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Islamic Finance Briefing - Categorized | Banking, Performance more

Noor Islamic Bank profits recover in H1 2011

Posted on 25 July 2011

Operating profit of AED 207 million ($56.4 million) for H1 2011 shows recovery from operating loss of AED 9 million ($2.45 million) in H1 2010.
Noor Islamic Bank (NIB) showed revenue of AED 386 million ($105.1 million) in H1 2011 with net profit of AED 85 million ($23.14 million). HH Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Chairman of Noor Islamic Bank said, “Our robust performance in the first half of the year is a direct result of the strategic initiatives and business model realignment that we have been undertaking within the bank over the past 18 months. Our efforts to focus our expertise on niche business opportunities are reflected in our earnings momentum……………………………………….Full Article: Source

 
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