Bank of Sharjah posted a drop of nearly 13 per cent in net profit last year owing to lower non-interest income and a non-cash charge, the lender said.
Net profit declined to Dh250 million last year from Dh286m.
Non-interest income fell almost 10 per cent to Dh285m from Dh316m.
The bank also booked a net total non-cash charge of Dh297m.
It did not provide details of the charge, but in a statement yesterday it is described as a “net impairment loss on financial assets” and shows an increase of 24 per cent on 2014.
The bank’s capital adequacy ratio also fell to 21.13 per cent in 2015, from 22.26 per cent in 2014.
The lender is proposing no cash dividend for 2015 after distributing 3.4 per cent cash dividend and 4.98 per cent buyback of shares in 2014.
dalsaadi@thenational.ae
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Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full