Emirates Investment Bank Reports Financial Results for the Second Quarter and First Half of 2018

Press release
Published August 9th, 2018 - 06:05 GMT

Emirates Investment Bank (“EIBank”), an independent private bank based in the UAE (DFM: EIBank), today announced its financial results for thesecond quarter and first half of 2018.

 

Financial Highlights:

 

  • Q2 2018 net profit up 33.3% on same period last year to AED 11.81 million (Q2 2017: AED 8.86 million)
  • ·         H1 2018 net profit up 5.6% to AED 26.85 million (H1 2017: AED 25.43 million)
  • ·         H1 2018 operating income decreased 13.4% to AED 77.88 million (H1 2017: AED 89.89 million)
  • ·         Total assets under EIBank’s management increased 4.8% to AED 11.04 billion (FY 2017: AED 10.53 billion)

 

Khaled Sifri, CEO of Emirates Investment Bank, said,

“Over the first six months of 2018, Emirates Investment Bank has delivered a period of positive performance across the various functions. We have continued to add further depth to our offerings, providing our clients with bespoke solutions that accommodate to their individual needs. We have also concluded two important transactions in two critical sectors in the GCC - healthcare and F&B. Despite the ongoing challenging market conditions, our private banking team has managed to maintain momentum during the period, sustaining a healthy level of growth in our assets under management. As we expect these challenging times to continue through the second half of 2018, we will remain focused on further deepening our offerings and optimising value for our clients.”

Background Information

Emirates Investment Bank

As an independent private bank, Emirates Investment Bank offers a wide-range of tailor-made banking and investment services, supporting you through every stage of your wealth journey.

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