Jul 25 2011 |
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Noor Islamic Bank Makes AED85 Mln Net Profit In 1H 2011
Monday, Jul 25, 2011
(This item was originally published on Sunday.)
BEIRUT (Zawya Dow Jones)-- Noor Islamic Bank , the Shariah-compliant lender partly owned by the Dubai government, said Sunday it made a net profit of 85 million U.A.E. dirhams ($23 million) for the first half of 2011.
The four-year old bank which is 95% owned by Noor Investment Group , recorded a net operating profit of AED207 million for the first six months of 2011, on a revenue base of AED386 million, it said in an e-mailed statement.
According to Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, chairman of Noor Islamic Bank , the bank remains confident and positive about the future and is "well positioned to continue to provide consistent performance, both financially and operationally, and to maximise opportunities as the economic situation improves."
Noor Investment Group is 25% owned by Investment Corporation of Dubai and 25% owned by Dubai Holding.
-By Mirna Sleiman; Dow Jones Newswires; +97 1 4446 1698; mirna.sleiman@dowjones.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
25-07-11 0352GMT
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