Bank of Sharjah profit surges on 20% lending growth

First-half profit reached Dh362 million as interest income rose 45%

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Nivetha Dayanand, Assistant Business Editor
Bank of Sharjah profit surges on 20% lending growth
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Dubai: Bank of Sharjah reported a 35% increase in first-half net profit after stronger lending and higher interest income lifted earnings during the six months ended June 30.

Net profit reached Dh362 million, compared with Dh268 million during the same period last year, while second-quarter profit rose 39% year on year.

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The lender’s net operating income increased 26% to Dh553 million, supported by a 45% rise in net interest income to Dh465 million.

Lending reaches Dh36.5 billion

Net loans and advances rose 20% from the end of 2025 to Dh36.5 billion, reflecting continued demand for financing across the bank’s core markets.

Customer deposits increased 6% to Dh33.5 billion, while total assets grew 10% to Dh53 billion.

The expansion in lending outpaced deposit growth during the period, while the bank continued to strengthen its capital position.

Its total capital ratio increased by 4.63 percentage points to 18.7%. The cost-to-income ratio remained at 29%, indicating that operating expenses were kept under control while revenue increased.

Record quarterly performance

Mohamed Khadiri, chief executive of Bank of Sharjah, said the lender continued to improve its financial and operating position during the quarter.

“We delivered yet another quarter of record financial performance, achieving a 39% year-on-year increase in net profit while continuing to strengthen our key financial and operating metrics,” he said.

The bank also continued work on initiatives covering its operating model, digital capabilities and customer experience as it seeks to build a more scalable business.

“Beyond our financial performance, we continued to make meaningful progress on a number of strategic initiatives aimed at further strengthening the Bank's operating model, enhancing customer experience, investing in digital capabilities, and building a more agile and scalable franchise capable of supporting sustainable long-term growth,” Khadiri said.

UAE economy supports growth

Sheikh Mohammed bin Saud Al Qasimi, chairman of Bank of Sharjah, said the results were achieved despite geopolitical tensions, changing interest-rate expectations and volatility in international markets.

“The first half of 2026 unfolded against a complex and evolving global backdrop, shaped by geopolitical developments, shifting interest rate expectations, and continued volatility across international financial markets,” he said.

Nivetha Dayanand
Nivetha DayanandAssistant Business Editor
Nivetha Dayanand is Assistant Business Editor at Gulf News, where she spends her days unpacking money, markets, aviation, and the big shifts shaping life in the Gulf. Before returning to Gulf News, she launched Finance Middle East, complete with a podcast and video series. Her reporting has taken her from breaking spot news to long-form features and high-profile interviews. Nivetha has interviewed Prince Khaled bin Alwaleed Al Saud, Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu, IMF’s Jihad Azour, and a long list of CEOs, regulators, and founders who are reshaping the region’s economy. An Erasmus Mundus journalism alum, Nivetha has shared classrooms and newsrooms with journalists from more than 40 countries, which probably explains her weakness for data, context, and a good follow-up question. When she is away from her keyboard (AFK), you are most likely to find her at the gym with an Eminem playlist, bingeing One Piece, or exploring games on her PS5.

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