EI reports Dh256 million net profit

Financing and investing receivables grew by 17 per cent

23/10/2014 05:31 AST

Emirates Islamic (EI), the Islamic Bank belonging to Emirates NBD group reported a net profit of Dh256 million net profit for the first 9 moths of 2014.

The bank continued to deliver healthy performance with total income, net of customers' share of profit up by 27 per cent to Dh1.41 billion from the compared to the first nine months of 2013.

Financing and investing receivables grew by 17 per cent to Dh25.3 billion from the end of 2013. EI's focus in 2014 has been on growing the SME portfolio supported by an increased product offering.

Islamic banking revenue improved 24 per cent year on year. Islamic Banking business continued to develop through a strengthened core franchise coupled with an expansion of retail, SME, and corporate offerings, Emirates NBD said in a statement.


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