Sharjah Islamic Bank Q1 profit rises 3.7% to Dh70m

Sharjah Islamic Bank (SIB) on Monday said its first quarter profit rose 3.7 per cent to Dh70 million as compared to Dh67.5 million for the same period last year.

The balance sheet grew since December 2010 with total Assets reaching Dh17.1 billion compared to Dh16.7 billion, growing by 2.8 per cent.

Net customer receivables reached Dh10.3 billion compared to Dh9.7 billion in December 2010 - increasing by 6.3 per cent. While customer deposits reached Dh11.1 billion compared with Dh10.4 billion in December 2010 – an increase of 7.3 per cent.

It should be noted that the total shareholder equity reached Dh4.3 billion, representing 25 per cent of the total assets.

Follow Emirates 24|7 on Google News.