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.
