Dubai, United Arab Emirates — UAE Islamic lender Emirates Islamicgrew its operating profit 7% year-on-year to approximately $898.57 million (AED 3.3 billion) in the first nine months of 2026, as total income rose 6%,.
Total income reached approximately $1.28 billion (AED 4.7 billion), driven by higher non-funded income. Expenses increased 5% to approximately $381.21 million (AED 1.4 billion), which the bank attributed to continued strategic investments to drive growth, and impairment allowances came to approximately $38.39 million (AED 141 million).
Net profit was approximately $735.19 million (AED 2.7 billion), broadly stable year-on-year, with a net profit margin of 3%.
Total assets increased 8.6% to approximately $43.1 billion (AED 158.3 billion) during the nine months. Customer financing rose 14.4% to approximately $27.67 billion (AED 101.6 billion), and customer deposits grew 13.4% to approximately $31.53 billion (AED 115.8 billion), with current and savings account balances making up 63.2% of deposits.
The non-performing financing ratio stood at 2.4%, with a coverage ratio of 151.5%. The Common Equity Tier 1 ratio was 15.1% and the capital adequacy ratio 16.2%, while the headline financing-to-deposit ratio of 87.7% was comfortably within management’s target range, the bank said.
The results show that Emirates Islamic expanded its financing portfolio faster than its deposit base during the period, while maintaining deposits above outstanding customer financing. The difference between the two balances provides context for the bank's funding position as it continues to grow its lending activities.
Hesham Abdulla Al Qassim, Chairman of Emirates Islamic, said: “Emirates Islamic recorded a 7% year-on-year increase in operating profit to AED 3.3 billion for the first nine months of 2026, while net profit remained broadly stable year-on-year at AED 2.7 billion with healthy net profit margin at 3%. Our focus remains on sustainable balance sheet growth, prudent risk management and effective allocation of capital. These priorities position Emirates Islamic to capture growth opportunities, support customers, deliver sustainable returns to shareholders and advance the development of Islamic finance in line with the UAE Islamic Finance and Halal Industry Strategy 2025–2031.”
The bank's focus on capital allocation and risk management comes alongside efforts to diversify its income sources. Its latest results highlight the contribution of non-funded income, complementing its customer financing activities.
Farid AlMulla, Chief Executive Officer of Emirates Islamic, said: “Our diversified business model continued to deliver strong results, with total income increasing 6% to AED 4.7 billion, supported by robust growth in non-funded income streams. This reflects the strength of our business across all segments and our continued investment in strategic priorities that support long-term value creation. We continue to deepen customer relationships and broaden our banking proposition, supporting diversified income growth, while Current and Savings Account balances accounted for 63.2% of total deposits, reinforcing the quality and resilience of our funding mix.”
Beyond its broader banking operations, Emirates Islamic serves more than 45,000 small and medium-sized enterprises across the UAE. Its business banking services include account management and customer incentive programs, including a campaign that rewarded businesses for maintaining and increasing their account balances.
Mohammad Kamran Wajid, Deputy Chief Executive Officer of Emirates Islamic, said: “We continue to manage growth and gain market share across key segments through a disciplined financial and risk framework, strong customer engagement, and sustained investment in our people and innovative solutions to deliver an exceptional banking experience. Business Banking remains an important component of our growth strategy. Emirates Islamic provides banking services to over 45,000 SMEs operating in the UAE. Our AED 1 million Business Banking Campaign rewarded 55 customers for maintaining and growing their account balances, reinforcing our commitment to SME growth across the nation.”
In April, Emirates Islamic launched what it described as the first Shariah-compliant digital precious metals investment solution offered by an Islamic bank in the UAE. Customers can buy and sell gold and silver at market-linked prices and redeem their holdings in cash or as physical bullion.
