Dubai, UAE: Emirates Investment Bank (“EIBank”), an independent private bank based in the UAE (DFM: EIBank), today announced its financial results for the quarter ending 31 March 2018.
Net profit down 9.5% to AED 15.00 million (Q1 2017: AED 16.57 million)Operating income decreased 12.5% to AED 41.87 million (Q1 2017: AED 47.87 million)Total assets under EIBank’s management increased 2.7% to AED 10.81 billion (FY 2017: AED 10.53 billion)
Khaled Sifri, CEO of Emirates Investment Bank, said,
“Emirates Investment Bank had a good start to 2018, building on the positive performance we achieved last year. During the quarter, we saw a heathy level of activity across the board, with investment banking being one of the most active functions for the Bank. in January, we advised on the acquisition of a healthcare facility in Saudi Arabia, and are currently involved in a strong pipeline of transactions in the healthcare sector as well as education and F&B.”
He added: “As the UAE continues to gain momentum on the global stage as a wealth management hub, we remain focused on strengthening our offerings to provide the optimum value for our global-base of clients. This is particularly important in the current uncertain times for regional markets.”
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.
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© Press Release 2018