Sharjah, April 13, 2026 — Sharjah Islamic Bank (SIB) reported a strong financial performance for the first quarter of 2026, with net profit after tax reaching AED 380.7 million, marking a 19.4% increase compared to AED 318.9 million in the same period last year. The results reflect the bank’s resilience and ability to sustain growth despite evolving economic conditions across regional markets.
Income from investments in Islamic financing and Sukuk recorded notable growth, rising by 14.4% to approximately AED 1.05 billion, compared to AED 914.3 million in Q1 2025. At the same time, total profit distributions to depositors and Sukuk holders increased to AED 581.7 million, up from AED 546.9 million a year earlier, highlighting the bank’s consistent returns to stakeholders.
The bank continued to diversify its income streams, with net fee and commission income along with other operating income increasing by 9.3% to AED 179.7 million. This growth contributed to a significant rise in total operating income, which reached AED 644.1 million, up 21.1% compared to AED 531.7 million in the same period last year.
Operating expenses also increased, with total general and administrative costs reaching AED 233.8 million, a rise of 17.9% year-on-year. This was mainly driven by continued investments in talent development and technological infrastructure. Despite higher costs, net operating income before impairment provisions grew by 23.1% to AED 410.3 million, reflecting strong operational efficiency and disciplined cost management.
In terms of asset quality, the bank reported impairment provisions of AED 30.5 million, while recoveries stood at AED 39.2 million. This indicates improved credit quality and effective risk management. The non-performing financing ratio remained stable at 3.8%, while the coverage ratio stood at 107%, underscoring the bank’s prudent approach to maintaining a healthy financing portfolio.
Sharjah Islamic Bank’s balance sheet remained solid, with total assets stable at AED 90.9 billion, reflecting a modest 1% increase compared to the end of 2025. Investments in Islamic financing grew to AED 46.8 billion, up from AED 45.6 billion, while customer deposits rose significantly by 10.3% to AED 61.4 billion. This helped improve the financing-to-deposit ratio to 76%, compared to 82% at year-end.
The bank maintained a strong liquidity position, with liquidity accounting for 21.8% of total assets, equivalent to AED 19.8 billion. Profitability indicators also improved, with return on assets (ROA) reaching 1.68% and return on equity (ROE) rising to 16.27%, compared to 1.55% and 14.78%, respectively, in the previous year.
Looking ahead, Sharjah Islamic Bank aims to continue executing its growth strategy while maintaining high standards of governance and innovation. The bank remains focused on delivering sustainable growth and strengthening its competitive position in the UAE and the wider regional financial markets.