Abu Dhabi – Mubasher: Sharjah Group recorded a 20% year-on-year decline in net profit during the first six months of 2018, recording AED 2.4 million.
This decline can be traced back to a 6% decrease in lease revenue, which reached AED 7.2 million in H1-18 versus AED 7.7 million in the year-ago period, according to a company statement.
The bank’s administrative and general expenses increased 11% year-on-year to AED 3.1 million from January to the end of June.
The Abu Dhabi-listed group’s net profit increased to AED 1.13 million in the second quarter of 2018, compared to AED 1.41 million a year earlier.
