Dubai – Mubasher: Emirates Investment Bank (EIBank) on Thursday posted a 33.3% year-on-year rise in net profit for the second quarter of 2018.

The independent private bank logged AED 11.81 million in profits for the three-month period ended June, compared to AED 11.81 million in Q2-17, according to a filing to the Dubai Financial Market (DFM).

In the first half of 2018, net profits stood at AED 26.85 million, up 5.6% from AED 25.43 million in the prior-year period.

On the other hand, operating income fell 13.4% to AED 77.88 million in the six-month period ended June, versus AED 89.89 million in H1-17.

Moreover, total assets under the UAE-based bank’s management increased 4.8% to AED 11.04 billion at the end of June.

EIBank previously reported a 9.5% year-on-year decline in its profits for Q1-18, generating a net profit of AED 15 million, versus to AED 16.57 million.


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