Sharjah Islamic Bank profit rises 6.89% for 2019

Sharjah Islamic Bank’s net profit increased 6.89% to 545.53 million dirhams ($148.54 million) in 2019 compared to 510.38 million dirhams in 2018.

The UAE bank’s net operating income reached 1.3 billion dirhams, up by 19.87% from 1.09 billion dirhams in 2018, it said in a statement on Saturday (Jan 25).

The bank’s balance sheet grew by 16.9% to 46.39 billion dirhams in assets compared to 44.75 billion dirhams at the end of December 2018.

Customer financial receivables were up 4.2% to 25.1 billion dirhams and customer deposits reached 27.3 billion dirhams, a growth of 3.3% from 2018, said the bank.

($1 = 3.6725 Emirati dirhams)

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