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21-10-19
Sharjah Islamic net profit increases 4.5 percent in 9 months
(MENAFN) The Sharjah Islamic Bank (SIB) has reported a net profit of USD113 million for the first nine months of 2019, compared to USD108.29million for the same period last year, with a projected increase of 4.5 percent.
Emirates news agency Wam reported, the bank's total benefits reached USD12.42billion as of the end of the third quarter of 2019, with an increase of USD242.3million from December 31, 2018.
On the assets side, total customer financing reached USD6.92billion at the end of third quarter 2019, compared to USD6.56 billion at the end of 2018, an increase of 5.3 percent.
A conservative strategy of maintaining the liquidity level at above 20 percent of total assets, the bank succeeded to pursue. As a result, liquid assets reached USD2.53billion or 20.5 percent of total assets at the end of the third quarter of 2019.
MENAFN2110201900450000ID1099155636
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