The bank recorded strong double-digit growth in assets, loans, and deposits, supported by disciplined cost management.
SHARJAH: Bank of Sharjah announced its financial results for the three months ended 31st March 2026, reporting strong performance and sustained momentum over the past two years.
The bank posted a net profit of Dh151 million, a 30% increase from Dh116 million in 2025, while profit before tax rose 28% to Dh166 million, driven by solid revenue growth and disciplined execution across its core operations.
Net operating income rose 26% to Dh241 million, while net interest income increased significantly by 49% to Dh215 million. The bank also strengthened its capital position, with the total capital ratio improving by 410 basis points to 17.9%. Meanwhile, the cost-to-income ratio remained well controlled at around 30%, reflecting continued cost discipline.
The bank maintained strong balance sheet growth, with total assets reaching Dh55 billion (up 13%), net loans and advances rising to Dh35 billion (up 14%), and customer deposits increasing to Dh36 billion (up 16%) compared to December 2025.
Commenting on the results, Sheikh Mohammed bin Saud Al Qasimi said that despite ongoing geopolitical uncertainty, Bank of Sharjah delivered a standout performance in Q1 2026. He attributed the results to strong business momentum, continued balance sheet expansion, and disciplined execution of strategy, adding that regional developments had not materially affected operations, reflecting the strength and diversification of the bank’s franchise and its underlying fundamentals.
He added that while some customers and sectors may face short-term pressures, there is strong confidence in the UAE’s economic outlook. He reaffirmed the bank’s commitment to supporting clients through current challenges, enabling their long-term goals, and contributing to the sustainable growth of the UAE economy.
Mohamed Khadiri said the bank began 2026 on a strong note, building on momentum from the past two years, with solid growth in profitability, continued balance sheet expansion, and improvements across key performance indicators. He further noted that despite heightened market volatility linked to regional geopolitical developments, the bank’s operations and financial performance have remained stable.
He added that this performance reflects the effectiveness of the bank’s proactive risk management framework and the strength of its well-diversified portfolio, which together continue to support consistent and sustainable results.
