Emirates Islamic achieved its highest profit ever in 9 months, as profits increased by 56% to reach AED 1.65 billion during the first nine months of 2023.
The increase in profits was driven by higher funded and unfunded income, reflecting the improvement of the booming business landscape. Income for the third quarter of 2023 grew by 46% compared to the same period of the previous year to reach AED 1.2 billion, which was the driving force for profit growth by 23% to reach AED 435 million, reflecting the prosperity of the regional economy. Emirates Islamic is proud to play a key role in the economic and commercial development of the UAE. In recognition of these efforts, Emirates Islamic was awarded “the most innovative Islamic Bank in the UAE” and”the Best Islamic Bank for SMEs in the UAE” at the Global Finance Awards 2023, highlighting its focus on innovative customer-based approach and user-friendly business banking solutions designed to meet the requirements of SMEs.
