Dubai –  The shareholders of Emirates Islamic Bank decided, during their 47th general assembly meeting on 22 February, to withhold dividends for the year ended on 31 December 2022.

The resolution boosted the board’s recommendation to not pay dividends to the equityholders of the bank, according to a press release.

The approval was based on the justifications presented by the board in its report to the shareholders.

Chairman of Emirates Islamic Bank, Hesham Abdulla Al Qassim, said: “We are delighted to announce that Emirates Islamic delivered its highest ever net profit of AED 1.24 billion in 2022, marking a significant 51% increase compared to 2021.”

Al Qassim added: “This remarkable achievement within a competitive market reflects our resilience and ingenuity in staying ahead of the curve, solidifying our firm position on the global Islamic banking map.”

In 2022, the bank's net profits were higher than AED 823.08 million in 2021.

The UAE lender registered customer deposits of AED 56.34 billion at the end of December 2022, compared with AED 47.26 billion a year earlier.

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