30/04/2018 07:23 AST

Sharjah Islamic Bank (SIB) on Sunday reported a net profit of Dh143.1 million for the first quarter 2018, up 3 per cent compared to Dh139.1 million in the same period last year.

Total assets reached Dh42.4 billion at the end of the first quarter 2018, up 11 per cent compared to Dh38.3 billion at the year-end 2017.

On the asset side of the balance sheet, customer financing reached Dh22 billion at the end of the first quarter 2018 compared to Dh21.7 billion at the end of 2017, marking an increase of 1.1 per cent. Also investment in securities, which mainly represent investment in sovereign and investment grade rated tradable sukuk, increased significantly by 19 per cent to reach Dh6 billion compared to Dh5 billion at the end of 2017.

SIB continues its strategy to maintain liquid assets ratio above 22 per cent of total assets and has reached Dh10 billion or 23.6 per cent at the end 2016. On the liability side, despite the tight liquidity during the year, SIB successfully attracted more customer deposits during the year to reach Dh25.5 billion, up growing by Dh3.2 billion or 14.1 per cent compared to Dh22.3 billion at the end of 2017.

As part of the SIB’s ongoing strategy to continue to diversify the funding sources, the bank has successfully issued a new five years sukuk of $500 million (Dh1.8 billion) during April 2018, as part of $3 billion medium terms sukuk approved programme. SIB currently has three outstanding sukuk totalling $1.5 billion.

Non-performing receivables/NPL’s coverage ratio has improved to reach 121.7 per cent of the NPL’s in 2018 as compared to 99.8 per cent in 2017. Return on average shareholders’ equity reached 10.77 per cent by the end of the first quarter 2018 compared to 9.21 per cent in 2017, while return on average assets stood at 1.42 per cent by the end of first quarter 2018 compared to 1.33 per cent in 2017.


Gulf News

Sharjah Islamic Bank’s net profit up 4% in first half 2018

16/07/2018

Sharjah Islamic Bank (SIB) on Sunday reported Dh283 million net profit for the first half 2018 compared to Dh272.9 million in the same period last year. Net operating income reached Dh524.2 million f

Gulf News

Sharjah Islamic Bank lists $500m sukuk on Nasdaq Dubai

10/05/2018

Nasdaq Dubai today welcomed the listing of $500 million sukuk by the Sharjah Islamic Bank, the third listing by the Emirati lender on the region’s international exchange.

The new sukuk is

Trade Arabia

Sharjah Islamic Bank launches $500m sukuk

12/04/2018

United Arab Emirates’ Sharjah Islamic Bank has launched $500 million (Dh1.8 billion) sukuk with a spread set at 150 basis points over mid-swaps, a document from one of the banks leading the deal show

Gulf News

Ticker Price Volume
DANAH 46.60 48,475
SARCO 42.30 227,758
SIB Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
FAB 13.80 0.10 (0.72%)
RJHI 84.20 0.20 (0.23%)
NCB 41.50 0.30 (0.72%)
SAMBA 30.25 -0.55 (-1.79%)
NBK 834.00 2.00 (0.24%)
Bank Nizwa participates in Malaysia industry event

20/08/2019

Bank Nizwa, represented by two of its Board Members, Sami Al Dhugishi and Ishaq Al Maouli along with Chief Executive Officer, Khalid Al Kayed, participated in the 2nd Islamic Financial Services Board

Times of Oman

Emirates NBD stands chance to renegotiate Denizbank acquisition

14/08/2018

The sharp decline of the Turkish lira in recent weeks has triggered speculation in banking circles that Emirates NBD stands a chance to renegotiate its deal to acquire Denizbank as the valuation has

Gulf News

Eshraq reports best half-year since 2014

14/08/2018

Abu Dhabi-listed Eshraq Properties reported a first-half net profit of Dh14.8 million, compared to a loss of Dh0.32 million in the first half of 2017. The property firm said in a press statement that

Gulf News

Damac and RHG to launch Radisson Hotel

14/08/2018

Damac Properties has signed a landmark agreement with Radisson Hotel Group (RHG) to develop and launch the ‘Radisson Hotel, Dubai Damac Hills’, its first, newly launched Radisson-branded property wor

The Gulf Today

Adnoc Distribution net profit up 18pc in H1

14/08/2018

Abu Dhabi National Oil Company for Distribution (Adnoc Distribution) has reported that net profit for the six months ended June 30, 2018, increased by 18 per cent to Dh1.124 billion ($306 million) co

Trade Arabia