2.8 billion dirhams net profits "Islamic Emirates" In 2024
Dubai, January 29 / WAM / Emirates Islamic Bank achieved record profits of 3.1 billion dirhams during 2024, before the taxes were calculated, i.e. an increase of 46% compared to the previous year, while the net profit increased to record a record of 2.8 billion dirhams, an increase of 32% .
The total income of the bank increased by 13% compared to the same period in the previous year to reach 5.4 billion dirhams due to the increase in the income and non -funded income.
The total assets increased by 27% to 111 billion dirhams in 2024, and the financing activities of customers increased by 31% to reach 71 billion dirhams in 2024.
The dealers ’deposits increased by 25% to 77 billion dirhams in 2024, while the current account balances and savings accounts represented 70% of the total deposits.
Hisham Abdullah Al -Qasim, Chairman of the Emirates Islamic Board, said that during the year 2024 the bank achieved its best financial performance, which strengthened its position as the fastest growing Islamic bank in the UAE.
He added, that the prominent path of the bank is reflected in the strong public budget; As the assets have grown at the fastest pace compared to any Emirati Islamic bank since 2020.
In turn, Farid Al -Mulla, CEO of the Emirates Islamic Bank, said that the bank exceeded expectations in 2024, and that this success is due to the strong growth in both funded and incorporated income, which led to a net of good profit margin with a low cost of risk.
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