Latest news with #Dh4.3
Al Etihad
05-08-2025
- Business
- Al Etihad
DIB reports Dh3.7 bn in net profit for H1/25
5 Aug 2025 21:55 DUBAI (WAM) Dubai Islamic Bank (DIB) showcased another robust performance in the first half of 2025, with operating revenue of Dh6.4 billion, driving a 16% YoY increase in pre-tax profit to Dh4.3 growth in financing and deposits, coupled with improved asset quality, underpinned another historic milestone as the balance sheet surpassed the $100 billion to the financial results, net profit grew to Dh3.7 bn as core business momentum continues, reflecting an improvement in cost of sheet expanded by 8% YTD to Dh373 bn, surpassing the $100 bn Financing Assets grew 12% YTD to Dh237 bn, reflecting healthy demand across key customer segments. On the wholesale front, both local and cross-border businesses contributed to this growth across sectors such as sovereigns, utilities, and aviation. The consumer business also recorded solid growth across all product portfolio grew 9% YTD to Dh89 bn. This portfolio largely comprises of high-quality and well-rated sovereigns and FIs. Customer Deposits rose 14% YTD to Dh284 bn, underpinned by robust customer acquisition and of His Highness The Ruler's Court of Dubai and Chairman of DIB, Mohammed Ibrahim Al Shaibani, said, 'The financial sector plays a central role in reinforcing this foundation. Within it, DIB has sustained its performance through sound governance and a steadfast commitment to value-based banking. The results delivered in the first half of the year reflect a legacy of progress shaped by five decades of alignment with the nation's development agenda."This year marks a defining milestone in that journey. Since its founding in 1975, DIB has evolved into a leading Islamic financial institution, with more than Dh 65 billion in market capitalisation and Dh 370 billion in assets. In the first half of 2025, the bank surpassed $100 billion in total assets. This is a marker not only of scale, but also of adaptability and nimbleness to respond to the everchanging global landscape. This progress affirms the strength of a long-term strategy grounded in trust, resilience, and clarity of purpose,'' he added. Group Chief Executive Officer of DIB, Dr. Adnan Chilwan, commented, '' Despite the volatilities around we delivered a significant 16% rise in pre-tax profit which exceeded Dh 4.3 billion. Whilst the introduction of corporate tax this year adds a new element, our post-tax profit also came in strong at Dh3.7 billion, a solid increase of 10%.''
Al Etihad
30-07-2025
- Business
- Al Etihad
EMSTEEL reports Dh4.3 billion in revenue for H1
30 July 2025 12:15 ABU DHABI (WAM) EMSTEEL, one of the largest publicly traded steel and building materials manufacturers in the region, today announced its financial results for the first half of reported revenues of Dh4.3 billion for the first half of 2025, marking a nine percent increase compared to the same period last Group delivered strong operational performance during the period, increasing sales volumes of finished steel products by 24 percent year-on-year (YoY) to 1,616 thousand tonnes. This growth was driven by sustained momentum in the UAE's construction sector and the Group's solid market H1 2025, strong demand and optimised capacity utilisation enabled the full conversion of semi-finished products into finished goods to better serve cement and clinker sales volumes rose by 21 percent YoY to 1,613 thousand reached Dh540 million, up six percent YoY, with an EBITDA margin of 12.6 percent, compared to 12.8 percent in H1 pressure from lower prices was mitigated by improved production costs in Q2 2025, enhanced capacity utilisation, and ongoing process optimisation initiatives. Profit after tax for H1 2025 amounted to Dh188 million, compared to Dh174 million for the same period last Emirates Steel division contributed Dh3.9 billion in revenue, representing a seven percent increase compared to H1 2024, and generated Dh449 million in Emirates Cement division recorded Dh428 million in revenue, reflecting 21 percent YoY growth, and generated Dh91 million in this division, the Pipes & Other segment is reported as Assets Held for Sale, reflecting its ongoing divestment process. This segment contributed Dh90 million in revenue during the of June 30, 2025, the Group maintained a robust net cash position of Dh372 million, compared to Dh337 million as of December 31, the Group's revenue for Q2 2025 increased by 18 percent, and EBITDA grew by 27 percent compared to the same period last Chief Executive Officer of EMSTEEL, Eng. Saeed Ghumran Al Remeithi, said, 'Our strong H1 2025 performance underscores the resilience and adaptability of EMSTEEL in an evolving global market. The nine percent growth in revenue and continued EBITDA strength reflect our strategic focus on value-added products, operational efficiency, and domestic market leadership. We are proud of our team's ability to convert industry headwinds into opportunities for growth and innovation.' He added, 'As we advance our decarbonisation journey, the launch of our Green Finance Framework and our strategic partnership with Magsort mark important milestones in building a more sustainable, circular steel and cement ecosystem. With a solid financial foundation, strong ESG credentials, and a clear long-term vision, EMSTEEL remains well-positioned to deliver sustainable value to all stakeholders.'
The National
24-04-2025
- Health
- The National
Dubai Humanitarian delivers 57 tonnes of medical supplies for emergency efforts in Gaza
Live updates: Follow the latest on Israel-Gaza Relief response depot Dubai Humanitarian has delivered about 57 tonnes of medical supplies to Al Arish Airport in Egypt to support emergency efforts in Gaza. The aid, valued at more than Dh4.3 million ($1.1 million), which left Dubai on Wednesday on a B747F aircraft, consisted of supplies provided by the World Health Organisation (WHO). It is estimated it will provide critical assistance to more than 250,000 people, Dubai Media Office said. 'At the heart of Dubai Humanitarian's mission lies a steadfast commitment to serving humanity, wherever and whenever needed," said Giuseppe Saba, chief executive of Dubai Humanitarian. "In the face of immense human suffering, it is our duty to stand in solidarity with those affected. Every shipment we help deliver is a message of hope and humanity, reminding those in crisis that they are not forgotten.' Dubai Humanitarian has now flown four aid deliveries to Al Arish this year, with nearly 256 tonnes of medical supplies. Dr Hanan Balkhy, WHO regional director for the Eastern Mediterranean, said of the latest delivery: "This flight carries trauma equipment and surgical supplies to equip surgeons and health facilities with urgently needed materials to save lives and alleviate suffering."
