Categorized | Banking, Corporate & Business

Sharjah Islamic Bank announces a 33.5% rise in Net Profits to reach AED 295 million for the 3rd Quarter of 2014

4161Sharjah Islamic Bank announced its nine month of 2014 results with Net Profits reaching AED 295 million, compared to 221 million achieved in the same period last year, a 33.5% growth rate.

Net customer facilities reached AED 13.9 billion rising by AED 1.4 billion, a 11.3% increase since December 2013 and  customer deposits reached AED 14.2 billion rising by AED 2.2 billion or 18.9% growth since Dec 2013. Total Assets reached AED 24.4 billion, growing by 12.4% since Dec 2013.

Liquid assets reached AED 5.7 billion or 23.4% of the total assets compared to AED 5.1 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.

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