Dubai – Mubasher: Emirates Investment Bank (EIBank) on Sunday announced the appointment of Imad Bou Khouzam as the bank’s interim CEO.

Bou Khouzam replaces Khaled Sifri, who resigned in May, according to the bank’s statement.

Since 2017, Bou Khouzam served as EIBank’s chief financial officer (CFO).

On 9 May,  the Dubai-based lender said that the bank's CEO Khaled Sifri resigned from his position.

During the first quarter of 2019, EIBank reported a 36% year-on-year decline in profits, logging AED 9.3 million, against AED 14.5 million.