ID :
56244
Sun, 04/19/2009 - 15:50
Auther :
Shortlink :
https://oananews.org//node/56244
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SIB announces a 7% rise in Net Profits to reach Dh85.0 million
Sharjah Islamic Bank announced its 1st quarter 2009 results with net profit of AED 85.0 million, compared to 79.4 million achieved in the same period last year, with a 7% increase.
Net profit before distribution to depositors reached 159.0 million, a 12% increase compared to 141.5 million for the same period last year.
Total Assets grew to reach Dh15.7 billion, an increase by Dh143.3 million since December 2008. Customer deposits also grew by Dh 122.0 million to reach Dh9.2 billion. Net customer receivables reached Dh10.1 billion compared to Dh10.2 billion on December 2008.
In his comment, Mohamed Abdullah, CEO of Sharjah Islamic Bank, said that the first quarter results for 2009 are considered good in light of the current financial downturn. This reflects the bank's success in executing its strategic objectives outlined by the board of directors and based on the latest modern concepts in terms of leadership, strategic initiatives, quality requirements and social responsibility. He assured that forward thinking has placed Sharjah Islamic Bank high in the Islamic banking sector, and recently enabled it to proudly receive the prestigious Mohammed Bin Rashid Al Maktoum Business Award 2008.
Net profit before distribution to depositors reached 159.0 million, a 12% increase compared to 141.5 million for the same period last year.
Total Assets grew to reach Dh15.7 billion, an increase by Dh143.3 million since December 2008. Customer deposits also grew by Dh 122.0 million to reach Dh9.2 billion. Net customer receivables reached Dh10.1 billion compared to Dh10.2 billion on December 2008.
In his comment, Mohamed Abdullah, CEO of Sharjah Islamic Bank, said that the first quarter results for 2009 are considered good in light of the current financial downturn. This reflects the bank's success in executing its strategic objectives outlined by the board of directors and based on the latest modern concepts in terms of leadership, strategic initiatives, quality requirements and social responsibility. He assured that forward thinking has placed Sharjah Islamic Bank high in the Islamic banking sector, and recently enabled it to proudly receive the prestigious Mohammed Bin Rashid Al Maktoum Business Award 2008.
