309 million dirhams net operating profit for “Bank of Sharjah” during 2020

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“Bank of Sharjah PJSC” contract (listed on the Abu Dhabi Securities Exchange with the symbolFOREST) (the bank or group), one of the leading commercial banks in the United Arab Emirates, held on 3 June 2021 the virtual annual general meeting of all shareholders.During the meeting, the bank reviewed its strong performance for the fiscal year 2020, during which it succeeded in maintaining the value of its basic profits despite the challenges posed by the global “Covid-19” pandemic and the hyperinflation that affected its Lebanese branch.

Net shareholders’ equity increased to AED 3.165 billion, compared to AED 3.018 billion in the fiscal year 2019, which reflects the bank’s continued achievement of value for investors.

This increase in the value of shareholders’ equity is due to the net operating profit of the bank in the United Arab Emirates, which amounted to 309 million dirhams, and the consolidated net profit of the group (before the exceptional non-cash adjustments related to the bank’s branch in Lebanon, “Emirates and Lebanon Bank s.a.l.” (Bank), which amounted to 176 million dirhams.







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