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SHARJAH / WAM
The Sharjah Islamic Bank (SIB), posted a net profit of AED360 million for the nine months of 2017 compared to AED335.8mn for the same
period last year, a 7.2%
increase. Total assets reached AED37.8bn at the end of
Q3 of 2017, compared to AED33.5bn at the end of 2016.
Liquid assets hit AED 8.2bn or 21.6% of the Balance Sheet at the end of Q3 2017 compared to AED7.8bn or 23.4% at the end of 2016, reflecting the strong liquidity position of the bank and the strength of its financial position. Net customer receivables of the bank amounted to AED20.3bn at the end of Q3 2017, an increase of 18.8% or AED3.2bn compared to same period in 2016.
Investment securities rise 19.8% to reach AED4.9bn at end of Q3 2017 compared to AED4.1bn at the same period in 2016.
Throughout Q3 2017, the bank experienced positive growth rates in attracting deposits of all kinds, the balance of customer’s deposits, reported commendable growth by 20.5%, with an increase of AED3.8bn higher than of 2016 totaling to AED 22.1mn.
Net Operating Income reached AED696.5 million for the nine month of 2017 compared to AED 587.6 million in the same period 2016, an
increase of 18.5 percent.