Sharjah Islamic Bank H1 profit inches up to Dh204.6m

Sharjah Islamic Bank (SIB) net profit in the first-half of 2015 inched up to Dh204.6 million as compared to Dh202.1 million for the same period last year.

Assets grew by seven per cent to reach Dh27.8 billion at the end of the 2nd quarter 2015 compared to Dh26 billion at the end of 2014.

Liquid assets reached Dh5.9 billion or 21.3 per cent of total assets at the end of the second quarter 2015.

Net customer receivables of the bank amounted to Dh15.9 billion, rising by 10.1 per cent or Dh1.5 billion compared to the end of 2014.

Investment securities surged 42 per cent to reach Dh2.2 billion compared to Dh1.6 billion at the end of 2014.

Customer deposits reached Dh15.3 billion, growing by Dh685.4 million or 4.7 per cent compared to Dh14.6 billion at the end of 2014.

Sukuk payable reached Dh5.1 billion by end of the 2nd quarter 2015 compared with Dh3.3 billion at the end of 2014 with an increase of Dh1.8 billion or 55.6 per cent.

Return on equity reached 8.93 per cent by the end of the 2nd  Quarter  2015 compared to 8.27 per cent at the end of December 2014, while Return on assets was 1.52 per cent by the end of the 2nd Quarter 2015 compared to 1.58 per cent at  the end of December 2014.

Total shareholders’ equity reached Dh4.6 billion or 16.4 per cent of total assets with a capital adequacy ratio equal to 21.62 per cent by the end of the second quarter of this year.

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