UAE- Burj Bank posts Rs147m profit in H1 

(MENAFN - Khaleej Times) Burj Bank Limited (Burj) has announced its half yearly results for the period ended June 30. The bank's profit before tax is Rs147 million.
The announcement reflects a turnaround of Burj Bank with continuous earning for the first two quarters of 2012. The total deposits of the bank grew by 57 per cent to Rs32 billion in the first six months of 2012.

Addressing a gathering of corporate clients of the bank, Khaled Al Aboodi, chairman of Burj Bank congratulated the management team on the excellent half yearly performance and expressed the long term commitment with Burj Bank on behalf of all the directors. He said that "In the face of significant challenges, we have Alhamdulillah made remarkable progress".

Our bank, despite the political and economic hardships, continued its strategy of achieving growth in prudently selected quality earning avenues. I can confidently say that this is only the beginning as we gear ourselves towards reaching new horizons in Islamic banking."

Khaled Al Aboodi is the CEO of ICD which is the private sector arm of Islamic Development Bank Jeddah, and the largest shareholder of the bank.

On this occasion, Ahmed Khizer Khan, President and CEO of Burj Bank, acknowledged the chairman, the board of directors and the bank's customers for their continued support and trust. He said "Alhamdulilah, today Burj Bank is widely recognised as the fastest growing Islamic bank in Pakistan."

"With the support of our committed investors and the trust of our valued customers, our bank has become a symbol of prosperity, progress and success in a short span of time.

"Our vision is to become the Islamic Bank of Choice and I have faith in my team's capability to achieve this customer centric vision very soon."