Emirates Investment Bank Q2 net profit surges 33%

DUBAI, 9th August, 2018 (WAM) -- Emirates Investment Bank (EIBank) today announced its financial results for the second quarter and first half of 2018.

According to figures, Q2 2018 net profit up 33.3 percent on same period last year to AED 11.81 million (Q2 2017: AED 8.86 million) H1 2018 net profit up 5.6 percent to AED 26.85 million (H1 2017: AED 25.43 million) H1 2018 operating income decreased 13.4 percent to AED 77.88 million (H1 2017: AED 89.89 million) while total assets under EIBank’s management increased 4.8 percent to AED 11.04 billion (FY 2017: AED 10.53 billion) Khaled Sifri, CEO of Emirates Investment Bank, said,"Over the first six months of 2018, Emirates Investment Bank has delivered a period of positive performance across the various functions. We have continued to add further depth to our offerings, providing our clients with bespoke solutions that accommodate to their individual needs. We have also concluded two important transactions in two critical sectors in the GCC - healthcare and F&B. Despite the ongoing challenging market conditions, our private banking team has managed to maintain momentum during the period, sustaining a healthy level of growth in our assets under management. As we expect these challenging times to continue through the second half of 2018, we will remain focused on further deepening our offerings and optimising value for our clients."

 

WAM/Tariq alfaham