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Dubai Islamic Bank Kept at Buy as United Securities Notes Q2 Results

MT Newswires·07/23/2026 06:43:56
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06:43 AM EDT, 07/23/2026 (MT Newswires) -- United Securities maintained its rating and price target on Dubai Islamic Bank (DFM:DIB) as it took note of the lender's second-quarter financial results. "DIB delivered a mixed set of results, with weaker-than-expected operating income offset by stronger earnings due to lower provisioning. Management reaffirmed its growth guidance, reinforcing confidence in the bank's medium-term outlook. We maintain our BUY recommendation and target price of AED 8.50/share," analysts said Wednesday. For the second quarter, the bank logged a 2.5% year-over-year increase in operating income to 3.13 billion Emirati dirhams, missing United Securities' estimates by 11%. Meanwhile, the lender's net income was "broadly unchanged" at 3.7 billion dirhams, above the research firm's estimate by 16%.