First quarter 2024 net profit for Emirates Islamic bank clears Dh811m

First quarter 2024 net profit for Emirates Islamic bank clears Dh811m

Dubai: First quarter net profit at Dubai headquartered Emirates Islamic bank totaled Dh811 million, up 35 per cent year-on-year. This was fueled by higher 'funded and non-funded income streams', the bank said. 

As for the 28 per cent increase in operating profit, it 'underscores the bank's operational efficiency' and 'mirrors the positive economic outlook within the buoyant regional economy'. "The bank’s total income grew 19 per cent compared to the first quarter of 2023, with customer deposits increasing by 9 per cent from end 2023, with current account and savings account balances at 77 per cent of total deposits," said Hesham Abdulla Al Qassim, Chairman. 

First quarter 2024 net profit for Emirates Islamic bank clears Dh811m