Emirates Investment Bank reports financial results for the first quarter 2015
Dubai, UAE; 28 April 2015: Emirates Investment Bank (“EIBank”), an independent private and investment banking boutique (DFM: EIBank), today announced its financial results for the first quarter 2015.
Net Profit up by 9% to AED 21.23 million (Q1 2014: AED 19.52 million)
Customer deposits increased by 13% on FY 2014 to AED 3.38 billion (Dec 2014: AED 2.99 billion)
Total Assets under Management grew 3% on FY 2014 to AED 7.92 billion (Dec 2014: AED 7.71 billion)
Balance sheet assets up by 11% on FY 2014 to AED 3.89 billion (Dec 2014: AED 3.50 billion)
Khaled Sifri, CEO of Emirates Investment Bank, said:
“The strong demand for our private banking services and the bank’s ability to meet the return expectations of our clients and shareholders continued to drive growth in the first quarter of the year. Meanwhile, the increase in customer deposits and Assets under Management reflect the trust that our clients have in our personalised private banking service, delivered through a boutique platform to both regional and international clients.
“This is a strong start to the year; another confirmation of the long-term potential for greater success of our unique private banking and investment banking model.”