Press Release

JCR-VIS Assigns Positive Outlook to Dubai Islamic Bank Pakistan Limited

Karachi, July 03, 2012: JCR-VIS Credit Rating Company Limited has maintained the entity ratings of Dubai Islamic Bank Pakistan Limited (DIBPL) at ‘A/A-1’ (Single A/A-One). Outlook on the ratings has been revised from ‘Stable’ to ‘Positive’.

DIBPL is a wholly owned subsidiary of Dubai Islamic Bank PJSC, United Arab Emirates. Ratings take into account the planned equity injection in the bank, to fund the shortfall in meeting minimum capital requirement set by State Bank of Pakistan (SBP). Moreover, Capital Adequacy Ratio of the bank stands comfortable at 20.3%.

Growth was witnessed in the deposit base of the bank, despite shedding of some big ticket deposits; consequently, concentration was also lower. Moreover cost of deposit was maintained at preceding year’s level while spreads reflected improvement. Growth in deposits was mainly channeled into GoP Ijarah Sukuks, while financing portfolio of the bank largely remained stagnated. Going forward the bank plans to grow its corporate loan book.

Profitability of the bank has witnessed improvement on a time-line basis, though there is still limited room to absorb impact of credit related losses.

For further information on this rating announcement, please contact the undersigned, (Ext: 501) or Ms. Sobia Maqbool, CFA (Ext: 506) at 92-21-35311861 or fax to 92-21-35311873.

Javed Callea

Information herein was obtained from sources believed to be accurate and reliable; however, JCR-VIS Credit Rating Company Limited (JCR-VIS) does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. JCR-VIS, the analysts involved in the rating process and members of its rating committee do not have any conflict of interest relating to the rating(s)/ranking(s) mentioned in this report. JCR-VIS is not an NRSRO and its credit ratings are not NRSRO credit ratings. JCR-VIS is paid a fee for most rating assignments. This rating/ranking is an opinion and is not a recommendation to buy or sell any securities. Copyright 2012 JCR-VIS Credit Rating Company Limited. All rights reserved. Contents may be used by news media with credit to JCR-VIS.

JCR-VIS Credit Rating Company Limited