Emirates Investment Bank reports 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)

  

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.

Financial Highlights: 

  • 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

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.