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Bank of Sharjah records AED 172m net profit in 9M

Bank of Sharjah records AED 172m net profit in 9M
Earnings per share stood at 8.2 fils at the end of September
BOS
BOS
1.04% 0.48 0.01

Abu Dhabi – Mubasher: Bank of Sharjah, listed on the Abu Dhabi Securities Exchange (ADX), has reported a 43% year-on-year decline in net profit for the first nine months of 2019.

Net profit amounted to AED 172 million for the nine-month period ended 30 September 2019, versus AED 301 million for the same period of 2018, according to a press release.

Earnings per share stood at 8.2 fils at the end of September, compared to 14.3 fils for the prior-year period.

The bank’s net operating income fell by 21% year-on-year to AED 427 million during the January-September period of 2019 from AED 538 million.

Total comprehensive income dropped by 68% during the first nine months of 2019 to AED 99 million, versus AED 306 million in the year-ago period.

The banks’ loan and advances amounted to AED 18.301 billion at the end of September 2019, up by 13% from AED 16.214 billion at the end of 2018.

Total assets grew by 8% to AED 31.232 billion as at 30 September 2019 from AED 29.011 billion as at 31 December 2018.