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Islamic Finance Briefing - Categorized | Banking, Performance more

Unicorn Investment Bank announces 2008 net profit of US$35 million

Posted on 17 March 2009

From Albawaba.com: Unicorn Investment Bank announces a record 2008 operating profit of US$73.8 million before impairments and fair value write-downs, an increase of 46% from US$50.4 million in 2007. Net profit after impairments and fair value write-downs was US$35.0 million. Earnings per share were 18.7 US cents.

The results are the culmination of a strong year for Unicorn, in which the Bank also further strengthened its capital and funding base. In January, the Bank successfully closed a 3-year syndicated commodity Murabaha facility that was significantly oversubscribed, raising US$125 million. Despite the global financial crisis, Unicorn also successfully raised new capital through an international private placement….. Full Article: Source

 
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