Profit for the period was AED655.4m ($178.5m) rising from AED489m in the same period last year.

Loans and advances rose by 34 per cent in the first half of the year, compared with the same period in 2007, to AED91bn. Deposits with the bank rose by 36 per cent during the same period to AED97bn. Assets rose by 33.5 per cent to AED128bn.

The bank also said that foreign exchange and derivative income rose by 227 per cent.