Page 11 - Al Tijarah - December 2020
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99 other global airline companies came   companies. Air Arabia's ranking in the   that allow us  to deliver additional
         after scoring highest average across  all   first place comes as a confirmation of   long-term value to our customers and
         variable  metrics that  the  report  took   the company's strong potential and firm   shareholders alike."
         into consideration.                commitment to operational excellence.
                                            Despite the diverse challenges of  the   The report, published by Airfinance,
         Adel Al Ali, Group Chief Executive   operational environment, particularly in   is  the clearest, most detailed and   49
         Officer, Air Arabia, said: "The Airfinance   the aviation sector, the multiple metrics   comprehensive  picture  of  airlines'
         report  is based  primarily  on  the   that have been evaluated have confirmed   financial and operational statements at
         operational and financial statements of   that we have comprehensive strengths   the market level.

                                   AED 353 million profit at

                           Sharjah Islamic Bank in 9 months                                                     SHARJAH ACTIVITIES

         Sharjah Islamic Bank achieved an increase                            the end of 2019.
         in its operating profits amounting to AED
         504.7  million, compared to  AED  465.7                              The  bank continued to diversify its
         million for the same period last year, with                          financing portfolio in different economic
         an increase of 8.4%, while net profit for                            sectors in accordance with its prudent
         the nine  months ended 30  September                                 credit policy that takes into consideration
         2020  amounted  to AED 353.4  million,                               the effects of the prevailing market
         compared to AED 415.4 million for the                                volatility and instability in the global
         nine-month ended 30  September 2019,                                 and regional capital market on banking
         a decrease  of 14.9% as a result of the                              operations. Clients financing reached AED
         increase in net provisions for impairment,                           29.5 billion, an increase of AED 4.4 billion
         which amounted to AED 151.3 million,                                 or 17.5% compared to AED 25.1 billion
         compared to AED 50.3 million from the                                last year.
         same period last year, an increase of AED
         101.1 million, equivalent to 201.1%.                                 The  Bank successfully  attracted more
                                                                              deposits  during  the same  period as
         The balance sheet  reflects the  Bank’s                              customer deposits increased by 19.4% to
         total assets of AED 53.3 billion at the                              reach AED 32.6 billion compared to AED
         end of September 2020, growing by                                    27.3 billion at the yearend 31 December
         15% compared to AED 46.4 billion at                                  2019.

                        Dana Gas sells its onshore assets in

                                       Egypt to IBR Energy

         Dana Gas announced that it has                                       IBR is a private company in Egypt's gas
         entered into a binding agreement                                     exploration  and  production  sector,
         with the “IBR” Al Wastani Petroleum                                  with 9 concession areas and more
         Company, a subsidiary of the “IBR”                                   than three decades of experience in
         Energy Group, to sell its onshore oil                                enhancing oil and gas extraction levels
         and gas-producing assets in Egypt for                                from mature producing fields.
         866 million dirhams ($ 236 million)
         including conditional future payments.                               The deal includes the sale of “Dana Gas”
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