Wednesday, Apr 30, 2014
Dubai: Emirates Investment Bank (EIBank), an independent private and investment banking boutique on Tuesday announced a net profit growth of 26 per cent in the first quarter of 2014 to Dh19.5 million from Dh15.4 million reported in the same period in 2013.
The bank’s total assets under management increased by 42 per cent to Dh6.04 billion in the first quart of this year compared to Dh4.26 billion in the same period last year. Customer deposits grew 22 per cent to Dh2.05 billion in the first quarter of 2014 compared to Dh1.68 billion in the same period last year.
“These results highlight our commitment to demonstrate excellence in all divisions. Growth of our assets under management in private banking was complemented by significant accomplishments in investment banking. We have had a particularly strong start to the year. As we continue to invest in our team and hire top talent, I am confident that we are well-positioned for positive performance in the future,” said Khaled Sifri, CEO of Emirates Investment Bank.
Staff Report
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