IslamicFinance.de

Dubai Islamic Bank PJSC (DIB) has raised loan growth forecasts for 2014 as it increases its corporate and real estate businesses amid the fastest economic expansion in the lender’s home market for at least seven years. The bank expects lending to grow 15 percent to 20 percent in 2014, more than the 10 percent to 15 percent it had previously forecast, according to Chief Executive Officer Adnan Chilwan. The company will continue to expand to take advantage of the emirate’s buoyant property market, while keeping its proportion of total lending at about 25 percent. Besides, the lender is exploring the option of setting up a new bank in Kenya by the end of the year to add to its presence in Pakistan, Jordan, and Bosnia, Chilwan said. It also expects to increase its stake in Indonesia’s Bank Panin Syariah.