Emirates Investment Bank (“EIBank”), an independent private bank based in the UAE (DFM: EIBank), today announced its preliminary financial results for the fiscal year ending 31 December 2018.
• Net profit down 31.50% to AED 38.71 million (FY 2017: AED 56.52 million)
• Operating income was AED 136 million, a 21% decrease from FY 2017 (AED 172.15 million)
• Total assets under EIBank’s management decreased 7.97% to AED 9.69 billion from FY 2017 (AED 10.53 billion)
Khaled Sifri, CEO of Emirates Investment Bank, said,
“Emirates Investment Bank witnessed a remarkably successful year in 2017, driven by unprecedented levels of transactional activity. In 2018, our performance across the board was steady, more in-line with our usual business activities and long-term strategy. Our income and profitability levels in turn followed this trend over the course of the year. Today, our priorities for the business remain the same. The depth and breadth of our products and services, and our understanding and exposure to regional and global markets, give us the edge we need to remain close to our clients and provide them with the best experience and opportunities to pursue their ambitions.”