Sharjah Islamic Bank profits rise 9% to Dh125m
Increase comes as total income grows, expenses inch down
Dubai: Sharjah Islamic Bank reported on Sunday an 8.8 per cent increase in its profits for the third quarter of 2019 as total income rose and general expenses slid.
Profits for the quarter reached Dh124.9 million, bringing profits for the first nine months of 2019 to Dh415.4 million — up 4.4 per cent year-on-year.
The rise in earnings came as total income rose by 5.8 per cent in the third quarter to Dh467 million, and by 12.4 per cent in the first nine months to Dh1.4 billion.
Meanwhile, general expenses inched lower to Dh147.4 million in the third quarter from Dh150.5 million a year earlier.
Earnings per share remained flat at Dh0.14 at the end of September 2019.
On the balance sheet side, total customer financing rose to Dh25.4 billion at the end of the third quarter, while deposits stabilised to reach Dh26.9 billion.