Sharjah Islamic Bank's Q1 2026 Net Profit Jumps 19.4% To Dh380.7M

2026-04-13 11:38:16

(MENAFN- Khaleej Times) Sharjah Islamic Bank (SIB) on Monday announced that its net profit after tax grew by 19.4 per cent to Dh380.7 million in the first quarter of 2026, compared to Dh318.9 million in the same period last year, driven by higher investment income.

Income from investments in Islamic financing and Sukuk rose by Dh131.8 million, or 14.4 per cent, to approximately Dh1.05 billion in Q1 2026, compared to Dh914.3 million a year earlier. Meanwhile, total profit distributions to depositors and Sukuk holders reached approximately Dh581.7 million, up from Dh546.9 million in the prior-year period.

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The bank continued to diversify its income streams, with net fee and commission income, along with other operating income, increasing by 9.3 per cent to Dh179.7 million in Q1 2026, compared to Dh164.4 million a year earlier. This supported a rise in total operating income to approximately Dh644.1 million, up Dh112.4 million, or 21.1 per cent, from Dh531.7 million in the same period last year.

These results underscore the strength of SIB's financial position and its prudent risk management approach, supporting consistent profitability and sustainable long-term value creation amid a challenging operating environment.

Total assets stood at Dh90.9 billion at the end of the first quarter, supported by growth in Islamic financing investments, which reached Dh46.8 billion, compared to Dh45.6 billion at the end of 2025, representing an increase of 2.6 per cent, the Shariah-compliant lender said in a statement on Monday.

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