Abu Dhabi – Mubasher: Sharjah Islamic Bank’s (SIB) net profits increased by 3% year-on-year to AED 143.1 million ($38.95 million) in the first quarter of 2018.
The bank’s provision for impairment dropped 53% year-on-year to AED 14.4 million in Q1-18, according to a bourse statement released on Sunday.
Earnings per share (EPS) stood at AED 0.05, while operating revenue surged 9% to AED 400.6 million in the first three months of the year versus AED 366.2 million in the year-ago period.
Audited customer deposits recorded AED 22.32 million from January to March, the Abu Dhabi-listed bank’s data showed.
In February, the bank’s ordinary general meeting approved a proposal to distribute an 8% cash dividends for 2017 to shareholders.
