Dubai
Invest Bank on Wednesday reported a net profit of Dh177.93 million for the first half of 2017, up 5 per cent compared to Dh169.23 reported in the same period last year.
For the second quarter of 2017, the bank reported a net profit of Dh88.27 million compared to Dh83.8 million reported in the same quarter in 2016.
The bank’s net interest income during the first six months of 2017 was at Dh253.24 million down from Dh259.84 million during the same period last year.
For the first half of this year, the banks net impairment losses were down to Dh97.23 million compared to Dh115.97 million in the same period last year. But in the second quarter on this year net impairments were up 14.2 per cent year on year to Dh61.91 million compared to Dh54.17 million reported in the second quarter of 2016.
