Bank posted Dh362 million in first-half profit, driven by a 45% increase in interest income.
Dubai: Bank of Sharjah posted a 35% increase in first-half net profit, driven by robust lending growth and higher interest income during the six months ended June 30.
Net profit rose to Dh362 million from Dh268 million in the same period last year, while second-quarter profit increased 39% year-on-year.
The bank’s net operating income climbed 26% to Dh553 million, driven by a 45% increase in net interest income to Dh465 million.
Lending expands to Dh36.5 billion
Net loans and advances grew 20% from the end of 2025 to Dh36.5 billion, reflecting sustained demand for financing across the bank’s core markets.
Customer deposits rose 6% to Dh33.5 billion, while total assets increased 10% to Dh53 billion.
Lending growth outpaced the rise in deposits during the period, as the bank continued to reinforce its capital base.
The bank’s total capital ratio improved by 4.63 percentage points to 18.7%, while its cost-to-income ratio remained at 29%, reflecting disciplined cost management despite higher revenues.
Record quarterly performance
Mohamed Khadiri, Chief Executive of Bank of Sharjah, said the lender continued to strengthen both its financial performance and operational position during the second quarter.
“We delivered yet another quarter of record financial performance, achieving a 39% year-on-year increase in net profit while continuing to strengthen our key financial and operating metrics,” he said.
The bank also advanced a series of strategic initiatives aimed at enhancing its operating model, expanding digital capabilities and improving the customer experience as it works to build a more agile and scalable business.
“Beyond our financial performance, we continued to make meaningful progress on a number of strategic initiatives aimed at further strengthening the Bank’s operating model, enhancing customer experience, investing in digital capabilities, and building a more agile and scalable franchise capable of supporting sustainable long-term growth,” Khadiri added.
UAE economy underpins growth
Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, said the bank delivered strong results despite a challenging global environment marked by geopolitical tensions, shifting interest rate expectations and volatility in international financial markets.
“The first half of 2026 unfolded against a complex and evolving global backdrop, shaped by geopolitical developments, shifting interest rate expectations, and continued volatility across international financial markets,” he said.
