AED387 million in net profit by Emirates Islamic Bank for 2017

DUBAI — The Emirates Islamic Bank has announced its 2017 financial results, declaring a net profit of AED387 million.

Attributing the positive results to an improved overall performance and increased customer deposits, Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, said the bank has “consistently invested in innovation and infrastructure, the results of which are now evident in our positive numbers. Shari’a-compliant banking continues to set new milestones in the overall banking sector, and Emirates Islamic aims to contribute substantially to the sector’s growth and the government’s goal of making Dubai the global capital of Islamic economy.”

“While our financial results have been strong, we are also cognizant of our responsibility to the community. Emirates Islamic has actively supported the noble Year of Giving initiative by The UAE President His Highness Sheikh Khalifa bin Zayed Al Nahyan. Through the Emirates Islamic Charity Fund, we have provided support to several charitable, humanitarian and community activities, in keeping with the spirit of the Year of Giving.”

Jamal Bin Ghalaita, Chief Executive Officer of Emirates Islamic added: “At Emirates Islamic, we continue to move forward with our strategy of profitable growth combined with effective cost management. Over the years, we have stood out from the competition through our focus on strategic pricing, product innovation and customer service. This has allowed us to consistently grow our customer base, with customer deposits up by 1.6% and Current and Savings account balances up by 6% from end-2016.”

“In today’s smart economy, digital technology plays a crucial role in providing our customers with personalised banking solutions and a faster turnaround time. At Emirates Islamic, we will continue to expand our services, with investments in the latest technology and infrastructure, giving us the edge to become the leading Islamic bank in the region.”

Source: Emirates News Agency