Dubai: Positioning for Future Growth
Stable Shareholder Base and Diversified Business Model
Split of Ownership - Anchored by the Government of Dubai
Ownership structure as of 30 September 2022
Key Highlights
Others
39%
Capital Assets
5%
Balanced Asset Composition
% by segment as of 30 September 2022
Deniz Bank, 17%
GM&T, 22%
Islamic Banking
11/10/2022 4:49 PM
10%
'
Investment
Corporation of Dubai
56%
A flagship bank for the Government of Dubai and the UAE
Strong and supportive shareholder base from the Government of Dubai via
Investment Corporation of Dubai
International presence in Asia, Europe and MENAT across 13 countries.
DenizBank acquisition further enhanced geographic profile
Well diversified and balanced asset composition between corporate,
consumer and Islamic banking
Foreign ownership limit raised to 40% from 20% in July 2020 with foreign
ownership at 12.4% at 1 Nov 2022
Equity Analysts Coverage
RBWM, 11%
Recommendation
All figures in AED
Buy
Hold
Sell
13
Target Price
17.1
CI&B, 41%
Price as of 28 October 2022
13.25
EPS as of 30 September 2022
1.38
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