Emirates Islamic posts AED 1.7bn net profit in H1 2026 as income and assets rise
Emirates Islamic posts robust H1 2026 results: AED 1.7bn net profit, 8% revenue growth, assets AED153.8bn, with stronger deposits, lending and coverage.
Emirates Islamic reported a strong financial performance for the first half of 2026 (January 1–June 30, 2026), delivering a net profit of AED 1.7 billion and an 8% increase in total income compared with the same period a year earlier. The bank said operating profit rose 10% as disciplined cost management and balanced income streams supported margins. Emirates Islamic highlighted continued balance-sheet growth and maintained coverage ratios as central to its half-year results.
Income and operating profit performance
The bank’s total income rose by 8% year-on-year in H1 2026, driven by gains across both funded and non-funded income lines. Operating profit expanded 10% compared with the first half of 2025, the bank said, reflecting revenue momentum alongside tight expense control. Management cited a net profit margin of 3.1% for the period, underscoring profitability despite a dynamic macroeconomic backdrop.
Balance-sheet expansion to AED 153.8 billion
Emirates Islamic’s total assets increased by 5.5% since the start of the year to reach AED 153.8 billion at June 30, 2026. The uplift in assets was attributed to higher customer financing, liquidity management and selective growth in investment portfolios. The balance-sheet expansion underlines the bank’s capacity to grow while preserving capital and liquidity buffers.
Lending and deposit growth
Customer financing grew 9.1% year-to-date to AED 97.0 billion, reflecting stronger demand across retail and corporate segments. Deposits from customers rose 8.3% since the start of 2026, reaching AED 110.6 billion and supported by a robust mix of current account and savings balances. Current account and savings balances comprised 65% of the deposit base, a mix the bank said helps lower funding costs and supports lending capacity.
Risk coverage and capital position
Emirates Islamic reported that it maintained strong coverage ratios through the first half, supported by prudent provisioning and active portfolio management. The bank emphasized that capital and liquidity metrics remained well within regulatory thresholds and internal targets. This resilience, management said, positions the bank to absorb potential shocks and continue lending into the UAE economy.
Management perspective on results
Hisham Abdullah Al Qassim, chairman of Emirates Islamic, described the H1 2026 results as a reflection of the broader strength of the UAE economy, noting the contribution of both financed and non-financed income to the 8% rise in total income. Chief Executive Officer Farid Al Mulla said the bank sustained a solid growth trajectory thanks to a resilient business model and continued focus on sustainable expansion. Both executives pointed to disciplined cost management and diversified revenue as key drivers of the half-year outcome.
Operational priorities and market outlook
Emirates Islamic said it will continue to prioritise digital channels, customer deposit growth and targeted financing across priority sectors to support long-term returns. The bank indicated ongoing investment in technology and customer experience as part of its strategy to deepen market share while maintaining prudent risk controls. Management noted that macroeconomic conditions and interest-rate dynamics will be monitored closely as the bank executes its plan for the remainder of 2026.
The bank’s H1 results signal continued momentum for Emirates Islamic as it leverages a growing deposit franchise and expanding financing book to support sustainable profitability. Management reiterated its commitment to conservative risk management and to aligning growth with regulatory and market conditions for the rest of the year.