Bank of Sharjah assets hit AED27,587 million

SHARJAH / WAM

Bank of Sharjah, reported its financial results for the year ended
December 31, 2015, showing a continued growth of its loan book while maintaining the solid structure of its balance sheet, with high levels of both liquidity and equity.
Total assets reached AED 27,587 million, an increase of 10 percent over the corresponding December 31, 2014 figure of AED 25,054 million reflecting the growth of the main items of the balance sheet.
Loans and advances reached AED 15,037 million, 7percent above the corresponding figure of AED14,080 million as at December 31, 2014.
Net liquidity reached AED7,463mn as at December 31, 2015, an increase of 23 percent compared to 2014 year figure of AED6,085mn. Total equity as at December 31, 2015 stood at AED4,622mn, 5 percent above the balance for the corresponding year of 2014 after payment of 2014 dividends. Net interest income increased by 17 percent compared to the corresponding figure of the year 2014. The 2015 financial year had to bear the burden of a net total non-cash charge of AED297mn.
The profit or loss of the bank was proved the resilience and success of its performance model.