Sharjah Islamic Bank PJSC (ADX:SIB) First Quarter 2024 Results
Key Financial Results
Revenue: د.إ459.8m (up 18% from 1Q 2023). Net income: د.إ259.7m (up 11% from 1Q 2023). Profit margin: 56% (down from 60% in 1Q 2023). The decrease in margin was driven by higher expenses. EPS: د.إ0.07. ADX:SIB Earnings and Revenue Growth April 24th 2024
All figures shown in the chart above are for the trailing 12 month (TTM) period
Sharjah Islamic Bank PJSC Earnings Insights
Looking ahead, revenue is forecast to grow 7.8% p.a. on average during the next 2 years, compared to a 5.6% growth forecast for the Banks industry in United Arab Emirates.
Performance of the Emirian Banks industry.
The company’s share price is broadly unchanged from a week ago.
Risk Analysis
We don’t want to rain on the parade too much, but we did also find 2 warning signs for Sharjah Islamic Bank PJSC (1 is a bit unpleasant!) that you need to be mindful of.
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