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08 December 2023

Noor Islamic Bank posts operating profit

By Staff

Noor Islamic Bank posted an operating profit for the first time last year as the lender’s assets rallied after the global financial crisis, a top official was quoted as saying by The National.

“This was our third year of operation and for the first time we performed operating profit,” Ahmed Aljanahi, the bank’s deputy group chief executive said.

“Our assets have performed well and we achieved the performance target set when we launched,” he said.

The bank is targeting a growth of 10 per cent in its balance sheet this year from income linked to loans and syndication, the report quoted him as saying.