Sharjah Islamic Bank (SIB) posted a net profit after tax of $218.9 million (AED803.9 million) for the first half of 2026, up 15.3 percent from $189.9 million (AED697.2 million) a year earlier.
Shareholders' equity increased by $708 million © Mena Today
Sharjah Islamic Bank (SIB) posted a net profit after tax of $218.9 million (AED803.9 million) for the first half of 2026, up 15.3 percent from $189.9 million (AED697.2 million) a year earlier.
The results were driven by balanced growth across the bank's business lines, revenue diversification, improved operating efficiency and a strengthened capital base.
Income from Islamic financing and sukuk investments rose 12.1 percent to around $571.8 million (AED2.1 billion), while total distributions to depositors and sukuk holders climbed to about $326.7 million (AED1.2 billion). Net fee, commission and other operating income grew 8.1 percent to $121.4 million (AED445.7 million).
Total operating income reached $381.2 million (AED1.4 billion), up 20.5 percent year-on-year, while net operating income before impairment provisions and tax rose 22.3 percent to $252.1 million (AED925.8 million). General and administrative expenses rose 17.2 percent to $129.4 million (AED475.2 million), reflecting continued investment in technology, staff and business expansion.
On asset quality, the non-performing financing ratio eased to 3.6 percent from 3.8 percent, with a provision coverage ratio of 107 percent.
Total assets grew 4.7 percent to $25.73 billion (AED94.5 billion), driven by an Islamic financing portfolio that expanded 9.5 percent to $13.59 billion (AED49.9 billion). Customer deposits rose 6.6 percent to $16.18 billion (AED59.4 billion), while liquid assets stood at $5.39 billion (AED19.8 billion), or 20.9 percent of total assets.
Shareholders' equity increased by $708 million (AED2.6 billion), supported by a capital raise through the issuance of 1.1 billion new shares. Return on Equity rose to 14.81 percent, and Return on Assets improved to 1.74 percent from 1.55 percent.
Saudi Arabia has decided to postpone its flagship investment conference until next year, organizers confirmed in a statement on Monday, following deadly attacks which rocked the kingdom in recent weeks as the Middle East conflict widens, disrupting business.
Organisers insist the Future Investment Initiative (FII) will open in Riyadh on October 26. After a week of Houthi attacks on the capital's airport, few expect it to.
Prolonged war in the Middle East and further disruptions to energy production, shipping routes or critical infrastructure pose the biggest risk to economies in the Middle East and Central Asia, the International Monetary Fund said on Thursday.
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