Emirates Islamic Bank PJSC

Emirates Islamic reported a record profit of AED 2.5 billion for the first nine months of 2024, marking a 52% year-over-year increase. The bank's income rose by 16% to AED 4.1 billion, driven by growth in funded and non-funded income and a 24% increase in customer financing. In the third quarter of 2024, profits rose by 92% to AED 835 million, with income up 16% to AED 1.4 billion. Key performance highlights include a 16% increase in total income, a 10% decrease in expenses, and a 31% improvement in operating profit. The bank maintains a strong capital and liquidity position, with total assets at AED 107 billion and customer deposits at AED 74 billion. The non-performing financing ratio stands at 4.9% with a coverage ratio of 135%.

Emirates Islamic Bank, a public joint stock company based in Dubai, has released its unaudited group condensed consolidated interim financial statements for the nine-month period ending on September 30, 2024. The bank's head office is located on the 3rd floor of Building 16 in Dubai Health Care City, Dubai, United Arab Emirates. For more information, the bank can be contacted via phone at +971 600599995, fax at +971 4 3582659, or through their website at www.emiratesislamic.ae.

The Board of Directors of Emirates Islamic Bank (P.J.S.C) held a meeting on 16 October 2024. During the meeting, they approved the minutes from the previous board meeting held on 17 July 2024, approved the financial results for the three-month period ending on 30 September 2024, and discussed normal business activities. The letter is addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, and is signed by Dr. Ahmed Alkhalfawi, the Group Company Secretary of Emirates NBD Bank (P.J.S.C). A copy of the letter was also sent to the Securities & Commodities Authority.

The Board of Directors of Emirates Islamic Bank (P.J.S.C) is scheduled to meet on Wednesday, 16 October 2024, at 3:00 pm. The agenda includes approving the minutes of the previous board meeting, reviewing the financial results for the three-month period ending 30 September 2024, and discussing normal business activities. The communication is addressed to Mr. Hamed Ahmed Ali, the Chief Executive Officer of the Dubai Financial Market, and is sent by Dr. Ahmed Saeed Alkhalfawi, the Group Company Secretary of Emirates NBD Bank (P.J.S.C). A copy of the communication is also sent to the Securities & Commodities Authority.

Emirates Islamic reported a record profit of AED 1.7 billion for the first half of 2024, marking a 37% increase from the previous year. The bank's total assets surpassed AED 100 billion, reflecting a 16% growth. Total income rose by 15% to AED 2.7 billion, while operating profits increased by 40%. Expenses decreased by 20%, and impairment allowances dropped by 46%. The bank's net profit margin stood at 4.56%, and the cost-to-income ratio was 28.8%. Emirates Islamic's capital and liquidity remained strong, with a Common Equity Tier 1 ratio of 18.4% and a capital adequacy ratio of 19.6%. The bank received several awards, including 'Best Overall Islamic Bank' and 'Most Innovative Islamic Bank' at the Islamic Finance News Awards 2024.

Emirates Islamic Bank (Public Joint Stock Company) has released its unaudited group condensed consolidated interim financial statements for the six-month period ending on 30 June 2024. The bank's head office is located on the 3rd floor of Building 16 in Dubai Health Care City, Dubai, United Arab Emirates. Contact information includes a telephone number (+971 600599995), fax number (+971 4 3582659), and the website www.emiratesislamic.ae. The bank's P.O. Box number is 6564.