Dubai, UAE; 06 November 2019: Emirates Investment Bank (“EIBank”), an independent private bank based in the UAE (DFM: EIBank), today announced its financial results for the first nine months of 2019.
• Total Comprehensive Income for the nine-month period ended 30 September 2019 reached AED 30.37 million (same period 2018: AED 29.65 million)
• Net profit reached AED 21.50 million for the nine-month period ended 30 September 2019 (same period 2018: AED 32.77 million)
• Total assets under EIBank’s management as at 30 September 2019 amounted to AED 7.56 billion (FY 2018: AED 9.69 billion)
Imad Bou Khouzam, Acting CEO of Emirates Investment Bank, said:
“Over the past few months, we have implemented a set of revisions to Emirates Investment Bank’s risk appetite, which has resulted in a decline in the balance sheet. Nevertheless, we have been able to sustain our exposure to investments and maintain a healthy net interest and investment income over the period.”