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00:00The banking sector is still in the process of announcing the results of its work for the first quarter of this year in the region, this time in the Emirates, and the leader Dubai Al-Islami, who announces the results of his work for the first quarter higher than expected.
00:15We are talking about a net profit growth of 19% to 1.8 billion dirhams.
00:22Here we are talking about profits before the tax, but in terms of net profits after the tax on Dubai Al-Islami Bank, which exceeded 8% and exceeded 1.6 billion dirhams during the first quarter of this year.
00:40On the other hand, there was clear support for growth in terms of employment, which grew by 9% and this time exceeded 3 billion dirhams during the first quarter, and we compared it with figures that were achieved in the first quarter of 2023.
00:56On the other hand, the most prominent reasons that led to this growth that we have seen is that the bank reduced the specialties in the first quarter of this year by nearly 40%.
01:08These specialties were reduced from 496 million dirhams in the first quarter of last year to less than 300 million dirhams for the specialties that were reduced by the bank over the past period.
01:23This, of course, has led to support and a clear growth in the bank's profits over the past period.
01:29On the other hand, there was a growth of 12% for Dubai Al-Islami Bank, which we have seen a growth in profits.
01:38The revenues were also higher than expected by the markets and analysts throughout the first quarter of this year.
01:46In terms of finance, which grew by 9% in the first quarter of last year.
01:50As well as the continuation of interest rates, which are still stable for the UAE.
01:55We have also seen the UAE's central bank with the US federal policies in terms of monetary policy.
02:02The dividends also grew and exceeded 236 billion dirhams for Dubai Al-Islami Bank dividends.
02:10On the other hand, we have seen this positive trend in which business came and the results of the first quarter profits were higher than expected for Dubai Al-Islami Bank.