EIBank 2015 net prof­its drop 39pc

The Pak Banker - - FRONT PAGE -

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.

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