BOS
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.