Abu Dhabi – Mubasher: The net losses after tax of Bank of Sharjah hit AED 122.42 million in the first nine months (9M) of 2023, an annual drop from AED 281.65 million.

Basic and diluted loss per share retreated to AED 0.04 in 9M-23 from AED 0.12 a year earlier, according to the interim consolidated income statements.

Operating income reached AED 323.93 million in January-September 2023, down year-on-year (YoY) from AED 459.73 million.

Total assets jumped to AED 38.44 billion in 9M-23 from AED 37.40 billion as of 31 December 2022, while the customer deposits grew to AED 25.54 billion from AED 25.28 billion.

Financials for Q3-23

In the third quarter (Q3) of 2023, the ADX-listed bank turned profitable at AED 21.45 million, against net losses valued at AED 86.16 million in Q3-22.

The operating income plummeted YoY to AED 99.92 million in Q3-23 from AED 128.75 million.

Meanwhile, the basic and diluted earnings per share (EPS) amounted to AED 0.007 in July-September  2023, versus a loss per share valued at AED 0.039 a year earlier.

During the six-month period that ended on 30 June 2023, the Bank of Sharjah suffered lower net losses at AED 143.87 million, compared to AED 195.49 million in H1-22.