Dubai, July 23rd, 2008 (WAM)--Salam Bank - Sudan registered a net profit of about US$9.849 million (AED36 million) in the first half of 2008, against US$4.743 million (about AED17 million) during the same period last year. "In spite of being a newly established bank on the Sudanese banking market, the bank has been able to make a giant leap in all areas of the finance sector during the first half of the current year," Hussein Mohammed Al-Meeza, said deputy chairman of Salam Bank - Sudan. He pointed out that the bank’s total assets jumped to US$467 million (about AED1.682 billion), representing an increase of US$68 million (AED245 million), up by 17.1% compared to its assets in December 2007, adding that the profit of the finance portfolio also appreciated to US$140.5 million (about AED506 million), representing an increase of US$60.90 million (AED252 million), up by 76.5% against what was recorded in December 2007. Al-Meeza noted that client’s deposit also surged to US$311.5 million (about AED1.121 billion), representing an increase of about US$77.2 million (AED278 million), up by 32.9%. The copyrights profit also rose to US$145.6 million (about AED424 million), up by 45.6% since it was set up on May 24, 2005. He said, "We are very happy with our achievements so far. The board of Salam Bank - Sudan remains committed to diversifying and expanding the scope of the bank’s investments by venturing into economic areas that are witnessing rapid growth. This is to minimize risk to the barest level, while, at the same time, achieving the best investment results with high yields for our shareholders and clients." Al Meeza indicated that "The enlisting of Salam Bank - Sudan on the Dubai Financial Market on June 5, 2008 has played a major role in achieving this great results in view of the flexibility in our transactions which enable investors and traders to access and trade in our shares easily, making good use of the huge liquidity available on the markets of the UAE and neighbouring Gulf countries." It’s worth noting here that Salam Bank - Sudan is one of the banks with the highest capital on the Khartoum Stock Market. It is also one of the biggest banks on the Sudanese banking market. The bank, which boasts modern and innovative products, was a product of cooperation between the UAE, other Gulf States and Sudan. It started operation on May 25, 2005 with a capital of about US$100 million.

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