Wednesday 15, February 2017 by Georgina Enzer
Emirates Investment Bank reports preliminary full year 2016 results
UAE-based private bank, Emirates Investment Bank (“EIBank”), (DFM: EIBank), has announced its preliminary financial results for the fiscal year ended 31 December 2016.
“2016 has been a landmark year for Emirates Investment Bank, during which the validity of our market positioning strategy and service proposition was clearly demonstrated. In the face of volatile markets and a challenging economic environment, we have seen solid growth in net profit, assets under management and customer deposits. We have continued to expand our range of private banking services, which has allowed us to welcome new clients while also strengthening existing relationships. Elsewhere, our investment banking team had a successful year and made a significant contribution to the year’s revenue, primarily a result of four M&A transactions in the education and healthcare sectors. For 2017, we are looking ahead with confidence, while acknowledging the challenges of the current economic climate,” said Khaled Sifri, CEO of Emirates Investment Bank.