Emirates Islamic reports AED4.7 billion income, AED2.7 billion net profit in 9M 2026
Customer deposits rose 13.4 percent to AED115.8 billion, with current and savings accounts accounting for 63.2 percent of the total.
Emirates Islamic reported total income of AED4.7 billion ($1.28 billion) for the first nine months of 2026, up 6 percent year-on-year, with net profit at AED2.7 billion ($735.2 million). Operating profit increased 7 percent to AED3.3 billion, driven by higher non-funded income and disciplined cost management.
Emirates Islamic profit and income breakdown#
Expenses rose 5 percent year-on-year to AED1.4 billion, reflecting strategic investments to support growth. Impairment allowances stood at AED141 million for the period. The bank's net profit margin remained at 3 percent. Total assets increased 8.6 percent to AED158.3 billion during the nine-month period. Non-funded income increased during the period, contributing to the 6 percent rise in total income.
Customer deposits and financing growth#
Customer deposits reached AED115.8 billion, up 13.4 percent, with current and savings accounts representing 63.2 percent of total deposits. Customer financing expanded 14.4 percent to AED101.6 billion. The financing-to-deposit ratio stood at 87.7 percent, within management's target range. The bank serves more than 45,000 SMEs across the UAE.
Asset quality and capital position#
The non-performing financing ratio was 2.4 percent, with a coverage ratio of 151.5 percent. The Common Equity Tier 1 ratio stood at 15.1 percent and the capital adequacy ratio at 16.2 percent. Emirates Islamic signed a memorandum of understanding with Dubai Chambers to provide expanded access to Shariah-compliant banking services for its members, offering tailored trade finance and working capital solutions.
Nine-month performance drivers#
Farid AlMulla, chief executive officer, said the diversified business model delivered a 6 percent increase in total income to AED4.7 billion, with non-funded income contributing to the growth. Mohammad Kamran Wajid, deputy chief executive officer, said the bank expanded its presence across retail, corporate and SME banking segments through financial and risk management, customer engagement and investment in banking solutions.
Sources2 sources across 2 domains
- economymiddleeast.comEconomy Middle EastTotal income AED4.7 billion, net profit AED2.7 billion, customer deposits AED115.8 billion, non-performing financing ratio 2.4 percent, coverage ratio 151.5 percent, CET1 15.1 percent, capital adequacy 16.2 percent, financing-to-deposit ratio 87.7 percent, serves 45,000 SMEs, MOU with Dubai Chambers
- khaleejtimes.comKhaleej TimesContext on UAE banking sector performance and regional economic conditions
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