investment banking boutique (DFM: EIBank), today announces its financial
results for the fourth quarter and fiscal year ended
Net profit for FY 2013 increased by 38% to AED 36.2 million (FY
2012: AED 26.3 million)
• Customer deposits grew 109% to AED
1.67 billion (FY 2012: AED 0.80 billion)
• Total Assets under
Management increased by 71% to AED 4.26 billion (FY 2012: 2.49 billion)
• Net profit for Q4 2013 increased by 69% to AED 5.6
million (Q4 2012: AED 3.3 million)
"In 2013 we
continued implementing our strategy focusing on both private and
investment banking services, growing our team and building a best-of-class
offering. This reflected positively on our results with all our
performance figures significantly improving year on year.
"Our investment banking team has seen increased M&A activity and has been
working on various deals across the
significant deal in the region. We envisage this trend to continue as we
remain optimistic for the regional M&A and private equity markets in 2014.
growth in our private banking business has been tremendous as we continue
to see a great deal of interest from high net worth individuals from the
region and internationally. Our focus on delivering tailor-made investment
solutions and superior client servicing has allowed us to grow the assets
under our management to new unprecedented levels.
"The Board of
in 2013 and continues to be optimistic about the development of the
business in 2014. With the support of our shareholders, we look forward
to reporting continuous growth in the months and years ahead.";
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