Emirati SIB posts 1.2 percent hike of net profit in Jan-Sept

26 Oct 2015

(MENAFN) UAE’s Sharjah Islamic Bank (SIB) saw its gross profit jump 1.2 percent to USD81.2 million for the first three quarters from USD80.3 million for 2014’s same timeframe.

As for the three months to September, the financial institute recorded a gross profit of USD25.5 million as opposed to USD25.2 million registered in last year’s same quarter.

Additionally, the institute’s overall assets surged by 8.3 percent hitting USD7.6 billion as the previous quarter ended compared to USD7 billion at the ending of last year.

Furthermore, Liquid assets hit USD1.6 billion or 21.3 percent of overall assets at as September came to an end, plus gross customer receivables of the bank grew 11.1 percent to USD4.3 billion.

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