Dubai – Mubasher: Emirates Investment Bank incurred net losses of AED 6.07 million during the first quarter (Q1) of 2020, against net profits of AED 9.31 million in the year-ago period.

The bank's operating income decreased by 48% to AED 19.8 million in Q1-2020 from AED 38.4 million in the same quarter of 2019, according to the bank's consolidated interim financial results for the period ended 31 March 2020.

The total assets amounted to AED 2.54 billion in Q1-20, down from AED 3.12 billion in the same period of last year.

The earnings per share (EPS) attributable to the equity holders of the parent company stood at AED 8.67 in the first three months of 2020, versus AED 13.29 during the corresponding period of the previous year.

In 2019, the bank's net profits declined to AED 8.851 million from AED 38.710 million in 2018.