Dubai: Invest Bank on Monday reported Dh169.23 million first half net profit, down 12 per cent compared to Dh193.1 million in the same period last year.
For the second quarter of this year the bank’s net profits were at Dh83.8 million, lower by 13 per cent compared to Dh97.39 million reported in the same quarter in 2015.
The bank posted an operating income of Dh380.89 million compared to Dh352 million in the comparable period last year. Net interest income at the close of the second quarter was Dh259.84 million, whereas the income excluding interest was at Dh121 million.
Total assets were at Dh15.09 billion and liabilities at Dh12.2 billion. Total loans and advances reached Dh11.5 billion and customer deposits were at Dh11.5 billion, an increase of 5 per cent and 1 per cent, respectively compared to year end 2015.
Provisions against loan impairments were at Dh115.97 million, up 85 per cent year on year compared to Dh62.63 million in the first half of 2015. Provisions in the second quarter of this year were down 13 per cent to Dh83.8 million from Dh97.39 million in the same quarter last year.
