Dubai: Emirates Investment Bank (EIBank), an independent private bank based in the UAE, on Sunday reported a net profit of Dh32.77 million for the nine-month period ended 30 September 2018, compared to Dh44.38 million reported in the same period in 2017.
Operating income stood at Dh108.39 million for the nine-month period ended 30 September 2018 compared to Dh132.27 million reported in the same period last year. Total assets under EIBank’s management amounted to Dh10.77 billion compared to Dh10.53 billion at year-end 2017.
“We entered the second half of the year knowing that it will be a period of challenging market conditions, underpinned by higher interest rates and continued volatility in the regional and global markets. While this has resulted in a period of slower activity for EIBank, our assets under management continued to grow over the course of the third quarter,” said Khaled Sifri, CEO of Emirates Investment Bank.