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Company News, Business

Luberef net profit falls 7% in Q1

A fall in by-products sales leads to profit dip.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.

Emirates Islamic 2022 net profit $337m

The bank also reported a 36 percent increase in operating profit and a 15 percent increase in total assets to AED 75 billion. (WAM)
By Hilal Mir
January 26, 2023 8:05 pm
  • The bank also reported a 36 percent increase in operating profit and a 15 percent increase in total assets to AED 75 billion.
  • The bank's total income went up 33 percent year-on-year driven by higher funded income and non-funded income.

Dubai, UAE– Emirates Islamic reported a net profit of AED1.24 billion ($337 million) in 2022, a 51 percent increase from the previous year, driven by funded and non-funded income, coupled with a reduction in cost of risk, the bank said.

The bank also reported a 36 percent increase in operating profit and a 15 percent increase in total assets to AED 75 billion.

The bank’s total income went up 33 percent year-on-year driven by higher funded income and non-funded income.

Salah Mohammed Amin, CEO, said that Emirates Islamic had further strengthened its position as a leading Islamic financial institution in the UAE and that customer financing and deposits had grown by 14 percent and 19 percent.

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