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SIB posts Dh257m H1 profit

Sharjah Islamic Bank, or SIB, posted a net profit of Dh257 million for the first six month of 2016, compared to Dh204.6 million for the same period last year.
In a press release, the bank said its total assets stood at Dh29.8 billion at the end of the second quarter of 2016, compared to Dh29.9 billion at the end of 2015.
Liquid assets reached Dh6.4 billion or 21.5 per cent of total assets at the end of the second quarter 2016. Net customer receivable reached AED15.8 million at the end of the 2nd quarter 2016 compared to Dh16.3 billion at the end of 2015, the bank added.
Investment securities surged by 48.9 per cent to reach Dh3.5 billion compared to Dh2.4 billion at the end of 2015.
The SIB's customer deposits reached Dh17.5 billion, up Dh526.3 million or 3.1 per cent when compared to Dh17.0 billion at the end of 2015.  - Wam