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Emirates Islamic profits exceed 100% in Q1

Emirates Islamic profits exceed 100% in Q1
Photo Credit: Arabianeye-Reuters
Emirates Islamic
EIB
14.91% 7.40 0.96

Dubai – Mubasher: Emirates Islamic Bank (EIB) reported profits exceeding AED 194 million during the first quarter of the year, recording massive growth of 106%, according to a filing to the Dubai Financial Market (DFM).

Net income grew 58% to AED 666 million compared to AED 420 million in Q1-14.

EIB previously reported a 148% surge in its annual profits, reaching AED 364.2 million in 2014 compared to AED 139.488 million in 2013. It shareholders decided on 4 March not to distribute dividends for 2014.