Sharjah Islamic Bank posts 33pc rise in net profit

DUBAI — Sharjah Islamic Bank announced its first-half 2007 results yesterday with profit before distribution to depositors increasing by Dh58 million or 45 per cent to reach Dh187.4 million compared to Dh129.5 million for the same period last year. Net profits reached Dh121.1 million, compared to Dh91.3 million achieved in the same period last year, achieving a 33 per cent increase.

By A Staff Reporter

Published: Tue 17 Jul 2007, 9:12 AM

Last updated: Sat 4 Apr 2015, 10:20 PM

The balance sheet grew by 20 per cent since December 2006 with total assets reaching Dh9.1 billion. Net customer receivables reached Dh5.4 billion rising by Dh877 million, or 19 per cent while customer deposits reached Dh5.4 billion, a 23 per cent growth since December 2006.

Mohamed Abdullah, CEO of Sharjah Islamic Bank said: "The first-half results for 2007 show strong financial performance in all aspects of the bank's core businesses as well as in its subsidiaries. This is a reflection of the success of the efforts undertaken to execute our strategic objectives."

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