Emirates Investment Bank Q2 profits up 12.4 percent

DUBAI — The Emirates Investment Bank, EIBank, has posted a net profit of AED8.86 million for Q2 2017, against AED7.88 million for Q2 2016, marking a growth of 12.4 percent.

Net profit for stood at AED25.43 million, up 99.3 percent on 2016 when it recorded AED12.76 million, with the total assets under the Bank’s management decreasing 9.7 percent to AED10.50 billion against AED11.63 billion by end of December 2016.

Khaled Sifri, CEO of EIBank, commenting on the bank’s growth, said, “Over the past few years, Emirates Investment Bank has been able to grow rapidly by maintaining a clear focus on delivering a flexible and personal private banking service to our clients. Credit needs to be given to our dedicated staff, but also to the environment we operate in.”

“The UAE is emerging as an important hub for wealth management not only within the region but also globally and we, at Emirates Investment Bank, are beneficiaries of this development. It has allowed us to provide our bespoke private banking services to clients from our region, as well as from around the world,” he added.

Source: Emirates News Agency