Emirates Investment posts AED 56.5m net profit in 12M

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.

Mubasher Contribution Time: 15-Feb-2018 11:15 (GMT)
Mubasher Last Update Time: 15-Feb-2018 11:19 (GMT)

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