Bank Of Sharjah Announces Financial Results For The Period Ended 31 December 2018
Net Profit for the year down by 51% compared to 31 December 2017
Bank of Sharjah P.J.S.C today announced the results for the period ended 31 December 2018
Net Interest Income increased by 10% compared to the corresponding figure of the year 2017, Non-Interest Income decreased by 33% and operating income decreased by 7%. The net operating income reached AED 469 million for the year 2018 compared to AED 569 million for the year 2017, a decrease of 17%.
Net profit for the current year 2018 reached AED 130 million, against AED 265 million for 2017, down by 51%. Earnings per share for the year 2018 were down by 54% and reached 6 fils compared to 13 fils in 2017.
Total Comprehensive income for the year increased by 102% to AED 3 million versus a total comprehensive loss of AED 155 million for 2017. This was mainly due to a positive effect from change in fair value of issued bonds.
Total Assets reached AED 29,011 million, a decrease of 5% over the corresponding 31 December 2017 figure of AED 30,511 million.
Loans and Advances
Loans and Advances reached AED 16,214 million, 7% below the corresponding figure of AED 17,476 million as at 31 December 2017.
Customers’ Deposits reached AED 20,119 million, 7% below the corresponding 31 December 2017 balance of AED 21,630 million.
Capital and Liquidity
Total Equity as at 31 December 2018 stood at AED 3,779 million, 7% below the corresponding 31 December 2017 balance of AED 4,068 million.
Net Liquidity reached AED 5,688 million as at 31 December 2018, a decrease of 28% compared to 2017 year figure of AED 7,872 million.