(MENAFN- Khaleej Times) Bank of Sharjah on Monday said its net profit for the first quarter of 2013 registered a 17 per cent increase to Dh70 million driven by the strength of its balance sheet and the soundness of its assets quality.
In a statement, the bank said it continued to strengthen the structure of its balance sheet and enhance its liquidity position in the first three months of 2013. As of March 31, 2013, total assets stood at Dh23.347 billion, an increase of nine per cent over the corresponding period figure's of Dh21.504 billion.
Ahmed Al Noman, chairman of Bank of Sharjah, expressed the satisfaction of the board with the results achieved during the first quarter of 2013 and said Dh12.5 million has been allocated over the coming five years to support Autism. The bank said its deposit base reached at Dh16.742 billion in first quarter.
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