Profit increases over 2016 for EIB



Emirates Investment Bank, the Dubai-based private lender, yesterday said that its net profit for 2016 rose 20.5 per cent amid gains in assets under management and revenues from the investment banking division.

Net profit rose to Dh33.8m in 2016 compared to Dh28.1m in 2015, the bank said. Total assets under the bank’s management rose 21 per cent in 2016 to Dh11.63 billion from Dh9.61bn. Meanwhile, customer deposits rose 8.2 per cent to Dh3.43bn from Dh3.17bn in 2015.

“In the face of volatile markets and a challenging economic environment, we have seen solid growth in net profit, assets under management and customer deposits,” said Khaled Sifri, the bank’s chief executive.

“We have continued to expand our range of private banking services, which has allowed us to welcome new clients while also strengthening existing relationships.”

The executive said that the bank’s investment banking division had a particularly successful year after managing four merger and acquisitions in the healthcare and education sectors that were not named.

Looking forward to the rest of the year, Mr. Sifri expressed optimism while acknowledging the challenges of the current economic climate that has been fogged by low oil prices.

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Earnings reports

ADIB fourth-quarter profit lower on bad debt provisioning

Aldar fourth-quarter profit dips 1 per cent amid 'softer operating market'

Quarterly profit slips 9% for Amanat Holdings

Arkan Building Materials annual profit declines 25%

Damac Properties' fourth-quarter net profit rises 1.3%

Drake & Scull's 2016 net loss narrows to Dh787 million

Du fails to offset royalty payment rise as profit falls

Emaar Properties fourth-quarter net profit up 56%

Etisalat profit edges up on growing UAE revenue

Manazel Real Estate profit rises 16% in second half

Marka will continue with cost-cutting after second straight annual loss

Union National Bank's fourth-quarter profit rises 29%, missing forecasts

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mkassem@thenational.ae

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Healthy tips to remember

Here, Dr Mohamed El Abiary, paediatric consultant at Al Zahra Hospital Dubai, shares some advice for parents whose children are fasting during the holy month of Ramadan:

Gradual fasting and golden points - For children under the age of 10, follow a step-by-step approach to fasting and don't push them beyond their limits. Start with a few hours fasting a day and increase it to a half fast and full fast when the child is ready. Every individual's ability varies as per the age and personal readiness. You could introduce a points system that awards the child and offers them encouragement when they make progress with the amount of hours they fast

Why fast? - Explain to your child why they are fasting. By shedding light on the importance of abstaining from food and drink, children may feel more encouraged to give it there all during the observance period. It is also a good opportunity to teach children about controlling urges, doing good for others and instilling healthy food habits

Sleep and suhoor - A child needs adequate sleep every night - at least eight hours. Make sure to set a routine early bedtime so he/she has sufficient time to wake up for suhoor, which is an essential meal at the beginning of the day

Good diet - Nutritious food is crucial to ensuring a healthy Ramadan for children. They must refrain from eating too much junk food as well as canned goods and snacks and drinks high in sugar. Foods that are rich in nutrients, vitamins and proteins, like fruits, fresh meats and vegetables, make for a good balanced diet

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