Dubai Bank DIB Happy With Capital Base – CEO

Dubai Islamic Bank is happy with its current stock of capital but could look again at raising its reserves in the second or third quarter of this year, its chief executive said on Wednesday.

Adnan Chilwan told a webcast that the bank had no plans to raise its current 17 per cent capital adequacy ratio, a key indicator of the bank’s health.

However, it could look at the level again in the second or third quarter and, if it thought that was required, might raise additional Tier 1 (core) capital or Tier 2 (supplementary) capital, he said.

The bank sold a $1 billion capital-boosting sukuk issue in January.