Abu Dhabi - Mubasher: Sharjah Islamic Bank (SIB) has announced its financial results for the first nine months of 2018.

Net profits grew by 10.5% year-on-year to AED 397.7 million from AED 360 million in the same period last year.

Total assets reached AED 44 billion by the end of September 2018 compared to AED 38.3 billion reported at the end of December 2017, representing an increase of 14.9%.

Customer financing reached AED 22.9 billion at the end of September 2018 compared to AED 21.7 billion at the end of last year, showing an increase of 5.7%.

Investment in securities, which mainly represents an investment in sovereign and investment grade rated tradable Sukuk, increased by 27.1% to reach AED 6.4 billion compared to AED 5 billion at the end of 2017.