Emirates Islamic, an Islamic bank in the UAE, reported that in 2024, profit before tax reached a record AED3.1 billion, a 46 percent increase over the previous year.
According to
Amac News: The bank also announced that net profit reached a record high of AED2.8 billion, a 32 percent increase.
Total revenue increased by 13 percent to AED5.4 billion, while assets grew by 27 percent to AED111 billion.
Customer financing increased by a significant 31 percent to AED 71 billion and customer deposits by a healthy 25 percent to AED77 billion in 2024.
Hisham Abdullah Al Qassim, Chairman of the Board of Directors of Emirates Islamic, said that the bank consolidated its position as the fastest growing Islamic bank in the UAE in 2024.
Emirates Islamic Bank CEO Farid Al Mulla also said that the bank exceeded all expectations and recorded its highest ever profit in 2024. He attributed this success to strong growth in both secured and unsecured income, which led to healthy net profit margins and low cost of risk.
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