Abu Dhabi –  Bank of Sharjah turned profitable at AED 295.61 million in the first nine months (9M) of 2024, against net losses valued at AED 122.42 million in 9M-23.

Net operating income soared to AED 497.87 million as of 30 September 2024 from AED 326 million a year earlier, according to the financial results.

The basic and diluted earnings per share (EPS) amounted to AED 0.09 in the January-September 2024 period, against a loss per share of AED 0.04 in 9M-23.

Total assets rose by 3.20% to AED 40.72 billion at the end of September 2024 from AED 39.45 billion as of 31 December 2023. Meanwhile, the customers’ deposits increased by 4.50% to AED 27.52 billion from AED 26.34 billion.

Financial for Q3-24

In the third quarter (Q3) of 2024, the ADX-listed bank generated net profits valued at AED 124.64 million, compared to AED 21.45 million as of 30 September 2023.

The operating income climbed to AED 194.12 million in Q3-24 from AED 99.12 million in Q3-23, while the basic and diluted EPS hiked to AED 0.042 from AED 0.007.

During the first six months (6M) of 2024, Bank of Sharjah shifted to net profits valued at AED 170.97 million, versus net losses valued at AED 143.87 million in H1-23.

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