Monday 25 July 2011

Dubai's Noor Islamic posts $23.1m H1 net profit - Banking & Finance - ArabianBusiness.com

Dubai-based Noor Islamic Bank posted on Sunday net profit of AED85m ($23.1m) for the first half of the year, on a revenue base of AED386m.

The bank remained adequately capitalised with a capital adequacy ratio of 18.36 percent, Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, chairman, said in a statement.

'Our robust performance in the first half of this year is a direct result of the strategic initiatives and business model realignment that we have been undertaking within the bank over the past 18 months,' he said.

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