Dubai – Mubasher: Emirates Islamic Bank registered a 73% year-on-year (YoY) leap in net profit to AED 1.21 billion in the first half (H1) of 2023, compared to AED 701.09 million.
The total operating income was valued at AED 2.33 billion in H1-23, marking a 71% year-on-year (YoY) leap from AED 1.37 billion, according to the financial results.
Earnings per share (EPS) soared to AED 0.22 during the first six months (6M) of 2023, versus AED 0.12 in H1-22.
The customers’ deposits reached AED 58.42 billion as of 30 June 2023, while the total assets amounted to AED 79.31 billion.
Income Statements for Q2-23
The UAE lender witnessed an annual surge in net profit to AED 611.18 million during the second quarter (Q2) of 2023, compared to AED 359.19 million.
Total operating income climbed to AED 1.20 billion in Q2-23 from AED 718.02 million in the year-ago period. Meanwhile, the EPS widened to AED 0.11 from AED 0.06.
Salah Mohammed Amin, CEO of Emirates Islamic Bank, commented: “Emirates Islamic’s balance sheet grew by 6% to AED 79 billion in H1-23, maintaining a trend of successful asset growth.
Amin noted: “In our efforts to expand the footprint of Islamic banking in the UAE, and to promote a savings culture, we recently enhanced our flagship Kunooz Savings Account, offering customers an opportunity to win AED 1 million every quarter or a Mercedes EQS car every month or AED 10,000 every week.”
During the January-March 2023 period, the DFM-listed bank recorded 76% YoY higher net profits at AED 600.86 million, compared to AED 341.89 million.
