Sharjah Islamic Bank (SIB) has reported impressive financial results for the first nine months of 2025, achieving a net profit after tax of AED1.1 billion (approximately $299.5 million). This marks a 24% increase compared to AED891.3 million recorded during the same period in 2024. Remarkably, the profit earned in just nine months of this year has already surpassed the bank’s total net profit for the entire year of 2024, which stood at AED1.05 billion. According to a report by WAM news agency, this achievement highlights the bank’s strong operational performance and financial stability in a challenging economic environment.
The bank’s core income continued to grow steadily, with revenue from Islamic financing and sukuk investments increasing by AED158.3 million, or 5.8%, reaching AED2.9 billion for the first nine months of 2025. This compares to AED2.7 billion during the same period in the previous year. Total distributions to depositors and sukuk holders also rose to AED1.7 billion, up from AED1.6 billion in 2024. This growth reflects SIB’s ability to sustain net income while maintaining an equitable profit-sharing model that aligns with Islamic banking principles.
SIB noted that these results reaffirm its strong financial foundation and its prudent risk-management approach. The bank’s ability to generate consistent earnings, even amid economic pressures, demonstrates its long-term strategic vision and operational discipline.
Revenue diversification continues to be a key focus for SIB, as evidenced by the sharp increase in net fee and commission income. The figure rose by an impressive 67.5%, reaching AED486.9 million in the first nine months of 2025, compared to AED290.7 million during the same period last year. As a result, the bank’s total operating income grew by 14.3% to AED1.8 billion, up from AED1.6 billion. This strong performance showcases the bank’s ability to maintain healthy growth across its income streams, driven by balanced execution and engagement across key economic sectors.
To support its ongoing business expansion and enhance customer experience, SIB has continued to invest in human resources, digital technology, and operational infrastructure. This is reflected in its general and administrative expenses, which increased by 16.2% to AED619 million, compared to AED532.8 million in 2024. Despite the rise in expenses, the bank maintained strong profitability, with net operating income before impairment provisions growing by 13.4% to AED1.2 billion, up from AED1.1 billion in the same period last year. This reflects the bank’s efficiency in managing operational costs while sustaining revenue growth.
One of the most notable improvements was in impairment provisions, which dropped significantly to AED11.9 million, compared to AED100.6 million in the first nine months of 2024. This decline is largely attributed to successful recoveries from legacy non-performing exposures and continued caution in credit risk assessment and management.
Overall, Sharjah Islamic Bank’s strong financial performance in the first three quarters of 2025 highlights its resilience, strategic foresight, and commitment to Shariah-compliant banking. Through prudent financial management, revenue diversification, and investment in future growth, the bank is well-positioned to maintain its upward trajectory in the evolving global financial landscape.