Arab Today, arab today islamic bank recorded a net operating profit
Last Updated : GMT 22:30:21
Arab Today, arab today
Arab Today, arab today

Islamic Bank recorded a net operating profit

Arab Today, arab today

Arab Today, arab today Islamic Bank recorded a net operating profit

Dubai - Arabstoday

Net profit for the period ending June 30th was AED 85 million. The bank remains adequately capitalized with a capital adequacy ratio of 18.36 per cent. H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of Noor Islamic Bank said: “Our robust performance in the first half of this year is a direct result of the strategic initiatives and business model realignment that we have been undertaking within the bank over the past 18 months. Our efforts to focus our expertise on niche business opportunities are reflected in our earnings momentum.” He added that “We will maintain a prudent approach in our growth strategy. The bank’s capital adequacy ratio remains robust at 18.36 per cent. We remain confident and positive about our future and are well positioned to continue to provide consistent performance, both financially and operationally, and to maximise opportunities as the economic situation improves.” NIB’s improved results are underpinned by increased operating revenues and earnings stemming from the strategic consolidation drive adopted in 2010. Cost reductions were implemented with minimal impact on the bank’s overall business objectives and by continuously exercising disciplined risk management practices, the bank was able to deliver strong financial results. Hussain Al Qemzi, Chief Executive Officer, Noor Islamic Bank and Group CEO Noor Investment Group said: “We have been able to realise strong operating results as a consequence of remaining focussed on executing against our stated strategy of playing to our strengths and leveraging on our areas of expertise, across the UAE and regionally. The past six months of this year have shown steady growth in our net revenues of AED 386 million, whilst simultaneously generating an improvement of 7 per cent in our expense base against the same period last year. Against an operating loss of AED 9 million at the end of the first half of 2010, he continued the SIB has realized an operating profit of AED 207 million and a net profit of AED 85 million. “We will continue to remain focussed on our fundamentals of capital and liquidity management whilst continuously identifying opportunities to optimise our costs in order to ensure we deliver sustainable results.” “Our deposit base has grown by 40 per cent over same period in 2010, on a client base that has grown by 21 per cent. We will continue to invest in our core franchise proposition through enhancing our transactional and institutional banking, trade finance and wealth management capabilities”, Al Qemzi added.

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 islamic bank recorded a net operating profit Arab Today, arab today islamic bank recorded a net operating profit

 



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 islamic bank recorded a net operating profit Arab Today, arab today islamic bank recorded a net operating profit

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Sheraton Grand Hotel reveals its deals

GMT 12:20 2017 Monday ,25 September

Sheraton Grand Hotel reveals its deals
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 Iraq Kurds in historic independence vote

GMT 15:20 2017 Monday ,25 September

Iraq Kurds in historic independence vote
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
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 Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 11:11 2017 Sunday ,24 September

The dark side of new tourism hope

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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