Dubai – Mubasher: Emirates Investment Bank's (EIBank) net profits rose sixfold to AED 12.76 million in the third quarter of 2016 from AED 1.68 million in the same period of the previous year.

The bank posted a 13.5% decrease in net profits over the nine-month period of 2016 to reach AED 25.51 million compared to AED 29.51 million in the year-ago period.

Operating income went up 17.4% to AED 108.72 million in the first nine months of 2016 from AED 92.57 million in the prior-year period.

Total assets under the Bank’s management increased 36.7% over FY 2016 to AED 13.14 billion, where in December 2015 they reached AED 9.61 billion.

“Despite the continuing difficult economic climate, it has been a strong quarter for Emirates Investment Bank, as clearly reflected in our solid set of results,” Khaled Sifri, CEO of EIBank commented.