(MENAFNEditorial) Sharjah Islamic Bank announced its 1st Quarter 2014 results with Net Profits reaching AED 110 million, compared to 84.8 million achieved in the same period last year, a 30% growth rate.
Net customer facilities reached AED 13.3 billion rising by AED 803.3 million, a 6.4% increase since December 2013 and customer deposits reached AED 12.3 billion rising by AED 355.8 million or 3% growth since Dec 2013. Total Assets reached AED 22.1 million, growing by 1.8% since Dec 2013.
SIB shareholder's equity of 4.4 billion represents 19.9 per cent of the total balance sheet footing reflecting the bank's strong capital base and strong financial position that enables the Bank to achieve its strategic objectives.
Mohamed Abdullah, CEO of Sharjah Islamic Bank commented, "The first quarter results are a positive indicator for the year ahead. As the bank continues to achieve its growth plans and future strategy, SIB has positioned itself to benefit from the positive future economic outlook to achieve the best results and strengthen its financial position.
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