Dubai, UAE: Emirates Investment Bank (“EIBank”), an independent private bank based in the UAE (DFM: EIBank), today announced its financial results for the second quarter of 2019.
- Q2 2019 net profit at AED 11.92 million, up by 0.9% compared to same period last year (Q2 2018: AED 11.81 million)
- Q2 2019 operating income increased 5.3% to AED 37.9 million (Q2 2018: AED 36.00 million)
- Total assets under EIBank’s management decreased 15.5% to AED 8.19 billion (FY 2018: AED 9.69 billion)
Imad Bou Khouzam, Acting CEO of Emirates Investment Bank, said:
“The uncertain and challenging market conditions have continued to impact investors’ sentiment, and in turn, their investment decisions. Despite these unfavourable circumstances, we have been able to maintain a stable performance due to our diversified business model. Over the next period, we will remain prudent and vigilant, while we continue to focus on deepening and further enhancing our bespoke offering to clients.”
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