Abu Dhabi-Mubasher: Sharjah Islamic Bank reported a 23% growth year-on-year in its profits for the first quarter of 2016, according to a bourse statement.
Profits reached AED 131.4 million ($35.7 million) in the first quarter of 2016, compared to AED 106.9 million ($29 million) in the same quarter of 2015.
The profit rise is mainly attributed to an increase in the bank's operating income by 55% to AED 219.2 million ($59.68 million) in Q1-16, compared to AED 141.5 million ($38.52 million) in Q1-15.
