Dubai Islamic Bank (DIB) has opened a new branch in Dubai, bringing the bank’s nationwide network to a total of 61 branches, including three express banking locations.
The bank said that the expansion is in line with its strategy to open 10 new branches this year, targeting a total UAE-wide network of 64 branches by the end of 2009. At the same time, DIB expects that its customer base will increase by 15% in 2009, reaching 900,000 by the end of this year. The bank also projects that its asset base will increase 20% during the same period.
Adnan Chilwan, chief of retail and business banking at Dubai Islamic Bank, said: “Despite challenging economic conditions globally, DIB remains focused on expanding its branch network, growing its customer base, increasing its market share and launching new products and services.
“Dubai is once again on the path to increased prosperity and the opportunities to grow our retail banking operations are significant. To that end, we will continue to strengthen our position in terms of both assets and liabilities, which represent the core of the bank’s retail banking business.”
