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Emirates Investment Bank turns to losses in Q1-22

Emirates Investment Bank turns to losses in Q1-22
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Dubai – Mubasher: Emirates Investment Bank has logged net losses attributable to the equity holders of AED 43.63 million in the first quarter (Q1) of 2022, versus net profits of AED 7 million in the same quarter of 2021, according to the bank's unaudited consolidated financials.

The bank's net income amounted to AED 11.04 million in Q1-22, down from AED 11.72 million in the year-ago period.

The basic and diluted losses per share (EPS) stood at AED 62.33 in the first three months (3M) of 2022, against earnings per share (EPS) of AED 10.01 in the corresponding period of 2021.

It is noteworthy to mention that in 2021, the bank achieved net profits attributable to the equity holders of AED 30.61 million, against net losses of AED 29.31 million in the earlier year.