Emirates Bank results get shareholders' nod

Dubai: Emirates Bank yesterday held its annual general meeting, in which shareholders approved last year's annual results.

"The last fiscal year proved to be an exciting 12 months in the history of Emirates Bank, as we experienced exceptional growth due mainly to the country's booming economy along with our highly appreciated products and services," Ahmad Humaid Al Tayer, Emirates Bank chairman, said in a statement.

"While we recorded a net profit of Dh1.7 billion, customer deposits amounted to Dh29.4 billion and total assets now exceed Dh59.3 billion.

Bolstered by such powerful economic circumstances, we are well positioned to take advantage of current market dynamics and set new standards of excellence in all aspects of the banking industry.

"With Islamic Banking gaining prominence within the region, we promoted this service through Emirates Islamic Bank, with results exceeding all expectations in its first year, while we extended the Emirates Bank presence into Abu Dhabi, Al Ain, Fujairah, Ras Al Khaimah and introduced our unique banking model to Saudi Arabia, as part of long-term strategic initiatives."

Ahmad Al Tayer says the outstanding return on investment our equity holders enjoy would not have been possible without the dedicated support of our employees."