Business | Banking

Sharjah Islamic Bank’s 2012 net profit at Dh272m

Balance sheet grew since December 2011 with total assets reaching Dh18.3 billion compared with Dh17.7 billion

  • Staff Report
  • Published: 15:43 January 17, 2013
  • Gulf News

Sharjah: Sharjah Islamic Bank said on Thursday said its net profit for 2012 stood at Dh272 million, compared to Dh251.1 million achieved a year ago with an increase of 8.3 per cent.

The bank’s balance sheet grew since December 2011 with total assets reaching Dh18.3 billion compared with Dh17.7 billion which is 3.3 per cent, the bank said in a statement.

It added that net customer receivables reached Dh10.7 billion compared to Dh10.4 billion on December 2011 with an increase of 3.1 per cent and customer deposits reached Dh11.3 billion, compared with Dh10.4 billion with an increase of 9.0 per cent since Dec 2011.

Total shareholder equity amounting to Dh4.4 billion represents 24.3 per cent of the total assets and total liquid assets reached Dh4.2 billion which represents 22.7 per cent of the total assets reflecting the bank’s strong financial position, it stated.

Further, the bank’s directors proposed to the shareholders a cash dividend of six per cent of the par value of share (Dh0.06 per share) amounting to Dh145.5 million.

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