Monday, Jul 20, 2015

Dubai: Invest Bank on Monday reported a net profit of Dh193 million for the first six months of 2015, posting a flat profit growth compared to the same period last year.

For the second quarter ended June 30, 2015, the bank posted a net profit of Dh97.39 million, marginally down from 98.15 million in the same period last year.

The bank reported a operating income of Dh352 million in the first six months of 2015 as the net interest income increased to Dh241 million compared to Dh225 million in the first half of last year.

The bank’s non-interest income which include fee and commission incomes, income foreign exchange transactions, investment income and other income was at Dh111 million at the close of the first half of the year.

Total assets were at Dh14.49 billion as at June 30, 2015 compared to Dh13.82 billion at the end of 2014. Total liabilities increased to Dh11.66 billion from Dh11 billion at end of 2014.

The bank’s total loans and advances increased 5 per cent in the first six months of the year to Dh10.5 billion as customer deposits surged 4 per cent to Dh10.6 billion from year end 2014.

Staff Report

Gulf News 2015. All rights reserved.