SHARJAH, 22nd October, 2014 (WAM) -- Sharjah Islamic Bank announced its 2014 nine month results with net profits up to AED295 million, compared to AED221 million achieved in the same period last year, a 33.5% growth rate.

Net customer facilities reached AED13.9 billion, rising by AED 1.4 billion, a 11.3% increase since December 2013 and customer deposits reached AED14.2 billion, rising by AED 2.2 billion or 18.9% growth since December 2013.

Total Assets reached AED 24.4 billion, growing by 12.4% since December 2013. Liquid assets reached AED5.7 billion, or 23.4% of the total assets, compared to AED5.1 billion or 23.6% at the end of 2013.

SIB shareholder’s equity of 4.6 billion represents 18.6 percent of the total balance sheet footing, maintaining a strong capital adequacy ratio of 25.3% by the end of September, reflecting the bank’s strong capital base and strong financial position that enables the bank to achieve its strategic objectives.