Bank of Sharjah delivers record performance with net profit of Dh151 million

SHARJAH: Bank of Sharjah today announced its financial results for the three-month period ended 31st March 2026, reporting exceptional performance and reinforcing the strong momentum achieved over the last two years.

The Bank recorded net profit of Dh151 million, up 30% from Dh116 million in 2025, while profit before tax increased 28% to Dh166 million, reflecting strong revenue growth and disciplined execution across core businesses.

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Net operating income increased by 26% to Dh241 million, while net interest income grew by 49% to Dh215 million. Similarly, Total capital ratio increased by 410 bps to 17.9%, while the cost-to-income ratio remained well controlled at 30% level, highlighting continued cost discipline.

The Bank maintained strong balance sheet growth, with total assets reaching Dh55 billion (+13%), net loans and advances increasing to Dh35 billion (+14%), and customer deposits rising to Dh36 billion (+16%), compared to December 2025.

Commenting on the Bank’s results, Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, stated, “Despite the ongoing geopolitical uncertainty, Bank of Sharjah has delivered a standout financial performance in Q1 2026, reflecting strong business momentum, continued balance sheet expansion, and disciplined execution of our strategy. While regional developments continue to present challenges, the Bank’s operations have not been materially impacted, demonstrating the quality and diversification of our franchise, as well as the strength of our underlying fundamentals.”

He added: “Looking ahead, we recognise that certain customers and sectors may face short-term pressures. However, we remain confident in the UAE’s economic outlook.

"We are committed to supporting our customers through current challenges while enabling their long-term ambitions, and continuing to play an active role in the sustainable growth and development of the UAE economy.”

Mohamed Khadiri, CEO of Bank of Sharjah, commented: “We have started 2026 on a strong footing, building on the solid momentum achieved over the past two years, with the Bank delivering robust growth in profitability, continued balance sheet expansion, and tangible improvements across key performance indicators.”

He added: “Despite heightened market volatility driven by regional geopolitical developments, the Bank’s operations and financial performance have remained stable.

This reflects the effectiveness of our proactive risk management framework and the strength of our well-diversified portfolio, which continue to underpin consistent and sustainable results.”