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09 June 2023

EIB announces over 6% profit rate on deposits

Ebrahim Fayez Al Shams (SUPPLIED)

By Staff Writer

Emirates Islamic Bank (EIB), a leading Islamic financial institutions in the region, yesterday announced over six per cent profit rate on deposits for the fourth quarter of 2008.

The bank announced the new rates as under two-year 6.300 per cent, one-year 6.250 per cent, nine months 6.150 per cent, six months 6.100 per cent and three months 6.075 per cent. These rates are among the highest returns in the country.

Ebrahim Fayez Al Shamsi, CEO of EIB, said: "In 2008, we have achieved record-breaking results for the bank on all fronts. We continue to lead as the preferred bank in all our target segments. The profit rate results on our deposits are yet another win for our customers and all our stakeholders. We have once again declared the highest profit rates on select deposits in the UAE, in line with our track record for the past few years."

EIB has 28 branches across the country and is expected to open several other new ones in different areas of the UAE in the coming months.