Dubai, UAE; 29 October 2017: Emirates Investment Bank (“EIBank”), an independent private bank based in UAE (DFM: EIBank), today announced its financial results for the third quarter and first nine months of 2017.
Q3 2017 net profit up 48.4% on same period last year to AED 18.94 million (Q3 2016: AED 12.76 million)
Nine-month period ended 30 September 2017 net profit was AED 44.38 million, up 73.9% on nine-month period ended September 2016 (AED 25.51 million)
Khaled Sifri, CEO of Emirates Investment Bank, said,
“In 2017, we have continued to see positive performance with consistent net profit growth throughout the year. As we continue into the final quarter of 2017, our focus remains on further broadening our private banking solutions, to better serve our clients. Today, our approach is more holistic than ever, providing clients with access to a broad set of bespoke offerings that accommodate their changing needs.”
“We believe that the ongoing development in the UAE market is set to further strengthen its position as a global hub for wealth management. This in turn is translating into a new wave of opportunities for us as a local private bank to reach a larger base of high net worth individuals from the region, and worldwide.”