Abu Dhabi – Mubasher: Abu Dhabi-listed Sharjah Islamic Bank announced on Tuesday that it will hold several meetings with fixed-income investors starting Thursday, 5 March in Asia and Europe to discuss a possible US-denominated Sukuk issuance.

The bank has assigned Abu Dhabi Islamic Bank (ADIB), Al Hilal Bank, Dubai Islamic Bank (DIB), Emirates NBD, HSBC, Kuwait Finance House (KFH) and Standard Chartered Bank as arrangers for the issuance.

Such issuances often do not fall below $500 million.

Sharjah Islamic Bank announced on Monday that the last day to take part in the distribution is March 8, while the dividends will be distributed on March 28. The ordinary general meeting (OGM) has approved a 10% cash dividend to shareholders, amounting to AED 0.10 per share and totaling AED 242.6 million.

The bank reported a net profit of AED 377.2 million ($102.693 million) in 2014 compared to AED 307.1 million ($83.61 million) in 2013, registering a profit increase by 23%. Moreover, financials for the fourth quarter of 2014 showed a net profit decline by 4.4% to AED 82.2 million against AED 86 million the same period the year before.

The bank’s capital amounts to AED 2.425 billion at par value AED 1 per share.