Sharjah Islamic Bank posts 33.5% jump in Q3 profits

Sharjah Islamic Bank on Wednesday said its nine-month net profits during January-September 2014 recorded an impressive growth of 33.5 per cent by posting Dh295 million profit compared to Dh221 million in the same period last year.

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Published: Thu 23 Oct 2014, 11:25 PM

Last updated: Tue 7 Apr 2015, 10:43 PM

Net customer facilities reached Dh13.9 billion rising by Dh1.4 billion, a 11.3 per cent increase since December 2013 and customer deposits reached Dh14.2 billion rising by Dh2.2 billion or 18.9 per cent growth since December 2013. Total assets reached Dh24.4 billion, growing by 12.4 per cent since December 2013.

Liquid assets reached Dh5.7 billion or 23.4 per cent of the total assets compared to Dh5.1 billion or 23.6 per cent at the end of 2013.

SIB shareholder’s equity of Dh4.6 billion represents 18.6 per cent of the total balance sheet footing; maintaining a strong capital adequacy ratio of 25.3 per cent by the end of September 2014 reflecting the bank’s strong capital base and strong financial position that enables the Bank to achieve its strategic objectives.

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