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Dubai-based Emirates Investment Bank has seen its third-quarter income surge by five times compared to a year earlier.
Profit attributable to equity holders stood at AED25 million ($6.8 million) during the quarter, up from a little over AED5 million in the same period last year, according to a disclosure on the Dubai Financial Market.
The private bank, which offers investment and banking services to high-net-worth individuals (HNWIs), recorded an interest income of AED32.8 million during the quarter, more than doubling the previous year’s AED14.1 million.
Net income from investments also increased to AED16.6 million from AED12 million during the same period.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
