Abu Dhabi – Mubasher: Sharjah Islamic Bank’s (SIB) net profit increased by 4% year-on-year during the first six months of 2018, recording AED 283 million.

This growth stemmed from a 62% year-on-year decline in impairment provision, registering AED 25 million, according to a bourse statement.

The bank’s operating income went up 10% year-on-year from January to the end of June, SIB’s data showed.

SIB reported a 3% increase in net profit in the first quarter of the year, reaching AED 143.1 million, compared to the prior-year period.