Emirates Islamic announces First Half 2020 Financial results

Emirates Islamic announced its financial results for the half year ending 30 June, 2020. The Bank reported a net profit of AED 12 million for the first half of 2020. The total income is of AED 1.1 billion, lower by 15% year-on-year. Funded Income margins are lower by 25 bps year-over-year due to lower profit rate environment. Total assets stand at AED 64.2 billion, decreased by 1% from end 2019. Customer accounts stand at AED 45 billion, broadly flat from end 2019, while current and savings accounts balance up 10% from end 2019.