Sharjah Islamic Bank announced its 1st quarter 2010 results yesterday with net profit of AED 67.5 million, compared to 85.0 million achieved in the same period last yea.

The balance sheet grew since December 2009 with total Assets reaching AED 16.2 billion compared with AED 16.0 billion. Total liquid assets increased by AED 365.0 million 11% to reach AED 3.5 billion, represents 22% of total assets compared to AED 3.2 billion 20% of total assets at December 2009 and customer deposits reached AED 10.1 billion, compared with AED 9.9 billion since Dec 2009.

While Net customer receivables reached AED 9.7 billion compared to AED 10.0 million on Dec 2009. Total shareholder equity amounting to AED 4.2 billion represents 26% of the total assets reflecting the bank’s strong capital base and strong financial position that will enable the bank to achieve its strategic objectives.