Dubai – Mubasher: Emirates Islamic Bank generated AED 2.81 billion in net profit after tax in 2024, up year-on-year (YoY) from AED 2.12 billion.
Total operating income stood at AED 5.36 billion last year, up 3% from AED 4.76 billion as of 31 December 2023, according to the consolidated financial statements.
Earnings per share (EPS) grew to AED 0.51 in 2024 from AED 0.39 a year earlier.
Total assets increased by 27%YoY to AED 111.12 billion at the end of December 2024 from AED 87.81 billion.
Customer deposits increased by 25% to AED 77 billion in 2024, with current and savings account balances at 70% of total deposits.
Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, commented: “We marked a significant milestone in our sustainable journey with the launch of our first ever five-year $750 million Sustainability Sukuk, reaffirming our commitment to sustainable Islamic financing.”
Al Qassim also highlighted the establishment of an “AED 1 billion endowment fund to support the education of millions around the world. We also humbly contributed over AED 37 million to a range of charitable initiatives in 2024 through the Emirates Islamic Charity Fund.”
As of 30 September 2024, the net profits jumped by 52% to AED 2.49 billion from AED 1.64 billion a year earlier.
