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Emirates Investment Bank reports Q1 2014 results

Emirates Investment Bank reports Q1 2014 results
Dubai, UAE; 29 April 2014:  Emirates Investment Bank (“EIBank”), an independent private and investment banking boutique (DFM: EIBank), today announced its results for the first quarter 2014.

Financial Highlights:

Net Profit up by 26% to AED19.5 million (Q1 2013: AED15.4 million)
Customer Deposits grew 22% to AED2.05 billion (Dec 2013: AED 1.68 billion)
Total Assets under Management increased by 42% to AED 6.04 billion (Dec 2013: AED4.26 billion)

Khaled Sifri, CEO of Emirates Investment Bank, said:

“We have delivered robust financial results in this first quarter, further reinforcing the high quality service we deliver to our clients.  These results highlight our commitment to demonstrate excellence in all divisions.  Growth of our assets under management in private banking was complemented by significant accomplishments in investment banking.

“We have had a particularly strong start to the year.  As we continue to invest in our team and hire top talent, I am confident that we are well positioned for positive performance in the future.”

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