Dubai – Mubasher: Emirates Islamic Bank has achieved net profits of AED 823.085 million in 2021, against net losses of AED 482.225 million in 2020, according to the bank's consolidated financials for the year ended 31 December 2021.

The bank recorded AED 1.711 billion in net income from financing and investment products in 2021, up from AED 1.693 billion in 2020.

The bank's assets declined to AED 64.9 billion in 2021 from AED 70.57 billion in 2020.

The earnings per share (EPS) settled at AED 0.152 last year, versus losses per share of AED 0.089 in 2020.

The Chairman of Emirates Islamic and Vice Chairman and Managing Director of Emirates NBD, Hesham Abdulla Al Qassim, said: "Emirates Islamic maintained healthy liquidity and strong capital ratios, enabling the Bank to grow Customer Financing by 4% in line with improved economic activity."

Meanwhile, the CEO of Emirates Islamic, Salah Mohammed Amin, commented: "With an increase in business activity in 2021, we accelerated our sales momentum across our Retail, Business, and Wholesale segments."

It is noteworthy to mention that during the first nine months (9M) of 2021, the bank recorded net profits of AED 804.238 million, against net losses of AED 311.238 million in the year-ago period.