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Homechevron_rightBusinesschevron_rightEmirates Islamic Bank...

Emirates Islamic Bank profits up

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Emirates Islamic Bank profits up
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Dubai: The Emirates Islamic Bank announced Tuesday that its operating profits rose to 138 million dirhams (about $16 million) at the close of the first quarter of 2012.

This is 68 percent growth over Q1 and Q4 2011. Total net income rose to 228 million dirhams for Q1 2012, a 21 percent increase from the same period one year ago.

Likewise, customer accounts grew by 5 percent during the first quarter of 2012, while assets grew by 13 percent from year-end, 2011.

Following its change of management in October 2011, the bank has embarked on an aggressive three-year growth strategy, which has started to pay off.

IANS

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