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Sharjah Islamic Bank announces 33.5% rise in net profits in 3Q

Sharjah Islamic Bank announced its nine month of 2014 results with Net Profits reaching Dhs295 million, compared to 221 million achieved in the same period last year, a 33.5% growth rate.

Net customer facilities reached Dhs13.9 billion rising by Dhs1.4 billion, a 11.3% increase since December 2013 and customer deposits reached Dhs14.2 billion rising by Dhs2.2 billion or 18.9% growth since Dec 2013. Total Assets reached Dhs24.4 billion, growing by 12.4% since Dec 2013.

Liquid assets reached Dhs5.7 billion or 23.4% of the total assets compared to Dhs5.1 billion or 23.6% at the end of 2013

SIB shareholder’s equity of 4.6 billion represents 18.6 per cent of the total balance sheet footing; maintaining a strong capital adequacy ratio of 25.3% by the end of September’14 reflecting the bank’s strong capital base and strong financial position that enables the Bank to achieve its strategic objectives.