Dubai - Mubasher: Emirates Islamic Bank has recorded a 25% year-on-year increase in net profit during the first six months of 2018, recording AED 485 million.

Meanwhile, the bank’s total income grew 3% to AED 1.2 billion in H1-18, compared to the first half of 2017, according to a bank statement.

“We are pleased to announce impressive results for Emirates Islamic in the first half of 2018, as Islamic Banking continues to grow in popularity in the UAE,” chairman of Emirates Islamic Hesham Abdulla Al Qassim commented.

Customer deposits recorded AED 42.7 billion during the period between January to June, up 2% from a year-ago period, while current and savings accounts balances went up 5% year-on-year in the same period, the Dubai-listed bank’s data showed.

“On the balance sheet side, both financing and customer deposits are higher compared to end 2017, as we continue to increase our presence in the Islamic banking sector,” CEO of Emirates Islamic Salah Mohammed Amin said.