DIB Bank Kenya returns to profitability with Sh103.4mn profit
NAIROBI, Kenya, Mar 27 – DIB Bank Kenya (DIBBK), a subsidiary of Dubai Islamic Bank PJSC, has reported a net profit of Sh103.4 million for the year ending December 31, 2024, a turnaround from a Sh256 million loss in 2023.
The bank attributed this growth to increasing customer confidence in Shariah-compliant banking and a steady expansion of its balance sheet.
“Our commitment to delivering exceptional value continues to support our customers’ businesses, which in turn drives the bank’s growth,” said Acting CEO and Managing Director Mary Kanuku.
DIB Bank Kenya has expanded its footprint with new branches in South C and Nyali while leveraging digital solutions to enhance customer experience.
while profit before tax rose to Sh103.4 million, a 140 percent year-on-year increase, balance sheet grew by 9 percent to Sh28.8 billion, driven by higher customer deposits.
“As we expand in Kenya, we reaffirm our commitment to advancing Islamic finance and supporting the country’s economic growth,” said Board Member Dr. Steve Mainda.
DIB Bank Kenya projects sustained profitability in 2025, anchored on a strong balance sheet, stable capitalization, and a focus on asset quality and operational efficiency.
