and 31 December 2024.
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 12 6. Islamic financing and investing assets, net 6.1 Analysis by category Unaudited Audite d 30 September 31 December 2025 2024 Note AED’000 AED’000 Islamic financing assets Vehicles Murabaha 15,735,582 13,204,627 Commodity murabaha - long term 92,796,010 64,368,770 Other Murabaha 1,902,194 3,388,585 ----------------------- ---------------------- Total murabahas 110,433,786 80,961,982 Ijarah 35,063,453 36,352,657 Home Finance Ijarah 31,949,952 27,132,738 Personal Finance 28,466,157 24,423,117 Istisna’a & Forward Ijarah 492,795 594,000 Credit/covered cards 4,144,191 3,611,172 ----------------------- ––––––––––– 210,550,334 173,075,666 Less: deferred income (5,326,301) (4,847,735) ----------------------- ----------------------- Total Islamic financing assets 205,224,033 168,227,931 ----------------------- –––––––––– Islamic investing assets Musharaka 4,506,423 4,375,147 Mudaraba 9,481,028 8,188,545 Wakala 35,859,336 38,395,817 ----------------------- ---------------------- Total Islamic investing assets 49,846,787 50,959,509 ----------------------- –––––––––– Total Islamic financing and investing assets 255,070,820 219,187,440 Less: provisions for impairment 6.3 (6,769,713) (6,760,692) ----------------------- –––––––––– Total Islamic financing and investing assets, net 248,301,107 212,426,748 ========= ========= The financing balance includes an amount of AED 285.7 million (2024: 275.0 million) carried at fair value through profit or loss.
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 13 6. Islamic financing and investing assets, net (continued) 6.2 Carrying value of exposure by internal risk rating category and by stage As at 30 September 2025 (Unaudited) Gross book values (AED’000) Expected credit loss (AED’000) Stage 1 Stage 2 Stage 3 POCI Total Stage 1 Stage 2 Stage 3 POCI Total Low 91,934,244 - - - 91,934,2 44 24,412 - - - 24,412 Moderate 134,071,769 6,626,254 - - 140,698,023 855,800 368,708 - - 1,224,508 Fair 10,289,577 4,087,686 - - 14,377,263 242,107 374,946 - - 617,053 Default - - 7,556,169 505,121 8,061,290 - - 4,626,235 277,505 4,903,740 –––––––––– –––––––––– ––––––––– ––––––––– –––––––––– ––––––––– ––––––––– –––––––––– ––––––––– –––––––––– Total 236,295,590 10,713,940 7,556,169 505,121 255,070,820 1,122,319 743,654 4,626,235 277,505 6,769,713 ========= ========= ======== ======== ========= ======== ======== ========= ======== ========= As at 31 December 2024 (Audited) Gross book values (AED’000) Expected credit loss (AED’000) Stage 1 Stage 2 Stage 3 POCI Total Stage 1 Stage 2 Stage 3 POCI Total Low 74,317,439 - - - 74,317,439 24,712 - - - 24,712 Moderate 115,371,255 6,517,540 - - 121,888,795 588,220 525,398 - - 1,113,618 Fair 9,478,119 4,364,961 - - 13,843,080 178,747 320,766 - - 499,513 Default - - 8,606,826 531,300 9,138,126 - - 4,832,180 290,669 5,122,849 –––––––––– ––––––––– ––––––––– ––––––––– –––––––––– ––––––––– –––––––– –––––––––– ––––––––– –––––––––– Total 199,166,813 10,882,501 8,606,826 531,300 219,187,440 791,679 846,164 4,832,180 290,669 6,760,692 ========= ======== ======== ======== ========= ======== ======== ========= ======== =========
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 14 6. Islamic financing and investing assets, net (continued) 6.3 Provision for impairment Note Stage 1 Stage 2 Stage 3 POCI Total 2025 (Unaudited) AED’000 AED’000 AED’000 AED’000 AED’000 Balance at 1 January 791,679 846,164 4,832,180 290,669 6,760,692 Net charge during the period 19 328,013 (86,731) 151,521 - 392,803 Transfer to other stages (41,329) (5,528 ) 46,857 - - Write off - - (604,395) - (604,395) Exchange and other adjustments 43,956 (10,251) 200,072 (13,164) 220,613 –––––––– –––––––– ––––––––– –––––––– ––––––––– Balance at 30 September 1,122,319 743,654 4,626,235 277,505 6,769,713 ======= ======= ======== ======= ======== Stage 1 Stage 2 Stage 3 POCI Total 2024 (Audited) AED’000 AED’000 AED’000 AED’000 AED’000 Balance at 1 January 950,721 1,273,964 6,393,479 284,470 8,902,634 Net charge during the year 187,441 (124,672) 345,144 (490) 407,423 Transfer to other stages (403,000) (110,684) 513,684 - - Write off - - (2,724,530) - (2,724,530) Exchange and other adjustments 56,517 (192,444) 304,403 6,689 175,165 –––––––– –––––––– ––––––––– –––––––– ––––––––– Balance at 31 December 791,679 846,164 4,832,180 290,669 6,760,692 ======= ======= ======== ======= ======== 6.4 Analysis by geography Unaudited Audited 30 September 31 Decembe r 2025 2024 Note AED’000 AED’000 Within the U.A.E. 211,539,732 191,575,370 Outside the U.A.E. 43,531,088 27,612,070 –––––––––– –––––––––– Total Islamic financing and investing assets 255,070,820 219,187,440 Less: provisions for impairment 6.3 (6,797,713) (6,760,692) –––––––––– –––––––––– Total Islamic financing and investing assets, net 248,273,107 212,426,748 ========= ========= 7. Investments in Sukuk Unaudited Audited 30 September 31 December 2025 2024 AED’000 AED’000 Within the U.A.E. 29,025,499 27,892,209 Other G.C.C. Countries 39,880,741 31,954,242 Rest of the world 26,484,255 22,625,532 -------------------- -------------------- 95,390,495 82,471,983 Less: provision for impairment (272,009) (311,249) -------------------- -------------------- Total 95,118,486 82,160,734 ======== ========
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 15 7. Investments in Sukuk, continued Investments in Sukuk include investments in bilateral Sukuk amounting to AED 2.6 billion as at 30 September 2025 (31 December 2024: AED 4.7 billion). Investment in Sukuk include an amount of AED 217.3 million as at 30 September 2025 (31 December 2024: 220.0 million) which is measured at fair value through other comprehensive income. Investment in Sukuk classified at stage 3 at 30 September 2025 amounts to AED 33.5 million (31 December 2024: AED 27.9 million) respectively with the remaining investment classified at Stage 1. 8. Other investments measured at fair value Within the U.A.E. Other G.C.C. countries Rest of the world Total 30 September 2025 (Unaudited) AED’000 AED’000 AED’000 AED’000 Investments measured at fair value through other comprehensive income Quoted instruments 94,204 21,360 5,137 120,701 Unquoted instruments 34,180 23,173 387,665 445,018 ------------------ - ---------------- - ------------------ ------------------ Total 128,384 44,533 392,802 565,719 ======== ======= ======= ======= Within the U.A.E. Other G.C.C. countries Rest of the world Total 31 December 2024 (Audited) AED’000 AED’000 AED’000 AED’000 Investments measured at fair value through other comprehensive income Quoted instruments 172,626 16,518 21,275 210,419 Unquoted instruments 144,297 24,098 406,590 574,985 –––––––– –––––––– –––––––– –––––––– Total 316,923 40,616 427,865 785,404 ======= ======= ======= ======= 9. Investment in associates and joint ventures Unaudited Audited 30 September 31 December 2025 2024 AED’000 AED’000 Balance at 1 January 2,502,668 2,431,828 Additions 200,082 32,015 Share of profit 343,167 485,268 Dividend received (4,313) (152,543) Exchange translation reserve and others (113,587) (293,900) -------------------- ––––––––– Total 2,928,017 2,502,668 ======== ========
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 16 10. Investment properties Other real estate Investment properties under construction Land Total 30 September 2025 (Unaudited) AED’000 AED’000 AED’000 AED’000 Carrying Amount: Within the U.A.E. 1,841,369 1,223,966 1,596,880 4,662,215 Outside the U.A.E. 141 - 52,652 52,793 ------------------- ------------------- - ---------------- - ------------------- Total 1,841,510 1,223,966 1,649,532 4,715,008 ======== ======== ======= ======== 31 December 2024 (Audited) Carrying Amount: Within the U.A.E. 1,886,393 1,223,966 1,357,275 4,467,634 Outside the U.A.E. 148 - 52,701 52,849 ––––––––– ––––––––– –––––––– ––––––––– Total 1,886,541 1,223,966 1,409,976 4,520,483 ======== ======== ======= ======== 11. Receivables and other assets Other receivables include overdraft balances that do not meet the definition of Islamic financing and investing assets, net of provision amounting to AED 188.1 million (31 December 2024: AED 297.0 million) in stage 3. 12. Customers’ deposits Unaudited Audited 30 September 31 December 2025 2024 AED’000 AED’000 Current accounts 46,257,930 40,812,670 Saving accounts 62,702,022 53,121,280 Investment deposits (Term deposits based on Mudaraba and Wakala) 192,284,975 153,945,440 Margin accounts 474,982 390,912 Depositors’ investment risk reserve 22,370 20,954 Depositors’ share of profit payable 189,239 254,499 ---------------------- –––––––––– Total 301,931,518 248,545,755 ========= ========= 13. Due to banks and financial institutions Unaudited Audited 30 September 31 December 2025 2024 AED’000 AED’000 Current accounts with banks 15,279 58,222 Investment deposits (Term deposits based on Mudaraba) 3,478,764 5,796,271 ---------------------- –––––––––– Total 3,494,043 5,854,493 ========= =========
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 17 14. Sukuk issued The analysis of the Sukuk instruments issued by the Group is as follows: Expected annual profit rate Maturity 2025 AED’000 2024 AED’000 Listed Sukuk - Irish Stock Exchange / Nasdaq Dubai Sukuk issued by the Bank 2.95% February 2025 - 2,754,572 Sukuk issued by the Bank 2.95% January 2026 4,775,231 4,776,077 Sukuk issued by the Bank 1.96% June 2026 3,673,000 3,673,000 Sukuk issued by the Bank 2.74% February 2027 2,754,750 2,754,750 Sukuk issued by the Bank 5.49% November 2027 2,754,750 2,754,750 Sukuk issued by the Bank 4.80% August 2028 3,673,000 3,673,000 Sukuk issued by the Bank 5.24% March 2029 3,673,000 3,673,000 Private placement Sukuk issued by a subsidiary 6M Kibor + 70 bps December 2032 54,516 53,415 Sukuk issued by a subsidiary 3M Kibor + 175 bps December 2028 41,307 41,833 ------------------- - ––––––––– Total 21,399,554 24,154,397 ======== ======== 15. Share capital As at 30 September 2025, 7,240,744,377 authorised ordinary shares of AED 1 each (2024: 7,240,744,377 ordinary shares of AED 1 each) were fully issued and paid up. 16. Tier 1 Sukuk SPV (“the Issuer”) Date of issuance Discretionary profit rate Callable period Issuance amount Equivalent AED ‘000 --------------------------------------------- - (Unaudited) (Audited) 30 September 2025 31 December 2024 DIB Tier 1 Sukuk (3) Limited January 2019 6.25% per annum paid semi-annually On or after January 2025 - 2,754,750 DIB Tier 1 Sukuk (4) Limited November 2020 4.63% per annum paid semi-annually On or after May 2026 3,673,000 3,673,000 DIB Tier 1 Sukuk (5) Limited April 2021 3.38% per annum paid semi-annually On or after October 2026 1,836,500 1,836,500 DIB Tier 1 Sukuk (6) Limited October 2024 5.25% per annum paid semi-annually On or after April 2030 1,836,500 1,836,500 ------------------ - ––––––––– 7,346,000 10,100,750 ======== ======== Tier 1 Sukuk is a perpetual security in respect of which there is no fixed redemption date and constitutes direct, unsecured, subordinated obligations (senior only to share capital) of the Bank subject to the terms and conditions of the Mudaraba Agreement. The Tier 1 Sukuk are listed on the Irish Stock Exchange and Dubai Financial Market / Nasdaq Dubai, callable by the Bank after the “First Call Date” or any profit payment date thereafter subject to certain redemption conditions. The net proceeds of Tier 1 Sukuk are invested by way of Mudaraba with the Bank (as Mudarib) on an unrestricted co-mingling basis, by the Bank in its general business activities carried out through the Mudaraba Common pool.
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 18 16. Tier 1 Sukuk (continued) At the Issuer’s sole discretion, it may elect not to make any Mudaraba profit distributions expected and the event is not considered an event of default. In such event, the Mudaraba profit will not be accumulated but forfeited to the issuer. If the Issuer makes a non-payment election or a non-payment event occurs, then the Bank will not (a) declare or pay any distribution or dividend or make any other payment on, and will procure that no distribution or dividend or other payment is made on ordinary shares issued by the Bank, or (b) directly or indirectly redeem, purchase, cancel, reduce or otherwise acquire ordinary shares issued by the Bank. 17. Other reserves and treasury shares Movement of other reserves and treasury shares during the period / year ended 30 September 2025 and 31 December 2024 is as follows: Statutory reserve General reserve Regulatory credit risk reserve Treasury shares Total AED’000 AED’000 AED’000 AED’000 AED’000 2025 (Unaudited) Balance at 1 January 2025 11,465,984 2,350,000 2,090,000 (31,316) 15,874,668 Transfer to retained earnings - - (270,000) - (270,000) -------------------- ----------------- ----------------- ---------------- -------------------- Balance at 30 September 2025 11,465,984 2,350,000 1,820,000 (31,316) 15,604,668 ======== ======= ======= ====== ======== 2024 (Audited) Balance at 1 January 2024 11,465,984 2,350,000 1,000,000 (31,316) 14,784,668 Transfer from retained earnings - - 1,090,000 - 1,090,000 ––––––––– –––––––– –––––––– ––––––– ––––––––– Balance at 31 December 2024 11,465,984 2,350,000 2,090,000 (31,316) 15,874,668 ======== ======= ======= ====== ======== The Group holds 13,633,477 treasury shares (2024: 13,633,477 shares) amounting to AED 31.3 million (2024: AED 31.3 million). 18. Contingent liabilities and commitments The analysis of contingent liabilities and commitments as at 30 September 2025 and 31 December 2024 is as follows: Unaudited 30 September Audited 31 December 2025 2024 AED’000 AED’000 Contingent liabilities and commitments: Letters of guarantee 11,661,690 10,021,268 Letters of credit 1,505,817 1,771,153 Undrawn facilities commitments 19,033,371 19,552,029 ---------------------- -------------------- Total contingent liabilities and commitments 32,200,878 31,344,450 ---------------------- -------------------- Other commitments: Capital expenditure and others 1,562,683 1,494,767 ---------------------- -------------------- Total other commitments 1,562,683 1,494,767 ---------------------- -------------------- Total contingent liabilities and commitments 33,763,561 32,839,217 ========= ========
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 19 19. Impairment charges, net Impairment charges include net impairment charge on Islamic financing and investing assets amounting to AED 392.8 million (refer note 6.3) (30 September 2024: AED 553.1 million), net release on other financial assets amounting to AED 78.5 million (30 September 2024: net charge AED 2.6 million) and net release on non-financial assets amounting to AED 22.5 million (30 September 2024: AED 26.0 million). 20. Taxation On 9 December 2022, the United Arab Emirates (UAE) Ministry of Finance (MoF) released Federal Decree-Law No 47 of 2022 on the Taxation of Corporations and Businesses, Corporate Tax Law (“CT Law”) to enact a new CT regime in the UAE. The new CT regime became effective for accounting periods beginning on or after 1 June 2023. The Group is subject to CT Law starting 1 January 2024. The taxable income of the entities that are in scope for UAE CT purposes is subject to tax at 9%. The effective tax rate (ETR) for the period ended 30 September 2025 is 14.1% which includes Top-up tax (30 September 2024: 9.2%). The deviation from the statutory tax rate is primarily driven by the geographical mix, Top- up tax and partly offset by certain exempt income and exempt gains under the CT Law in the UAE. Aligning with the OECD’s Global Minimum Tax effort (Pillar Two), the UAE MoF has announced certain amendments to the CT Law introducing a Domestic Minimum Top-Up Tax of 15% for Multinational Enterprises (MNEs) with effect from financial years starting on or afte r 1st Jan 2025. The Group is within the scope of Pillar Two legislation and as such is subject to the Pillar Two rules. The Group applies the exception to recognizing and disclosing information about deferred tax assets and liabilities related to Pillar Two income taxes, as provided in the amendments to IAS 12 issued in May 2023. The Group estimates as current tax expense related to Pillar Two the amount of AED 284.6 million for the period ended 30 September 2025. The Pillar Two impact is in relation to the entities operating in the UAE. 20.1 Income tax expense Unaudited Unaudited 30 September 30 September 2025 2024 AED’000 AED’000 Current tax 20.2 926,256 579,597 Deferred tax 20.3 2,771 (26,351) ------------------ –––––––– Total 929,027 553,246 ======= ======= 20.2 Provision for taxation Unaudited 30 September Audited 31 Decembe r 2025 AED’000 2024 AED’000 Balance at 1 January 730,669 6,696 Charged during the period 20.1 926,256 871,277 Paid during the period (759,436) (146,073) Foreign exchange effect 136 (1,231) ----------------- ––––––– Total 897,625 730,669 ======= ======
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 20 20. Taxation (continued) 20.3 Deferred tax asset Unaudited 30 September Audited 31 December 2025 AED’000 2024 AED’000 Balance at 1 January 126,997 84,495 Income / (Expense) during the period 20.1 (2,771 ) 31,391 Others 7,207 11,111 --------------- ––––––– Total 131,433 126,997 ====== ====== 21. Basic and diluted earnings per share Basic and diluted earnings per share are calculated by dividing the profit for the period attributable to owners of the Bank, net of directors’ remuneration and profit attributable to Tier 1 Sukuk-holders by the weighted average number of shares outstanding during the period as follows: Three-month period ended 30 September Nine-month period ended 30 September 2025 AED’000 2024 AED’000 2025 AED’000 2024 AED’000 Profit for the period attributable to the owners of the Bank 1,863,006 2,030,034 5,460,706 5,299,775 Profit attributable to tier 1 sukukholders - (86,086) (250,223) (288,101) -------------------- ––––––––– -------------------- ––––––––– 1,863,006 1,943,948 5,210,483 5,011,674 ======== ======== ======== ======== Weighted average number of shares outstanding during the period (‘000) 7,227,111 7,227,111 7,227,111 7,227,111 ======== ======== ======== ======== Basic and diluted earnings per share (AED per share) 0.26 0.27 0.72 0.69 ======== ======== ======== ======== 22. Cash and cash equivalents Unaudited 30 Se ptember Unaudited 30 September 2025 2024 AED’000 AED’000 Cash and balances with central banks 25,577,791 20,772,881 Due from banks and financial institutions 3,474,588 4,175,856 -------------------- -------------------- Total 29,052,379 24,948,737 ========== ==========
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 21 23. Segmental information 23.1 Reportable segments Reportable segments are identified on the basis of internal reports about the components of the Group that are regularly reviewed by the Group’s chief operating decision maker in order to allocate resources to the segment and to assess its performance. The Group’s reportable segments are organised into below major segments as follows: - Consumer banking: Principally handling individual customers’ deposits, providing consumer Murabaha, Salam, Home Finance, Ijarah, Credit Cards and funds transfer facilities, priority banking and wealth management. - Corporate banking: Principally handling financing, other credit facilities, deposits, current accounts, cash management and risk management products for corporate and institutional customers. - Treasury: Principally responsible for managing the Bank’s overall liquidity and market risk and provides treasury services to customers. Treasury also runs its own Sukuk and specialised financial instruments book to manage the above risks. - Real estate development: Property development and other real estate investments by a subsidiary. - Other: Functions other than above core lines of businesses including international business and properties. The accounting policies of the above reportable segments are the same as the Group’s accounting policies.
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 22 23. Segmental information (continued) 23.2 Segment profitability The following table presents summarised condensed consolidated interim statement of profit or loss related to Group’s reportable segments: Consumer banking Corporate banking Treasury Real estate development Other Total Nine-month period ended 30 September Nine-month period ended 30 September Nine-month period ended 30 September Nine-month period ended 30 September Nine-month period ended 30 September Nine-month period ended 30 September 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 2025 2024 (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 Net operating revenue 3,579,099 3,329,427 2,287,951 2,139,451 2,013,442 1,885,543 634,050 417,481 1,161,296 1,313,434 9,675,838 9,085,336 Operating expenses (1,375,166) (1,219,124) (449,033) (493,939) (87,137) (80,669) (253,333) (210,227) (608,961) (550,062) (2,773,630) (2,554,021) ------------------- ––––––––– ------------------- –––––––– -------------------- ––––––– -------------------- ––––––– ----------------- ––––––– -------------------- –––––––– Net operating profit 2,203,933 2,110,303 1,838,918 1,645,512 1,926,305 1,804,874 380,717 207,254 552,335 763,372 6,902,208 6,531,315 ------------------- ––––––––– ------------------- –––––––– -------------------- ––––––– -------------------- ––––––– ----------------- ––––––– Impairment charge, net (291,787) (529,676) -------------------- –––––––– Profit before income tax expense 6,610,421 6,001,639 Income tax expense (929,027) (553,246) -------------------- –––––––– Profit for the period 5,681,394 5,448,393 ======== ========
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 23 23. Segmental information (continued) 23.3 Segment financial position The following table presents assets and liabilities regarding the Group’s reportable segments: Consumer banking Corporate banking Treasury Real Estate Development Other Total 30 September 2025 (Unaudited) 31 December 2024 (Audited) 30 September 2025 (Unaudited) 31 December 2024 (Audited) 30 September 2025 (Unaudited) 31 December 2024 (Audited) 30 September 2025 (Unaudited) 31 December 2024 (Audited) 30 September 2025 (Unaudited) 31 December 2024 (Audited) 30 September 2025 (Unaudited) 31 December 2024 (Audited) AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 AED’000 Segment assets 74,606,911 63,126,961 169,590,568 145,346,952 100,781,171 86,304,915 7,196,891 6,505,192 40,776,988 43,402,798 392,952,529 344,686,818 ========= ========= ========= ========= ======== ======== ======== ======== ======== ======== ========== ========== Segment liabilities 102,470,878 89,523,721 201,113,149 160,868,013 3,970,284 3,288,817 1,734,514 1,238,160 31,819,709 36,915,228 341,108,534 291,833,939 ======== ======== ======== ======== ======= ======= ======= ======= ======= ======== ========= =========
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 24 24. Related party transactions (a) The Group enters into transactions with shareholders , directors, key management personnel, their related concerns in the ordinary course of business at terms agreed between both parties at arm’s length basis. (b) As at 30 September 2025 and 31 December 2024, the major shareholder of the Bank is Investment Corporation of Dubai (“ICD”), a company in which the Government of Dubai is the majority shareholder. (c) Balances and transactions between the Bank and its subsidiaries, which are related parties of the Group, have been fully eliminated upon consolidation and they are not disclosed in this note. (d) The significant balances and transactions with related parties included in the condensed consolidated interim financial information are as follows: Major shareholders Directors and key management personnel Associates and joint ventures Total AED’000 AED’000 AED’000 AED’000 As at 30 September 2025 (Unaudited) Islamic financing and investing assets 1,538,747 587,571 17,765 2,144,083 Investment in Suku k 808,910 - - 808,910 Customers’ deposits 603,109 983,960 12,430 1,599,499 Contingent liabilities and commitments - 362,329 - 362,329 As at 31 December 2024 (Audited) Islamic financing and investing assets 1,651,379 451,159 - 2,102,538 Investment in Sukuk 820,501 - - 820,501 Customers’ deposits 68,649 470,970 324 539,943 Contingent liabilities and commitments - 155,953 - 155,953 For the nine-month period ended 30 September 2025 (Unaudited) Income from Islamic financing transactions 61,361 20,455 1,032 82,848 Income from investment in Sukuk 29,872 - - 29,872 Depositors’ and Sukuk holders’ share of profits 38,364 16,601 - 54,965 For the nine-month period ended 30 September 2024 (Unaudited) Income from Islamic financing transactions 41,882 17,169 - 59,051 Income from investment in Suku k 27,295 - - 27,295 Depositors’ and Sukuk holders’ share of profits 38,455 11,465 - 49,920 (e) Related party balances are at stage 1 as at 30 September 2025 and 31 December 2024. The Group recognizes impairment allowance against related party balances in accordance with the IFRS accounting standards. The impairment allowance is immaterial as of 30 September 2025 and 30 September 2024.
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 25 24. Related party transactions (continued) (f) The compensation paid to / accrued for key management personnel of the Bank during the nine-month period ended 30 September 2025 and 2024 was as follows: Unaudited 30 September 2025 Unaudited 30 September 2024 AED’000 AED’000 Salaries and other benefits 45,059 63,021 End of service benefits 1,140 1,713 ======= ======= 25. Fair value of financial instruments 25.1 Fair value of the Group’s financial assets and financial liabilities that are measured at fair value on a recurring basis The table below summarises the Group’s financial instruments’ fair value according to fair value hierarchy: Level 1 Level 2 Level 3 Total 30 September 2025 (Unaudited) AED’000 AED’000 AED’000 AED’000 Islamic financing and investing assets at fair value through profit or loss - - 285,700 285,700 Investments carried at fair value through other comprehensive income Quoted instruments 337,997 - - 337,997 Unquoted instruments - - 445,018 445,018 Other assets Islamic derivative assets - 1,454,119 - 1,454,119 -------------------- -------------------- ------------------- -------------------- Total financial assets measured at fair value 337,997 1,454,119 730,718 2,522,834 ======== ======== ======= ======== Other liabilities Islamic derivative liabilities - 1,340,011 - 1,340,011 ======== ======== ======= ========
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 26 25. Fair value of financial instruments (continued) 25.1 Fair value of the Group’s financial assets and financial liabilities that are measured at fair value on a recurring basis (continued) Level 1 Level 2 Level 3 Total 31 December 2024 (Audited) AED’000 AED’000 AED’000 AED’000 Investments carried at fair value through other comprehensive income Quoted instruments 430,466 - - 430,466 Unquoted instruments - - 574,985 574,985 Other assets Islamic derivative assets - 1,001,705 - 1,001,705 ––––––––– ––––––––– ––––––––– –––––––– Total financial assets measured at fair value 430,466 1,001,705 574,985 2,007,156 ======== ======== ======== ======= Other liabilities Islamic derivative liabilities - 969,806 - 969,806 ======== ======== ======== ========= There were no transfers between Level 1, 2 and 3 during the period ended 30 September 2025 and year ended 31 December 2024. 25.2 Reconciliation of Level 3 fair value measurement of financial assets measured at fair value through other comprehensive income Unaudited 30 September Audited 31 Decembe r 2025 2024 AED’000 AED’000 Balance at 1 January 574,985 639,633 Loss in other comprehensive income (3,748) (62,329) Others (126,219) (2,319) –––––––– –––––––– Balance at period end 445,018 574,985 ======= =======
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 27 26. Capital adequacy ratio The Group lead regulator, the Central Bank of U.A.E. (CBUAE), sets and monitors capital requirements for the Group as a whole. The Group and individual banking operations within the Bank are directly supervised by their respective local regulators. The Group regulatory capital is analysed into following tiers: Common Equity Tier 1 (CET1), which includes fully paid up capital, statutory reserve, general reserve, retained earnings, exchange translation reserve and investment fair value reserve. Regulatory adjustments under Basel III, which includes deductions of deferred tax assets, investments in banking and financial entities and other threshold deductions; Tier 1 capital, includes CET1, with additional items that consist of Tier 1 capital instruments and certain non-controlling interests in subsidiaries; and Tier 2 capital, which includes collective impairment allowance and qualifying subordinated liabilities, if any. The Bank was recognized as Domestic Systemically Important Bank (D-SIB) during the year ended 31 December 2018 and is accordingly required to keep a D-SIB buffer of 0.5% in addition to the CCB of 2.5%. As per the Central Bank regulation for Basel III, the minimum capital requirement as at 30 September 2025 is 13.5% inclusive of capital conservation buffer of 2.5% and D-SIB buffer of 0.5%. From 01 January 2026, counter cyclical buffer of 0.5% on the private sector credit exposures in the UAE would also be required to be maintained. Unaudited 30 September Audited 31 December 2025 2024 AED’000 AED’000 Capital base Common Equity Tier 1 39,076,846 34,035,967 Additional Tier 1 capital 7,346,000 10,100,750 ---------------------- –––––––––– Tier 1 Capital 46,422,846 44,136,717 Tier 2 Capital 2,186,655 2,925,424 ---------------------- –––––––––– Total capital base 48,609,501 47,062,141 ========= ========= Risk weighted assets Credit risk 266,104,470 234,033,891 Market risk 3,601,753 2,110,429 Operational risk 22,709,777 21,063,244 ---------------------- –––––––––– Total risk weighted assets 292,416,000 257,207,564 ========= ========= Capital Ratios Total capital ratio 16.6% 18.3% Tier 1 capital ratio 15.9% 17.2% Common equity Tier 1 capital ratio 13.4% 13.2%
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 28 27. Dividend At the Annual General Meeting of the shareholders held on 13 March 2025, the shareholders approved a cash dividend of AED 0.45 per outstanding share amounting to AED 3,252.2 million for the year ended 31 December 2024. 28. Seasonality of results No income of seasonal nature was recorded in the condense d consolidated interim statement of profit or loss for the nine-month periods ended 30 September 2025 and 30 September 2024. 29. Subsidiaries (a) The Group’s material interest held directly or indirectly in the subsidiaries is as follows: Name of subsidiary Principal activity Place of incorporation and operation Ownership interest and voting power 30 September 2025 31 December 2024 1. Dubai Islamic Bank Pakistan Limited Banking Pakistan 100.0% 100.0% 2. Noor Bank P.J.S.C. Banking U.A.E 100.0% 100.0% 3. Tamweel P.S.C. Financing U.A.E 92.0% 92.0% 4. DIB Bank Kenya Limited Banking Kenya 100.0% 100.0% 5. Dubai Islamic Financial Services L.L.C. Brokerage services U.A.E. 100.0% 100.0% 6. Deyaar Development P.J.S.C. Real estate development U.A.E 44.9% 44.9% 7. Dar Al Sharia Islamic Finance Consultancy L.L.C. Islamic finance advisory U.A.E. 100.0% 100.0% 8. Al Tanmyah Services L.L.C. Labour services U.A.E. 100.0% 100.0% 9. Al Tatweer Al Hadith Real Estate investment Real estate development Egypt 100.0% 100.0% 10. Al Tameer Modern Real Estate Investment Real estate development Egypt 100.0% 100.0% 11. Al Tanmia Modern Real Estate Investment Real estate development Egypt 100.0% 100.0% 12. Insta print L.L.C. (formerly Dubai Islamic Bank Printing Press L.L.C.) Printing U.A.E. 100.0% 100.0% 13. Al Islami Real Estate Investments Ltd. Investments U.A.E. 100.0% 100.0% 14. Creek Union Limited FZ LLC Investments U.A.E 100.0% 100.0% 15. Madinat Bader Properties Co. L.L.C Real Estate Development U.A.E 100.0% 100.0% (b) The Bank has ceased the operations for entity 5 and plans to liquidate this entity.
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Dubai Islamic Bank P.J.S.C. Notes to the condensed consolidated interim financial information for the nine-month period ended 30 September 2025 29 29. Subsidiaries (continued) (c) The following Special Purpose Vehicles (“SPV”) were formed to manage specific transactions including funds and are expected to be closed upon their completion. Name of SPV Principal activity Place of incorporation and operation Ownership interest and voting power 30 September 2025 31 December 2024 16. Al Islami Trade Company Limited Investments U.A.E. 100.0% 100.0% 17. Deyaar Investments L.L.C. Investments U.A.E. - 100.0% 18. Deyaar Funds L.L.C. Investments U.A.E. - 100.0% 19. Sequoia Investments L.L.C. Investments U.A.E. 100.0% 100.0% 20. DIB FM Ltd Investments Cayman Islands 100.0% 100.0% 21. Star Digital Investments SPV Limited Investments U.A.E 100.0% 100.0% (d) The Bank has liquidated the entities 17 and 18 during the period. 30. Comparative information Certain comparative amounts in condensed consolidated interim statement of cash flows and notes to the condensed consolidated interim financial information have been reclassified to conform to the current presentation. 31. Approval of the condensed consolidated interim financial information The condensed consolidated interim financial information was approved by the Board of Directors and authorized for issue on 28 October 2025.