Emirates Islamic reported net profit of AED2.7 billion for the first nine months of 2026, broadly unchanged from a year earlier, as higher fee income and balance sheet growth offset rising costs.
Operating profit rose 7 percent year on year to AED3.3 billion, the Dubai-based lender said in a statement on Wednesday. Total income increased 6 percent to AED4.7 billion, driven by non-funded income.
Operating expenses rose 5 percent to AED1.4 billion, which the bank attributed to continued strategic investment. The impairment allowance charge was AED141 million.
Total assets grew 8.6 percent in the nine months to AED158.3 billion. Customer financing rose 14.4 percent to AED101.6 billion, and customer deposits increased 13.4 percent to AED115.8 billion.
Current and savings account balances made up 63.2 percent of deposits. The headline financing to deposit ratio was 87.7 percent.
The non-performing financing ratio stood at 2.4 percent, with a coverage ratio of 151.5 percent. The Common Equity Tier 1 ratio was 15.1 percent and the capital adequacy ratio 16.2 percent.
“Double-digit growth in both financing and deposits reflects the strength of our franchise and customers’ growing preference for Emirates Islamic,” Chief Executive Officer Farid AlMulla said, citing market share gains in retail, corporate and small business banking.
Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, said the bank’s focus remained on “sustainable balance sheet growth, prudent risk management and effective allocation of capital.”
The bank said it serves more than 45,000 small and medium-sized enterprises in the UAE. It recently signed a memorandum of understanding with Dubai Chambers to offer Shariah-compliant trade finance, cash management and corporate financing to chamber members.
Emirates Islamic is the Islamic banking arm of Emirates NBD, which reported earlier on Wednesday a 4 percent rise in nine-month profit before tax to a record AED24.3 billion. Emirates Islamic operates 36 branches across the UAE.
