Abu Dhabi – Mubasher: Bank of Sharjah (BOS) saw a decline in profits by 28.4% year-on-year during the first quarter of 2017, according to a bourse statement.
Net profits reached AED 58 million ($15.79 million) in Q1-17, compared to AED 81 million ($22.05 million) in Q1-16.
Total income fell 21.1% to AED 142 million in Q1-17, compared to AED 180 million in Q1-16.
Net profits were weighed down by the downturn in the market value of strategic investments which are expected to be recovered in 2017, the company said.
