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Emirates Investment Bank reports Q2 & H1 2013 results

Dubai, UAE; * August 2013: Emirates Investment Bank (“the Bank”), an independent private and investment banking boutique (DFM: EIBank), today announces its results for second quarter and first half of its fiscal year 2013.

Financial Highlights:

• Net profit of AED 12.3m in Q2 2013, up by 48% from Q2 2012
• Net profit of AED 27.7m in H1 2013, up by 28% from H1 2012
• Customer deposits grew to AED 1.11 bn, up by 38% from December 2012
• Total assets grew to AED 2.2 bn, up by 21% from December 2012

Khaled Sifri, CEO of Emirates Investment Bank, said:
“Our results for the period underline the fundamental strengths of our strategy and business. We focused on tailoring our private banking services to meet our clients’ evolving demands and at the same time bolstered our team with dedicated professionals. In turn we have seen a significant increase in customer deposits and assets. From the investment banking side, we are currently advising a number of our clients on acquisitions across the region and expect to finalise these within the next 6 months.

“We believe that as we continue to deliver the highest quality of private and investment banking services, we will continue to cement our reputation as a trusted adviser to our clients.”

For the full Interim Condensed Financial Statements please click here.

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