Mubasher: Bank of Sharjah on Tuesday reported a 1% year-on-year drop in profits for the first nine months of 2017.
Net profit amounted to AED 265 million ($72.13 million) in the nine-month period of 2017, compared to AED 268 million ($72.94 million) in the prior-year period, the bank added in a filing to the Abu Dhabi Securities Exchange (ADX).
Earnings per Share (EPS) fell 1% to 12.3 fils in the nine-month period from 12.4 fils in the same period of 2016.
The ADX-listed bank’s net interest income declined 12% in the nine-month period to AED 352 million.
Operating income retreated to AED 489 million in the same period, versus AED 490 million in the first nine months of 2016.
Total equity tumbled 3% to AED 4.50 million in the nine-month period, compared to AED 4.62 million in the year-ago period.
Total assets rose 27% to AED 33.05 million in the nine-month period of 2017 from AED 26.12 million in the corresponding period of 2016.
Bank of Sharjah had previously posted a 13.6% year-on-year drop in profits of the first half of 2017 to AED 152 million.
