As at 31 December 2013, Bank of Sharjah's total assets reached AED 24,973 million, 9% above the December 31, 2012, figure of AED 22,833 million. The Bank continued to grow its deposit base, which reached AED 18,374 million as of December 31, 2013, 12% over the December 31, 2012, figure of AED 16,476 million, a bank statement said. Loans and advances reached AED 13,135 million, 6% above the December 31, 2012, figure of AED 12,444 million. The continued increase in deposits over loans and advances has enhanced the loans-to-deposits ratio which further improved during the year to 71% in December 2013 from 76% in December 2012. This led to the 23% surge in net liquidity, which reached AED 7.4 billion by the end of 2013, compared to AED 6 billion at the end of 2012. Total shareholders' equity increased by 4% to reach AED 4,353 million compared to AED 4,182 million, and the capital adequacy ratio stood at 22.32% as of December 31, 2013, compared to 23.00% for the same period in 2012, highlighting the solidity of the balance sheet structure. Net interest income declined by 13%, mainly due to the 12% increase in customer deposits. Furthermore, excess liquidity in the market and re-pricing of risk - due to the improved economic environment - have put pressure on margins. However, operating income for the year reached AED 610 million, 23% above last year figures of AED 495 million, mainly driven by the increase in non-interest income, resulting from the increase in investment revenues. All the above led to the 27% increase in the current year net profit which reached AED 353 million, versus AED 277 million for the year ended December 31, 2012. As a result, earnings per share for the year surged 31% and reached 17.1 fils compared to 13.1 fils in 2012. Moreover, total comprehensive income grew by 59% to reach AED 433 million versus AED 273 million in 2012, on the back of the improvements witnessed by financial markets. The Board expressed its extreme satisfaction with the results and considered the move to the new Head Office to be a good omen for 2014 that ushers to be an excellent year as well.