SIB assets cross $25 billion as profits surge in H1 2026

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.