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Emirates Investment Bank’s net profits up 66.8% for 2017
Emirates Investment Bank (EIBank) has announced that its net profit increased 66.8 per cent to AED 56.52 million, compared with 2016’s AED 33.89 million, while operating income was AED 172.15 million, a 20.4 per cent increase on AED 142.98 million in 2016. According to the bank's preliminary financial results for the fiscal year ending 31 December 2017, total assets under EIBank’s management decreased 9.5 per cent to AED 10.53 billion from AED 11.63 billion in the same period last year.
"2017 was a positive year for Emirates Investment Bank despite the ongoing uncertainty in regional markets. Our strategy to further expand our offerings continued to pay off, resulting in steady growth in our net profit and a healthy level of activity across the business. Delivering the best value to our clients remains a key focus for us, and we are constantly looking for opportunities to bring to them that could help achieve their financial objectives," said Khaled Sifri, CEO of Emirates Investment Bank.
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