DUBAI:

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.