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Sharjah Islamic Bank announced its nine month of 2014 results with Net Profits reaching AED 295 million, compared to 221 million achieved in the same period last year, a 33.5% growth rate.
Net customer facilities reached AED 13.9 billion rising by AED 1.4 billion, a 11.3% increase since December 2013 and customer deposits reached AED 14.2 billion rising by AED 2.2 billion or 18.9% growth since Dec 2013. Total Assets reached AED 24.4 billion, growing by 12.4% since Dec 2013.
Liquid assets reached AED 5.7 billion or 23.4% of the total assets compared to AED 5.1 billion or 23.6% at the end of 2013
SIB shareholder’s equity of 4.6 billion represents 18.6 per cent of the total balance sheet footing; maintaining a strong capital adequacy ratio of 25.3% by the end of September’14 reflecting the bank’s strong capital base and strong financial position that enables the Bank to achieve its strategic objectives.
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