Arab Today, arab today bank of sharjah\s ninemonth profit slumps 45
Last Updated : GMT 19:50:02
Arab Today, arab today
Arab Today, arab today

Bank of Sharjah\'s nine-month profit slumps 45%

Arab Today, arab today

Arab Today, arab today Bank of Sharjah\'s nine-month profit slumps 45%

Sharjah - Arabstoday

Bank of Sharjah\'s net profit slumped 45 percent in the first nine months of 2011 compared to the same period last year. Net income reached AED216m, compared to AED393m and was blamed mainly on an increase in impairment provisions. The bank said in a statement: \"In view of the slower than expected recovery in the UAE economy and because of the new risk classification measures introduced by the UAE Central Bank, the bank considered it prudent to further constitute AED40m of collective impairment provisions during the third quarter of 2011.\" Total assets reached AED21.5bn, an increase of seven percent year-on-year, the bank said in a statement. The increase in total assets was mainly driven by a rise in customer deposits, the statement added. Total deposits reached AED15.7bn as of September 30, an increase of 14 percent. The bank\'s loans and advances rose six percent, totalling AED12.8bn over September 30, 2010. Varouj Nerguizian, executive director and general manager at Bank of Sharjah, said: \"While profitability is lagging behind due to general provisions, effective performance should be compared to the average of both net income and comprehensive income of 2010, as the year-end figures are more reflective of the reality than the quarterly figures. \"In an uncertain environment, prudential provision remains the key to meeting the unexpected.\"

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of sharjah\s ninemonth profit slumps 45 Arab Today, arab today bank of sharjah\s ninemonth profit slumps 45

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bank of sharjah\s ninemonth profit slumps 45 Arab Today, arab today bank of sharjah\s ninemonth profit slumps 45

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday