Emirates Islamic has reported a total income of AED4.7 billion ($1.28 billion) and a net profit of AED2.7 billion ($735.2 million) for the first nine months of 2026, marking a year-on-year increase of 6% in income and 7% in operating profit. This performance underscores the bank’s strong capital, liquidity, and asset quality fundamentals, as it continues to invest strategically for future growth.
According to Economy Middle East, Emirates Islamic’s customer deposits reached AED115.8 billion, with current and savings accounts making up 63.2% of the total, reflecting a robust funding mix. The bank’s net profit margin remained healthy at 3%, despite a 5% rise in expenses to AED1.4 billion, attributed to ongoing strategic investments.
Strong Asset Quality and Growth
Emirates Islamic’s asset quality remains solid, with a non-performing financing ratio of 2.4% and a coverage ratio of 151.5%. The bank’s capital position is also strong, with Common Equity Tier 1 and capital adequacy ratios of 15.1% and 16.2%, respectively. Total assets increased by 8.6% to AED158.3 billion, while customer financing grew by 14.4% to AED101.6 billion.
Farid AlMulla, Chief Executive Officer of Emirates Islamic, stated, “Our diversified business model continued to deliver strong results, with total income increasing 6 percent to AED4.7 billion, supported by robust growth in non-funded income streams.” He emphasized that the bank’s strategic investments are aimed at long-term value creation.
Focus on SME Banking
The bank is also focusing on expanding its market share in the SME sector, serving over 45,000 SMEs across the UAE. Mohammad Kamran Wajid, Deputy Chief Executive Officer, noted that Emirates Islamic signed a Memorandum of Understanding with Dubai Chambers to enhance access to Shariah-compliant banking services, offering tailored trade finance and corporate financing solutions.
In recognition of its sustainable finance initiatives, Emirates Islamic received the ‘World’s Best Sukuk Deal’ award at the Euromoney Islamic Finance Awards 2026 for its $500 million Sustainability-Linked Financing Sukuk, marking a significant achievement as the first issuance of its kind globally.
