Emirates Investment Bank (“EIBank”), an independent private bank based in the UAE (DFM: EIBank), today announced its financial results for the second quarter of 2019.
Financial Highlights:
Q2 2019 net profit at AED 11.92 million, up by 0.9% compared to same period last year (Q2 2018: AED 11.81 million)
Q2 2019 operating income increased 5.3% to AED 37.9 million (Q2 2018: AED 36.00 million)
Total assets under EIBank’s management decreased 15.5% to AED 8.19 billion (FY 2018: AED 9.69 billion)
Imad Bou Khouzam, Acting CEO of Emirates Investment Bank, said:
“The uncertain and challenging market conditions have continued to impact investors’ sentiment, and in turn, their investment decisions. Despite these unfavourable circumstances, we have been able to maintain a stable performance due to our diversified business model. Over the next period, we will remain prudent and vigilant, while we continue to focus on deepening and further enhancing our bespoke offering to clients.”