Bank of Sharjah’s net profit jumped 39% in the second quarter of 2026, reaching AED 362 million, up from AED 268 million in 2025. The bank’s strong revenue growth and disciplined execution across core businesses contributed to this increase.
The bank’s net operating income increased by 26% to AED 553 million, while net interest income grew by 45% to AED 465 million. The total capital ratio also increased by 463 basis points to 18.7%.
Financial Performance
The bank maintained strong balance sheet growth, with total assets reaching AED 53 billion, a 10% increase. Net loans and advances increased to AED 36.5 billion, a 20% rise, and customer deposits rose to AED 33.5 billion, a 6% increase.
The bank’s cost-to-income ratio remained well-controlled at 29%. This highlights the bank’s continued cost discipline and ability to manage expenses.
Market Outlook
Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, commented on the bank’s results, stating that the UAE economy demonstrated exceptional resilience despite external headwinds. He attributed this to the country’s diversified economic foundations, prudent fiscal and monetary policies, and the strength of its financial system.
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The chairman expressed confidence in the long-term prospects of both the UAE economy and Bank of Sharjah, citing the bank’s ability to handle changing market conditions and create sustainable value for shareholders.
Mr. Mohamed Khadiri, CEO of Bank of Sharjah, also expressed delight at the bank’s performance, noting that they delivered another quarter of record financial performance. He highlighted the bank’s progress on strategic initiatives aimed at strengthening the bank’s operating model and enhancing customer experience.
The CEO added that while global markets are expected to remain uncertain and volatile, the bank is entering the second half of the year from a position of strength, supported by a healthy balance sheet and strong capital and liquidity buffers.
Strategic Initiatives
Bank of Sharjah’s strategic initiatives are focused on further strengthening the bank’s operating model, enhancing customer experience, and investing in digital capabilities. The bank aims to build a more agile and scalable franchise capable of supporting sustainable long-term growth.
By executing its strategy with discipline and investing in its people and capabilities, the bank is well-positioned to deliver disciplined and profitable growth while preserving high standards of risk management and financial resilience.
