Dubai – Mubasher: Emirates Islamic Bank (EIB) turned to losses in the third quarter of 2016, according to a bourse statement.
Losses reached AED 30.82 million ($8.39 million) in Q3-16, against profits of AED 86.99 million ($23.68 million) in Q3-15.
Profits fell 80.1% to AED 106.48 million in the first nine months of 2016, compared to AED 533.95 million in the same period of 2015.
Total allowance for impairment rose to AED 959.09 million, compared to AED 570.96 million.
