Dubai – Mubasher: Emirates Investment Bank (EIBank) turned profitable in the fourth quarter of 2016, according to a bourse statement.
The bank achieved profits of AED 8.39 million ($2.28 million) in Q4-16, against losses of AED 1.38 million ($375.64 million) in Q4-15.
Profits reached AED 33.89 million in the fiscal year 2016, a rise of 21% from AED 28.13 million in the fiscal year 2015.
Total customer deposits rose 8.2% to AED 3.43 billion in FY16, compared to AED 3.17 billion in FY15.
