Sharjah Islamic Bank (SIB) has reported a 50 per cent jump in net profits to Dh301.8 million ($82.17m) last year.

Total assets increased by 42 per cent to Dh10.9 billion, customer's financing receivables increased by 44 per cent to Dh6.5 billion and customer deposits increased by 58 per cent to Dh7 billion, reported Gulf News.

These results was approved during the board of directors' meeting.

The board agreed to propose increasing paid-up capital by 100 per cent to reach Dh2.2 billion.

CEO Mohammad Abdullah said the bank achieved a record growth this year in retail, corporate and investment portfolios.

The bank had given a special attention to its employees, he said, as 'we considered it of the main support factors of our growth'.