#Sharjah Islamic Bank eyes double-digit loan growth, up to $500 mln bonds - Reuters

Sharjah Islamic Bank eyes double-digit loan growth, up to $500 mln bonds - Reuters:

Sharjah Islamic Bank (SIB), which will conclude in London on Monday a series of investor meetings ahead of an Islamic dollar bond sale, is targeting double-digit loan growth this year, a bank’s executive told Reuters.

The lender is looking to raise up to $500 million with its planned debt sale, which will boost its Tier 1 core capital and total capital ratios, said Ahmed Saad, deputy chief executive.

“At present, the SIB’s core capital … is not only strong but is way above the Central Bank of the UAE’s requirements. We are looking to strengthen our capital for future growth opportunities.”