Dubai – Mubasher: Emirates Investment Bank (EIBank) posted a 239.6% year-on-year rise in its profits during the first quarter of 2017, according to a bourse filing.
Net profits reached AED 16.57 million ($4.51 million) in Q1-17, compared to AED 4.88 million ($1.33 million) in Q1-16.
Operating income doubled to stand at AED 47.87 million in the three-month period ended 31 March 2017, compared to AED 23.56 million in the same period last year
Assets under management (AuM) amounted to AED 10.14 billion in Q1-17, down 12.8% from AED 11.63 billion in Q1-16.
The bank had earlier posted profits of AED 33.89 million in 2016, a growth of 21% from AED 28.13 million in 2015.
