Abu Dhabi – Mubasher: Sharjah Islamic Bank (NBS) reported a 7% year-on-year increase in its profits for the full year 2018.

Net profits amounted to AED 510.3 million ($138.95 million) in 2018, compared to AED 477.6 million ($130.05 million) in 2017, according to the bank’s filing to the Abu Dhabi Securities Exchange (ADX).

Earnings per share (EPS) inched up to AED 0.17 over the year, from AED 0.16 the year before.

The bank’s total income rose 15% to AED 1.7 billion by the end of 2018, versus AED 1.4 billion in 2017, while net operating income jumped 16.4% year-on-year to AED 1.08 billion for the year ended 31 December 2018, the statement added.

For the first nine months of 2018, Sharjah Islamic Bank's profits grew 10.5% to AED 97.7 million, from AED 360 million in the same period of 2017.

By 11:13 am UAE time, Sharjah Islamic Bank's​ stock plunged 0.81% at AED 1.24.