24th july,2016

Sharjah Islamic Bank (SIB) posted a net profit of AED 257.0 million for the six month of 2016 compared to AED 204.6 million for the same period last year; a 25.6% increase. Total assets reached AED 29.8 billion at the end of the 2nd Quarter 2016 compared to AED 29.9 billion at the end of 2015.

Liquid assets reached AED 6.4 billion or 21.5% of total assets at the end of the 2nd Quarter 2016. Net customer receivable reached AED 15.8 million at the end of the 2nd quarter 2016 compared to AED 16.3 billion at the end of 2015.

Investment securities surged by 48.9% to reach AED 3.5 billion compared to AED 2.4 billion at the end of 2015.

SIB successfully attracted more deposits during the 2nd quarter of the year as customer deposits reached AED 17.5 billion growing by AED 526.3 million or 3.1% compared to AED 17.0 billion at the end of 2015.

During the Second Quarter 2016 the Bank has repaid a sukuk of USD 400 million, through the banks own sources, evidencing its excellent liquidity position.

Return (annualized) on Average Shareholders' Equity (ROAE) reached 10.89% by the end of the 2nd Quarter  2016 compared to 8.82% at the end of December 2015, while Return (annualized) on Average Assets (ROAA) was 1.72% by the end of the 2nd   Quarter 2016 compared to 1.47% at  the end of December 2015.

Sharjah Islamic Bank is strongly capitalized. Total shareholders' equity reached AED 4.7 billion or 15.9% of total assets with a capital adequacy ratio equal to 21.93% by the end of the 2nd Quarter 2016.

-Ends-

© Press Release 2016