Abu Dhabi – Mubasher: Sharjah Islamic Bank (NBS) posted a 6.4% year-on-year rise in its profits during the second quarter of 2017, according to a bourse statement.
Net profits reached AED 133.73 million ($36.40 million) in Q2-17, compared to AED 125.58 million ($34.18 million) in Q2-16.
Revenues increased by AED 52 million to AED 372 million in Q2-17, compared to AED 330 million in Q2-16. Income from Islamic financing grew 35% or AED 71 million year-on-year to reach AED 276 million in Q2-17.
Investment, fees, commission, and other income fell to AED 131.56 million in Q2-17, weighing down the bank’s Q2 profits.
The bank generated AED 272.87 million in the first half of 2017, up 6.2% to AED 257.01 million in the prior-year period.
