Dubai, UAE; 08 August 2017:
Emirates Investment Bank (“EIBank”), an independent private bank based in UAE (DFM: EIBank), today announced its financial results for the second quarter and first half of 2017.
Q2 2017 net profit up 12.4% on same period last year to AED 8.86 million (Q2 2016: AED 7.88 million)
H1 2017 net profit of AED25.43 million, up 99.3% on H1 2016 (AED 12.76 million)
Total assets under the Bank’s management decreased 9.7% on FY 2016 to AED 10.50 billion (Dec 2016: AED 11.63 billion)
Khaled Sifri, CEO of Emirates Investment Bank, said,
“Over the past few years, Emirates Investment Bank has been able to grow rapidly by maintaining a clear focus on delivering a flexible and personal private banking service to our clients. Credit needs to be given to our dedicated staff, but also to the environment we operate in. The UAE is emerging as an important hub for wealth management not only within the region but also globally and we, at Emirates Investment Bank, are beneficiaries of this development. It has allowed us to provide our bespoke private banking services to clients from our region, as well as from around the world.
“Looking ahead, we are actively exploring ways to further expand our range of services to meet the evolving needs of high net worth individuals – we hope to announce these over the coming quarters.”