Abu Dhabi – Mubasher: Sharjah Islamic Bank logged net profits of AED 650.91 million during 2022, marking a 26.6% year-on-year (YoY) increase from AED 514.07 million.

The earnings per share went up to AED 0.21 in 2022 from AED 0.17 in 2021, according to the preliminary financial results.

The UAE lender’s total income soared to AED 1.60 billion last year from AED 1.42 billion in 2021.

The total assets of Sharjah Islamic Bank grew to AED 59.12 billion in 2022 from AED 54.95 billion in the previous year.

Customer deposits jumped by AED 1 billion (2.70%) to AED 39.50 billion at the end of 2022, compared with AED 38.50 billion during the same period in 2021.

Dividends

The board of the UAE lender has recommended cash dividends payment of AED 308.20 million, accounting for 10% of the paid-up capital.

In addition, the board proposed bonus shares amounting to AED 154.10 million, equivalent to 5% of the capital, through one bonus for every 20 owned shares.

In the first nine months (9M) of 2022, Sharjah Islamic Bank generated net profits worth AED 568.60 million, compared to AED 458.02 million in 9M-21.

The total assets, meanwhile, inched down to AED 54.59 billion in 9M-22 from AED 54.95 billion as of 31 December 2021.