Sharjah Islamic Bank reports AED 1.1 billion net profit in first nine months of 2025, marking a 24% year-on-year growth.
SHARJAH: Sharjah Islamic Bank (SIB) has reported a strong financial performance for the first nine months of 2025, achieving a net profit after tax of AED 1.1 billion — a 24% increase from AED 891.3 million in the same period last year. Notably, this profit already exceeds the Bank’s total net income for the full year of 2024, which stood at AED 1.05 billion.
SIB’s core income saw robust growth, with income from Islamic financing and sukuk reaching AED 2.9 billion, up 5.8% year-on-year. Distributions to depositors and sukuk holders also rose to AED 1.7 billion, reinforcing the bank’s commitment to fair and Sharia-compliant profit-sharing models.
CEO statements highlighted the bank’s disciplined risk management and balanced growth strategy as key drivers behind this performance. Net fee and commission income surged by 67.5% to AED 486.9 million, while total operating income rose to AED 1.8 billion, reflecting SIB’s successful diversification of revenue streams.
Operating expenses increased to AED 619 million, driven by continued investment in technology, talent, and infrastructure. However, net operating income before impairment still grew 13.4% to AED 1.2 billion, showcasing strong cost management and operational efficiency.
A major factor contributing to the improved profitability was the sharp drop in impairment provisions — down to AED 11.9 million from AED 100.6 million a year ago — due to successful recoveries and enhanced credit risk oversight.
Total assets climbed to AED 86.6 billion, up 9.3% from year-end 2024, while Islamic financing investments rose by 14.7% to AED 43.7 billion. Customer deposits reached AED 54.6 billion, and the financing-to-deposit ratio improved to 80%.
SIB maintained a solid liquidity ratio of 21%, with return on assets and equity improving to 1.78% and 17.03%, respectively — reflecting the bank’s strong financial resilience and continued momentum.
