Media ININ Economy We Trust
Media In / Sharjah 30 -01-2019 / WAM
Sharjah Islamic Bank recorded a net profit of AED 510.4 million in 2018 compared to AED 477.7 million for the previous year, an increase of 7%.
These results reflect the success of the Bank’s strategy of achieving steady and stable growth in profitability and financial position. Total operating income was AED 1.7 billion compared to AED 1.5 billion for the year 2017, an increase of AED 225.8 million or 15.2%.
Total other income from commissions, investments and subsidiaries increased to AED 562.3 million in 2018 compared to AED 541.3 million in 2017 at AED 21.0 million, an increase of 4%, while net operating income was AED 1.1 billion compared to AED 0.9 billion From last year and an increase of 16.5 percent, equivalent to 154 million dirhams.
The balance sheet showed a strong performance and an improvement in the financial position of the bank after total assets stood at 44.7 billion dirhams at the end of 2018, up 17 percent compared to 38.3 billion dirhams from the previous year.
