Emirates Investment Bank reports financial results for the first nine months of 2019

Net profit reached AED 21.50 million for the nine-month period ended 30 September 2019

  

Dubai, UAE: Emirates Investment Bank (“EIBank”), an independent private bank based in the UAE (DFM: EIBank), today announced its financial results for the first nine months of 2019.

Financial Highlights: 

  • Total Comprehensive Income for the nine-month period ended 30 September 2019 reached AED 30.37 million (same period 2018: AED 29.65 million)
  • Net profit reached AED 21.50 million for the nine-month period ended 30 September 2019 (same period 2018: AED 32.77 million)
  • Total assets under EIBank’s management as at 30 September 2019 amounted to AED 7.56 billion (FY 2018: AED 9.69 billion)

Imad Bou Khouzam, Acting CEO of Emirates Investment Bank, said:

“Over the past few months, we have implemented a set of revisions to Emirates Investment Bank’s risk appetite, which has resulted in a decline in the balance sheet. Nevertheless, we have been able to sustain our exposure to investments and maintain a healthy net interest and investment income over the period.”

About Emirates Investment Bank pjsc:

Emirates Investment Bank is an independent private bank based in Dubai. It offers a wide-range of investment and banking services to an exclusive, but diverse, client base of high-net-worth individuals from across the region and around the world.

Emirates Investment Bank seeks to build long-term partnerships based on a foundation of trust, stability and integrity, which allows it to appreciate the unique circumstances and objectives of each of its clients.  This personalised approach guides Emirates Investment Bank when providing its clients with bespoke banking solutions in connection with their wealth, business, and every day affairs.

Emirates Investment Bank is regulated by the Central Bank of the UAE, and is a listed entity on the Dubai Financial Market (Ticker: EIBank). For further information, please visit: www.eibank.com.

© Press Release 2019

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