Dubai – Mubasher: Emirates Investment Bank's (EIBank) profits rose 19.4% year-on-year to AED 7.88 million ($2.2 million) in the second quarter of 2016 from AED 6.6 million ($1.8 million).
The bank's profits declined 54.2% to AED 12.76 million in the first six months of 2016 from AED 27.83 million in the year ago period, according to a banks' report on Thursday.
Operating income shed 0.6% to AED 63.67 million in H1-16 from AED 64.06 million in the same period of 2015.
“On the investment banking side of the business, we successfully closed three transactions during the first half of the year and continue to manage a strong pipeline of mandates that are anticipated to complete in the coming months,” Khaled Sifri, CEO of EIBank, commented on the bank's results.
