Emirates Investment Bank reports financial results for the first quarter of 2017

DUBAI, — Emirates Investment Bank today announced that its Q1 2017 net profit tripled to AED16.57 million, comparing to AED4.88 million in Q1 2016.

The bank also said that Q1 2017 operating income doubled to AED47.87 million, instead of AED23.56 million in Q1 2016, meanwhile, total assets under the bank’s management decreased 12.8% over FY 2016 to AED10.14 billion from AED 11.63 billion by 31st December, 2016.

Commenting on the results, Khaled Sifri, CEO of Emirates Investment Bank, said, “Emirates Investment Bank has had a very strong start to 2017, with the bank achieving significant growth in net profit on the same period last year. We have achieved this by continuing to focus on delivering a premium private banking service to our clients, who are always at the core of everything we do, and by carefully managing our market positions to take advantage of emerging opportunities.”

Source: Emirates News Agency

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