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Dubai-listed Emirates Islamic on Thursday reported a record 35% Q1 2024 net profit increase of 811 billion dirhams ($221 million).
The Islamic lender reported total income of AED 1.34 billion, up 19% on higher funded and non-funded income streams, the bank said in a filing on the Dubai Financial Market.
Impairment allowances fell 56% year-on-year (YoY) to AED 68.5 million, the shariah complaint subsidiary of Dubai's Emirates NBD said.
Total assets grew 8% to AED 95 billion from end 2023 while customer financing rose by 6% to AED 57 billion.
Customer deposits grew by 9% over the same period to reach AED 66.7 billion.
(Writing by Brinda Darasha; editing by Daniel Luiz)
