Sharjah:Sharjah Islamic Bank (SIB) has reported a net profit of AED 1.2 billion for the first nine months of 2026, marking a 9% increase from the AED 1.1 billion recorded during the same period in 2025. This growth is attributed to higher income from financing and investment activities, business expansion, and improved operating efficiency.
According to Emirates News Agency, the bank's income from Islamic financing and Sukuk investments rose by 11.7% to AED 3.2 billion by the end of the third quarter of 2026, compared to AED 2.9 billion in the previous year. The total distributions to depositors and Sukuk holders increased to AED 1.8 billion from AED 1.7 billion, reflecting the bank's expanding business base.
Despite a 4.1% decline in net fee and commission income to AED 662.2 million, total operating income grew by 13.6% to AED 2.1 billion. This was supported by growth across various banking businesses and reflects the bank's ability to broaden its revenue base.
The bank's general and administrative expenses rose by 17.4% to AED 726.6 million, driven by investments in human capital, digital infrastructure, and enhanced customer experiences. Nonetheless, the cost-to-income ratio improved to 34.7%, indicating that revenue growth outpaced the expansion of the cost base.
Net operating income before impairment allowances and tax increased by 11.6% to AED 1.4 billion. SIB's total assets grew by 10.4% to AED 100 billion, with significant contributions from the Islamic financing portfolio and customer deposits, which rose by 18.9% and 8.4%, respectively.
The bank's financing-to-customer-deposits ratio stood at 89.7%, while liquid assets amounted to AED 21.2 billion, maintaining strong liquidity levels. Shareholders' equity increased to AED 12.4 billion, supported by a capital increase through a rights issue, enhancing the bank's capital adequacy ratio to 19.37% by the end of the third quarter of 2026.