Net profit before distribution to depositors increased by Dhs60.2m growing by 74% to reach Dhs141.5m compared to Dhs81.3m for the same period last year.
The balance sheet grew by 26% since December 2007 with total Assets reaching Dhs13.8 bn.
Net customer receivables reached Dhs7.5bn rising by Dhs1.0bn (15% growth) while customer deposits reached Dhs8.6bn rising by Dhs1.6 bn (24% growth) since Dec 2007.
Mohamed Abdullah, CEO of Sharjah Islamic Bank commented, "The 1st quarter results for 2008 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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Sharjah Islamic Bank announces a 55% rise in net profits to reach Dhs79.4m for the 1st quarter of 2008
- United Arab Emirates: Monday, April 21 - 2008 at 10:45
- PRESS RELEASE
Sharjah Islamic Bank announced its 1st quarter 2008 results yesterday with net profits reaching Dhs79.4m, compared to 51.1 million in the same period last year, achieving a 55% growth rate.
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Jorhie AlbanPromax Middle East
04 2829666
050 4626611
Posted by Eman HassanMonday, April 21 - 2008 at 10:45 UAE local time (GMT+4)
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