| Islamic Bank of Britain (IBB), the UK’s only wholly Shari’ah-compliant retail bank, reported a loss of GBP 6.99 million for 2012, a GBP 2.01m improvement on 2011 (loss of GBP 9.00m). Operating expenses (excluding restructuring costs) reduced by GBP 0.9m to GBP 9.4m.
Total customer financing increased by 86 per cent to GBP 129m (GBP 69m in 2011) with HPP (home) financing increasing by 92 per cent to GBP 117m (GBP 61m in 2011). Retail deposits increased by 22 per cent to GBP 238m (GBP 195.2m in 2011); and as a result of the internet enhancements delivered in the year, 14 per cent of long term deposits raised in 2012 were sourced from the online channel (2011: nil)...............................................Full Article: Source
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