Dubai – Mubasher: Emirates Investment Bank (EIBank) on Thursday reported a 66.8 increase in net profit during the full year 2017, registering AED 56.52 million, compared to AED 33.89 million a year earlier.
The Dubai Financial Market (DFM) listed bank's operating income jumped 20.4% to AED 172.15 million in the previous four quarters versus AED 142.98 million in the year before, according to a bank statement.
EIBank’s CEO Khaled Sifri said that “2017 was a positive year for Emirates Investment Bank despite the ongoing uncertainty in regional markets.”
The UAE-based investment bank's total managed assets plunged 9.5% year-on-year to AED 10.53 billion in 2017, the bank’s data showed.
“As a local bank, we remain committed to contributing to the development of the UAE private banking sector,” Sifri concluded.