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United Arab Emirates : SHARJAH ISLAMIC BANK reported a 50% growth in Q2 Net Profits to Dhs202.1m

July 24, 2014



Sharjah Islamic Bank (SIB) has unleashed its financial report card for the first half of this year recently.

According to this financial statement, the lender has recorded a huge 50% rise in Net Profits to reach the levels of Dhs202.1m.

The bank had earned Dhs134.7 million in Net Profits during the first half of 2013.

SIB has announced that the net customer facilities have touched the figure of Dhs14.5bn in H1, 2014, up 15.7% (Dhs2.0bn) from the figure in the same period in last year.

The customer deposits rose by 14.8% (Dhs1.8bn) from the amount as of last December to Dhs13.7bn.

As against the figure of December 2013, Total Assets reported a 7.7% growth to touch the levels of Dhs23.4bn.

The SIB shareholder s equity stood at 4.5 billion, representing 19.2% of the total balance sheet of the bank. This is a clear reflection to the bank s robust capital base and healthy financial status, facilitating the SIB to accomplish its strategic goals.


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Source: TendersInfo (India)


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