Saturday, Apr 30, 2016
Sharjah: Bank of Sharjah on Saturday announced that net profits had fallen 5 per cent for the first quarter of 2016 compared to the first quarter of 2015.
Total income for the quarter was up 6 per cent to Dh126 million, although net interest income was down 2 per cent. Earnings per share was down 10 per cent to 4.1 fil per share.
New liquidity for the quarter compared to the fourth quarter of 2015 was down 9 per cent to Dh7.463 billion.
Total assets reached Dh27,651 million, an increase of 6 per cent over the corresponding March 31, 2015 figure of Dh26,181 million. When compared to the December 31, 2015 figure, total assets remained the same.
Customers’ deposits reached Dh19,303 million, an increase of 3 per cent over the corresponding March 31, 2015 figure of Dh18,746 million. When compared to the December 31, 2015 figure, customers’ deposits slightly decreased by 1 per cent from Dh19,492 million.
In February, Bank of Sharjah reported a net profit of Dh250 million for the year 2015, down 13 per cent compared to Dh286 million for 2014.
Staff Report
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