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Bank of Sharjah turns to losses in 9M

Bank of Sharjah turns to losses in 9M
The bank's net interest income amounted to AED 413.231 million
BOS
BOS
-1.72% 0.57 -0.01

Abu Dhabi – Mubasher: Bank of Sharjah has logged net losses attributable to the equity holders of AED 1.299 billion in the first nine months of 2021, against net profits of AED 129.103 million in the same period of 2020, according to the bank's consolidated interim financials for the nine-month period ended 30 September 2021.

The bank's net interest income amounted to AED 413.231 million in the January-September period of 2021, up from AED 290.052 million in the year-ago period.

The bank's net operating income increased to AED 577.568 million in the first nine months of 2021 from AED 366.864 million in the corresponding period of 2020.

The bank's total assets reached AED 38.499 billion as of 30 September 2021, up from AED 36.143 billion as of 31 December 2020.

The basic losses per share settled at AED 0.59 in the January-September period of 2021, versus basic earnings per share (EPS) of AED 0.061 in the same period of 2020.

During the third quarter (Q3) of 2021, the bank incurred net losses attributable to the equity holders of AED 466.635 million, against net profits of AED 18.658 million in the same period of 2020.