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Emirates Islamic Bank incurred losses of 143 million dirhams during the second quarter of this year, compared to profits of 261 million dirhams in the same quarter of 2019.
According to CNBC Arabia, the bank’s net profit for the first half of 2020 decreased by 98% year on year to reach 11.8 million dirhams.
These losses are due in the second quarter of 2020 to the increase in provisions with the bank by about 183% on an annual basis, recording 384 million dirhams.
(Amazon fun of knowledge)
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