Emirates Investment Bank, an independent Dubai-based private investment bank, has reported Dh12.3 million ($3.3 million) net profit in the second quarter of 2013, up 48 per cent as compared to Q2 last year.

It said the bank's net profit in the first half was of Dh27.7 million, up by 28 per cent from the same period last year.

Customer deposits increased to Dh1.11 billion, up by 38 per cent from December 2012.

Total assets grew to Dh2.2 billion, up by 21 per cent from December 2012.

Khaled Sifri, CEO, said: “We have seen a significant increase in customer deposits and assets. From the investment banking side, we are currently advising a number of our clients on acquisitions across the region and expect to finalise these within the next 6 months." - TradeArabia News Service