The Emirates Islamic Bank reported strong operational performance for the first quarter of 2026, driven by an increase in both funded and non-funded income, with total income rising by 6% compared to the same period last year.
Operating profits also increased by 7%, reaching 1.1 billion AED in Q1 2026, despite a similar rise in costs due to ongoing investments in strategic initiatives aimed at supporting growth. However, net profit declined by 16% to approximately 900 million AED, while the net profit margin remained robust at 3.1%.
The bank continued to demonstrate steady growth, with total assets increasing by 2.5% to 149 billion AED. Financing provided to clients rose by 6%, amounting to 94 billion AED. Moreover, customer deposits grew by 7%, reaching 109 billion AED, bolstered by strong performance in current and savings accounts, which constituted 66% of total deposits.
Hisham Abdulla Al Qassim, Chairman of Emirates Islamic Bank, stated, “The financial results for the first quarter of 2026 reflect the financial resilience of the country and its preparedness amid current circumstances. We are pleased to report a 6% growth in total income year-over-year, alongside a 7% increase in operating profits.”
Al Qassim added that the bank recently secured a joint Murabaha facility amounting to 500 million USD for a five-year period to finance goods. This transaction highlights an important milestone for Emirates Islamic Bank, showcasing its capability to provide long-term financing in US dollars.
With a highly competitive profit rate for the five-year term, the facility was executed within a record timeframe, attracting significant interest from several leading global banks, which underscores Emirates Islamic Bank’s strong relationships with international financial institutions and its established position as a reliable partner in the banking sector.
He further stated, “As we move forward, guided by the wise directives of our nation’s leaders, we will continue to evolve and succeed in promoting the growth of the Islamic banking sector in the UAE.”
Farid Al Mulla, CEO of Emirates Islamic Bank, noted continuous growth in key financial indicators, with total assets up by 2.5% compared to the end of the previous year, reaching 149 billion AED.
Despite current conditions, financing extended to clients grew by 6% to 94 billion AED, while deposits increased by 7% to 109 billion AED. The balances in current and savings accounts showed strong performance, accounting for 66% of total deposits.
Mohammed Kamran Wajid, Deputy CEO of Emirates Islamic Bank, remarked, “At Emirates Islamic Bank, we adopt a clear strategy that drives our growth and expansion across all sectors, including retail banking, business banking, corporate and institutional banking, and treasury services.”