Sharjah Islamic Bank Reports Net Profit of AED 804 Million, Up 15.3%, for the first half of 2026 while Strengthening its Capital Base

Abu Dhabi, 8 July 2026: Environment Agency - Abu Dhabi (EAD) has completed a landmark multi-year oyster bed mapping survey, delivering the most comprehensive scientific understanding to date of oyster bed

Sharjah, UAE – 13 July 2026: Sharjah Islamic Bank (SIB) continued to deliver strong financial and operational performance during the first half of 2026, supported by balanced growth across its core business activities, successful revenue diversification, enhanced operating efficiency, and a strengthened capital base that supports the execution of its expansion strategy and reinforces its ability to sustain long-term growth.

Net profit after tax reached AED 803.9 million for the first half of 2026, compared to AED 697.2 million during the corresponding period of 2025, representing a growth of 15.3%. This performance reflects the strength of the Bank’s business model and its ability to consistently deliver sustainable results.

Income from investments in Islamic financing and sukuk increased by 12.1% to approximately AED 2.1 billion by the end of the first half of 2026, compared to AED 1.9 billion during the same period last year, an increase of AED 227.6 million. Meanwhile, total distributions to depositors and sukuk holders rose to approximately AED 1.2 billion, compared to AED 1.1 billion during the first half of 2025, reflecting growth in customer deposits and the Bank’s ability to generate sustainable returns while maintaining a balanced funding profile.

The Bank also continued to diversify its income streams, with net fee and commission income and other operating income increasing by 8.1% to AED 445.7 million, compared to AED 412.4 million during the same period last year.

As a result, total operating income increased to AED 1.4 billion, representing an increase of AED 238.5 million, or 20.5%, compared to the first half of 2025. This reflects the success of the Bank’s strategy in achieving balanced growth across financing, investment, and banking services while increasing the contribution of non-financing income to total operating revenue.

As part of its ongoing commitment to investing in human capital, enhancing its technology infrastructure, strengthening operational systems, and supporting business development in line with its expansion strategy while further improving customer experience, total general and administrative expenses amounted to AED 475.2 million during the first half of 2026, compared to AED 405.4 million during the corresponding period last year, representing an increase of 17.2%.

Consequently, net operating income before impairment provisions and tax increased to AED 925.8 million, compared to AED 757.2 million during the first half of 2025, recording a growth of 22.3%. This demonstrates the Bank’s ability to achieve high operational efficiency while continuing to invest in the key drivers of future growth.

With regard to asset quality, impairment provisions for financial assets amounted to AED 79.2 million, while recoveries reached AED 37.9 million by the end of the first half of 2026, compared to impairment provisions of AED 60.9 million and recoveries of AED 70.2 million during the corresponding period last year. The non-performing financing ratio improved to 3.6%, compared to 3.8% at the end of 2025, while the provision coverage ratio stood at 107%, compared to 109% at year-end 2025. These indicators reflect the Bank’s prudent credit policy, effective risk management practices, and its continued commitment to maintaining a strong financial position.

On the balance sheet front, Sharjah Islamic Bank maintained balanced growth across its business operations. Total assets increased to AED 94.5 billion at the end of the first half of 2026, compared to AED 90.3 billion at the end of 2025, representing an increase of AED 4.2 billion, or 4.7%.

This growth was primarily driven by the continued expansion of the Bank’s Islamic financing portfolio, which reached AED 49.9 billion, compared to AED 45.6 billion at the end of the previous year, representing a growth of 9.5%. This reflects the sustained demand for the Bank’s Shariah-compliant financing solutions and customers' continued confidence in its products and services.

Customer deposits also recorded healthy growth, increasing to AED 59.4 billion, compared to AED 55.7 billion at the end of 2025, representing a growth of 6.6%. This underscores the strength of the Bank’s customer franchise and its continued ability to attract deposits and expand its stable funding base. The financing-to-customer deposits ratio stood at 84%, compared to 82% at the end of the previous year, reflecting the efficient utilization of liquidity while maintaining comfortable levels of capital adequacy and liquidity.

The Bank also maintained a strong liquidity position, with liquid assets amounting to AED 19.8 billion, representing 20.9% of total assets, compared to 22.3% at the end of 2025. This reflects the Bank’s balanced liquidity management approach, ensuring sufficient liquidity to support business growth while preserving financial strength.

Shareholders’ equity increased by AED 2.6 billion, supported by the successful completion of the Bank’s capital increase through the right issuance of 1.1 billion new shares at a nominal value of AED 1 per share, together with a share premium of AED 1.4 per share.

This capital enhancement forms part of the Bank’s long-term strategy to strengthen its capital base, increase its capacity to finance future expansion plans, and capitalize on attractive investment opportunities, thereby supporting the achievement of its strategic objectives while enhancing financial resilience and sustainable growth prospects over the coming years.

These results further demonstrate the Bank’s ability to generate sustainable returns for shareholders through the efficient utilization of resources and enhanced capital efficiency. Return on Equity (ROE) improved to 14.81%, compared to 14.78% during the previous year, while Return on Assets (ROA) increased to 1.74%, compared to 1.55%.

Sharjah, UAE – 13 July 2026: Sharjah Islamic Bank (SIB) continued to deliver strong financial and operational performance during the first half of 2026, supported by balanced growth across its core business activities, successful revenue diversification, enhanced operating efficiency, and a strengthened capital base that supports the execution of its expansion strategy and reinforces its ability to sustain long-term growth.

Net profit after tax reached AED 803.9 million for the first half of 2026, compared to AED 697.2 million during the corresponding period of 2025, representing a growth of 15.3%. This performance reflects the strength of the Bank’s business model and its ability to consistently deliver sustainable results.

Income from investments in Islamic financing and sukuk increased by 12.1% to approximately AED 2.1 billion by the end of the first half of 2026, compared to AED 1.9 billion during the same period last year, an increase of AED 227.6 million. Meanwhile, total distributions to depositors and sukuk holders rose to approximately AED 1.2 billion, compared to AED 1.1 billion during the first half of 2025, reflecting growth in customer deposits and the Bank’s ability to generate sustainable returns while maintaining a balanced funding profile.

The Bank also continued to diversify its income streams, with net fee and commission income and other operating income increasing by 8.1% to AED 445.7 million, compared to AED 412.4 million during the same period last year.

As a result, total operating income increased to AED 1.4 billion, representing an increase of AED 238.5 million, or 20.5%, compared to the first half of 2025. This reflects the success of the Bank’s strategy in achieving balanced growth across financing, investment, and banking services while increasing the contribution of non-financing income to total operating revenue.

As part of its ongoing commitment to investing in human capital, enhancing its technology infrastructure, strengthening operational systems, and supporting business development in line with its expansion strategy while further improving customer experience, total general and administrative expenses amounted to AED 475.2 million during the first half of 2026, compared to AED 405.4 million during the corresponding period last year, representing an increase of 17.2%.

Consequently, net operating income before impairment provisions and tax increased to AED 925.8 million, compared to AED 757.2 million during the first half of 2025, recording a growth of 22.3%. This demonstrates the Bank’s ability to achieve high operational efficiency while continuing to invest in the key drivers of future growth.

With regard to asset quality, impairment provisions for financial assets amounted to AED 79.2 million, while recoveries reached AED 37.9 million by the end of the first half of 2026, compared to impairment provisions of AED 60.9 million and recoveries of AED 70.2 million during the corresponding period last year. The non-performing financing ratio improved to 3.6%, compared to 3.8% at the end of 2025, while the provision coverage ratio stood at 107%, compared to 109% at year-end 2025. These indicators reflect the Bank’s prudent credit policy, effective risk management practices, and its continued commitment to maintaining a strong financial position.

On the balance sheet front, Sharjah Islamic Bank maintained balanced growth across its business operations. Total assets increased to AED 94.5 billion at the end of the first half of 2026, compared to AED 90.3 billion at the end of 2025, representing an increase of AED 4.2 billion, or 4.7%.

This growth was primarily driven by the continued expansion of the Bank’s Islamic financing portfolio, which reached AED 49.9 billion, compared to AED 45.6 billion at the end of the previous year, representing a growth of 9.5%. This reflects the sustained demand for the Bank’s Shariah-compliant financing solutions and customers' continued confidence in its products and services.

Customer deposits also recorded healthy growth, increasing to AED 59.4 billion, compared to AED 55.7 billion at the end of 2025, representing a growth of 6.6%. This underscores the strength of the Bank’s customer franchise and its continued ability to attract deposits and expand its stable funding base. The financing-to-customer deposits ratio stood at 84%, compared to 82% at the end of the previous year, reflecting the efficient utilization of liquidity while maintaining comfortable levels of capital adequacy and liquidity.

The Bank also maintained a strong liquidity position, with liquid assets amounting to AED 19.8 billion, representing 20.9% of total assets, compared to 22.3% at the end of 2025. This reflects the Bank’s balanced liquidity management approach, ensuring sufficient liquidity to support business growth while preserving financial strength.

Shareholders’ equity increased by AED 2.6 billion, supported by the successful completion of the Bank’s capital increase through the right issuance of 1.1 billion new shares at a nominal value of AED 1 per share, together with a share premium of AED 1.4 per share.

This capital enhancement forms part of the Bank’s long-term strategy to strengthen its capital base, increase its capacity to finance future expansion plans, and capitalize on attractive investment opportunities, thereby supporting the achievement of its strategic objectives while enhancing financial resilience and sustainable growth prospects over the coming years.

These results further demonstrate the Bank’s ability to generate sustainable returns for shareholders through the efficient utilization of resources and enhanced capital efficiency. Return on Equity (ROE) improved to 14.81%, compared to 14.78% during the previous year, while Return on Assets (ROA) increased to 1.74%, compared to 1.55%.

distribution across the emirate’s marine waters.

With survey design established in 2022 and fieldwork carried out from 2023 to the end of 2025, the project reflects EAD’s continued commitment to advancing science-led environmental governance and strengthening Abu Dhabi’s position as a leader in marine environmental governance in the region. By combining historical knowledge with advanced scientific methodologies, the initiative has established a robust baseline for one of the UAE’s most culturally and ecologically significant marine habitats.

This project was developed following EAD’s prior deep-water survey (2021), which identified marine areas of significant ecological potential and, in doing so, revealed the unexpected presence of oyster beds across Abu Dhabi’s waters. Building on those findings, EAD designed a dedicated oyster bed survey in 2022 to systematically map these habitats at scale.

The survey drew on five data sources established during the 2022 design phase: findings from the 2021 Deep Water Survey; historical pearl diver maps from the 1960s and 1970s; Hawksbill turtle tracking data, as these endangered turtles are known to congregate around oyster beds, making them a natural indicator of habitat presence; oyster rehabilitation sites; and knowledge gathered from experienced local community members.

From 335 initial target points, field teams expanded outward in all directions until oyster presence could no longer be confirmed, using underwater drop cameras and a real-time mobile data collection application connected directly to EAD’s database. This approach ensured that the boundaries of every oyster bed were systematically defined rather than assumed, producing what is now the most rigorously validated map of oyster bed distribution in the region.

Building on generations of local knowledge, the project also drew on the maritime heritage of Abu Dhabi’s coastal communities. Historical maps drawn from pearl divers’ firsthand knowledge were overlaid with modern survey data, satellite tracking, and field observations. This bridged centuries of inherited understanding with cutting-edge science. EAD’s latest findings confirm that oyster beds are far more extensive than previously recorded.

Through an extensive field survey covering approximately 12,000 kilometres, EAD assessed 1,088 locations across Abu Dhabi’s waters, of which 334 confirmed the presence of oyster bed. Together, these sites cover a total area of approximately 3,314 square kilometres, equivalent to around 7 per cent of the emirate’s marine environment.

Her Excellency Dr Shaikha Salem Al Dhaheri, Secretary General of the Environment Agency - Abu Dhabi, said: “This milestone reflects Abu Dhabi’s deep-rooted connection to its marine environment, shaped over generations through one of the world's greatest pearling traditions, a heritage that placed these very waters at the centre of regional trade and identity for centuries. Guided by the vision of the late Sheikh Zayed bin Sultan Al Nahyan, we continue to build on this legacy through a science-led approach that strengthens our understanding of the emirate’s natural assets. These findings highlight the richness of our marine ecosystems and reinforce our responsibility to protect and sustain them for future generations, in line with Abu Dhabi’s commitment to Net Zero by 2050.”

Oyster beds play a vital role in supporting marine biodiversity, providing habitat and feeding grounds for a wide range of species across the marine food chain. As natural ecosystem engineers, oysters contribute to the overall health and resilience of marine environments. EAD teams observed a direct correlation between oyster bed locations and large concentrations of fish, as well as whale sightings in surrounding waters, confirming their role as a keystone habitat anchoring the wider marine ecosystem.

Beyond their ecological function, oysters are significant contributors to carbon storage. As oysters grow, they draw dissolved carbon from the surrounding seawater to produce calcium carbonate, the mineral that forms their shells. This biological process effectively binds carbon within marine systems over time, giving oyster beds an important role in the UAE’s broader environmental ambitions and its pathway to Net Zero by 2050.

For generations, coastal communities in Abu Dhabi have understood these waters in a deeply intuitive way, developing knowledge of where oyster beds exist and how marine life interacts with them. This project has built on that foundation and validated it at scale through scientific methods. By combining field surveys with advanced data analysis, EAD has confirmed not only the presence of these habitats, but their true extent and density across Abu Dhabi’s waters, affirming just how rich and interconnected these marine ecosystems are.

These findings establish a critical scientific baseline for the long-term management and protection of Abu Dhabi’s marine environment. Looking ahead, EAD will advance targeted monitoring programmes, pursue the designation of new marine protected areas based on the survey’s findings, and ensure these critical habitats are safeguarded for generations to come. As the emirate continues to deepen its understanding of its marine ecosystems, this project stands as a testament to what becomes possible when traditional knowledge, scientific rigour, and long-term commitment come together.