ABU DHABI (ALETIHAD)
Emirates Islamic recorded a net profit of Dh1.7 billion for the first half of 2026, supported by growth in funded and non-funded income, continued asset expansion and disciplined cost management.
Operating profit increased 10% year on year to Dh2.2 billion, while total income rose 8%. Expenses increased 3%, reflecting continued strategic investments to support growth, the bank said in a statement on Thursday.
The bank reported impairment allowance charges of Dh251 million and a net profit margin of 3.1%.
Total assets increased 5.5% during the first six months of the year to Dh153.8 billion. Customer financing grew 9.1% to Dh97 billion, while customer deposits rose 8.3% to Dh110.6 billion.
Current and savings account balances represented 65% of total deposits, while the headline financing-to-deposit ratio stood at 88%, within the management’s target range.
The non-performing financing ratio stood at 2.5% at the end of the reporting period, while the coverage ratio was 157.5%.
Emirates Islamic reported a Common Equity Tier 1 ratio of 14.8% and a capital adequacy ratio of 15.9%, reflecting what the bank described as a strong and stable capital position.
Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, said the first-half results reflected the strength of the UAE economy, with income and operating profit registering annual growth.
“Guided by the principles of Islamic finance, Emirates Islamic remains committed to supporting the nation’s economic ambitions and delivering sustainable, long-term value for our customers, businesses and communities,” Al Qassim said.
He said the bank launched the UAE’s first Shariah-compliant Certificate of Deposit Programme to diversify investment opportunities, strengthen its funding base and expand its international reach.
The bank also completed several environmental, social and governance-linked financing facilities during the first half, reinforcing its focus on sustainable finance, he added.
Farid AlMulla, Chief Executive Officer of Emirates Islamic, said the bank maintained a strong growth trajectory during the period, with its capital, liquidity and diversified funding base supporting the expansion of customer financing and deposits.
“The quality of our funding franchise remains a key strength, with CASA balances accounting for 65% of total deposits, reflecting deep customer relationships, strong trust and our market-leading digital proposition,” AlMulla said.
He also highlighted the bank’s launch of digital gold and silver investments through its EI+ mobile application, which provides customers with access to Shariah-compliant wealth-diversification products.
Mohammad Kamran Wajid, Deputy Chief Executive Officer of Emirates Islamic, said the bank introduced Shariah-compliant commodity-hedging services, including profit-rate hedging and foreign-exchange options, to help corporate customers manage price volatility, mitigate risks and protect cash flows.
“Looking ahead, we remain well-positioned for sustainable growth, leveraging our strong financial fundamentals to expand our leadership in Islamic banking, enhance customer experiences and create long-term value for customers, shareholders and the wider community,” Wajid said.