EIBank 2015 net profits drop 39pc
Emirates Investment Bank, or EIBank, posted a 39 per cent drop in net profit in 2015 to Dh28.13 million from 2014 of Dh 46.23 million according to preliminary financial results for the fiscal year ended 31 December 2015.
The independent boutique private and investment bank, announced on Thursday the customer deposits increased by six per cent to Dh3.17 billion against Dh 2.99 billion in 2014. "Our core private banking business remained resilient in 2015, with customer deposits and assets under management showing robust growth, which is a testament to the strong relationships we have with our clients.
While the operating environment in the year was challenging, there is still strong appetite for high quality banking services, and we are confident that we will continue to grow alongside our clients in 2016," Khaled Sifri, chief executive officer of Emirates Investment Bank.