Sharjah Islamic Bank’s net profits up 35 per cent year to date

Total assets up 12.4 per cent in nine months period

23/10/2014 05:33 AST

Sharjah Islamic Bank (SIB) announced Dh295 million net profits, up 33.5 per cent for the first nine months of 2014 compared to Dh221 million achieved in the same period last year.

Net customer facilities reached Dh13.9 billion rising by a 11.3 per cent since December 2013 and customer deposits reached Dh14.2 billion rising 18.9 per cent from year end 2013.

SIB’s total assets grew 12.4 per cent to reach Dh24.4 billion at the close of the third quarter of this year from the year end 2013.

Liquid assets were at Dh5.7 billion or 23.4 per cent of the total assets as at September 30, 2014 compared to Dh5.1 billion or 23.6 per cent at the year end 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 per cent by the end of September 2014 reflecting the bank’s strong capital base and strong financial position.


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