Emirates Islamic Bank announced its profits on investment and savings accounts for the 4th quarter of 2007, recording the highest profit rates in the market on deposits.
The Bank paid the most attractive returns on deposits. The annual rate of 6.75% on the two-year investment accounts is considered the highest return declared in the UAE. The one year, 9 months, 6 months, and three months investment accounts annual rates of 6.00% , 5.62%, 5.25%, and 4.87% respectively, are also considered to be among the highest return in the local banking industry.
Commenting on the results, Mr. Faisal Aqil, General Manager Retail Banking at Emirates Islamic Bank stated:” The year 2007 witnessed even greater success for Emirates Islamic Bank on all fronts, from new product innovations, product enhancement, network expansion, innovative customer service concepts and on top of all this we maintained our leading position as the highest profit distributor on deposits in the market. Giving such high profit rates to our depositors is our way of saying thank you to them for their support and to also say that we will always aim to help them maximize their returns or benefits on all products & services they take from us.”
Emirates Islamic Bank has 22 branches and is expected to open several other new branches in different areas of the UAE in the coming months.