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Bank of Sharjah records AED 19m net profits in H1-20

Bank of Sharjah records AED 19m net profits in H1-20
The lender's total assets increased to AED 34.45bn
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Abu Dhabi – Mubasher: The net profits attributable to the equity holders of Bank of Sharjah retreated to AED 18.66 million during the first half (H1) of 2020 from AED 152.16 million in the same half in 2019.

The bank's net interest income declined to AED 197.7 million in the first six months of 2020 from AED 223.19 million in the corresponding months of 2019, according to the bank's consolidated interim financials for the six-month period ended 30 June 2020.

The lender's total assets increased to AED 34.45 billion as at June 2020 from AED 31.75 billion as at 31 December 2019.

The basic earnings per share (EPS) settled at AED 0.009 in H1-20, versus AED 0.072 in the year-ago period.

It is noteworthy to mention that in 2019, the bank's net profits hiked by 74% year-on-year (YoY) to AED 226 million when compared to AED 130 million in 2018.