The Pak Banker - - FRONT PAGE -

Noor Bank re­ported record net prof­its of Dh272 mil­lion for the first six months, end­ing June 30, 2015, up 26 per cent from the same pe­riod last year. Dur­ing H1 of 2015, Noor Bank suc­cess­fully closed its inau­gu­ral $500 mil­lion five-year sukuk that was over­sub­scribed by more than 4.3 times mainly from in­vestors in Europe and Asia. At 2.788 per cent, the bank achieved one of the low­est ever prices paid out by any sukuk is­suer in the UAE. The sukuk will en­able Noor Bank to di­ver­sify its fund­ing port­fo­lio as part of its on­go­ing fi­nan­cial strat­egy.

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