Emirates Islamic delivered its highest ever net profit of AED 1.24 billion in 2022, marking a significant 51% increase compared to 2021. The bank reported a 36% increase in operating profit, coupled with an improvement in cost of risk compared to the previous year.
Emirates Islamic has again reaffirmed its position as a leading financial institution in the UAE as evidenced by our strong financial performance. We are delighted to announce a strong set of financial results with Emirates Islamic delivering a net profit of AED 823 million for 2021.
In 2020 Emirates Islamic played its part in supporting customers and the economy by providing financial assistance as well as actively participating in community initiatives. Despite challenging market condition due to low profit rate environment coupled with global pandemic, Emirates Islamic continued to maintain healthy liquidity and capital, demonstrating our resiliency in navigating through the crisis.
Emirates Islamic further cemented its position as a leading financial institution in the UAE in 2018 by playing an
instrumental role in the development of the overall Islamic finance sector. We delivered strong results for the year,
demonstrated with a 32% increase in net profit to AED 924 million.
In 2017, Emirates Islamic continued to assert its position as a leading financial institution in the UAE, making a
solid contribution to the development of the overall Islamic finance sector. We delivered strong results for the year,
demonstrated with a six-fold increase in net profit to AED 702 million.
Despite global and regional economic challenges, Emirates Islamic reported robust growth, with a year on year increase in total
income. The Bank continued to deliver on its commitment of a customer-first experience, resulting in a 5 per cent increase in
deposits and a greater demand for our product and service offerings with total assets increasing by 11 per cent.
At Emirates Islamic, we are proud to be part of the nation's growth and have announced impressive results for 2014 - with net
profits reaching AED 364 million, a 161 per cent increase compared to 2013. The Bank's total net income (net of customer's share
of profit) for 2014 rose to AED 1.95 billion, up 28 per cent from the same period last year.
2013 was another prosperous year for the UAE economy and the banking sector. Beside the strong growth of GDP
at 4%, we have seen the economy further diversify with a strong trade, tourism and logistics sector performance,
let alone the strong recovery in the real estate sector; all signaling the increased "healthy" outlook for the economy
overall and the banking sector in particular.
2012 has seen Emirates Islamic Bank grow its presence in the UAE to over
48 branches and over 100 ATMs and CDMs, to become the sixth largest bank in the country by footprint. Total income of the
bank has also seen a solid increase of over 15 percent to become AED 1,344 million.
Bank continued to implement its strategic plans in order to achieve its vision to be a leading Islamic financial services
institution with a core platform in retail banking and a strong commercial banking franchise.
The Bank continued in its conservative strategy put into effect in the year 2009, in order to overcome the adverse
effects of the global financial crisis which erupted in the last quarter of the year 2008, hitting several economic
sectors, in particular the real estate.
The turbulent times of 2008 continued in 2009 as the aftershock of the global financial crisis. As such,
"Survival of the Fittest" syndrome marked the shape of things to come. As expected, only Institutions
characterized by flexibility and the ability to adapt, and have the vision and efficiency were able to cope
with the winds of change and achieved profits in spite of all odds.
Islamic Bank achieved a profit growth of 68% and won several prestigious awards ranging from service excellence (Ethos), product innovation (Banker Middle East) to the
overall business management (Mohammed Bin Rashid Al Maktoum Business award) speaks volumes about the banks unique, institutionalized and enviable strengths .
The year 2007 saw Emirates Islamic Bank firmly establish itself as a leading player in the various lines of business
it operates in. The impact of the diligent implementation of the Bank's Vision and Mission clearly reflected in
the outstanding results (both Qualitative and Quantitative) achieved by the Bank, which could only be achieved
by a dynamic, business as well as a community development oriented organisation.