24/07/2025 05:06 AST
Bank of Sharjah posted a net profit of AED268 million ($72.96 million) for the first half of 2025, compared to AED171 million for the same period last year, representing a 57 per cent year-on-year increase.
On a quarterly basis, net profit rose to AED152 million in Q2 2025, a 31 per cent increase over the AED116 million posted in Q1 2025.
The exceptional results for H1 2025 underscore the bank's strategic focus on sustainable growth. All key performance indicators showed significant improvement, with strong contributions from both funded and non-funded income. This led to a 55 per cent rise in net interest income and 51 per cent increase in operating income, a WAM news agency report said.
At the same time, the cost-to-income ratio improved to 31 per cent, supported by the bank's continued commitment to strict cost controls. These results reflect the bank's core strength, operational efficiency, prudent risk management, and its ongoing efforts to enhance shareholder value.
The balance sheet remains robust, with a loan-to-deposits ratio of 93 per cent, and liquidity maintained at highly comfortable levels. These results also highlight the bank's strong capital position, with capital adequacy ratio of 14 per cent, and Tier1/CET1 capital ratios standing at around 13 per cent.
Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, said: "Bank of Sharjah has maintained strong momentum in the first half of 2025, building on the solid results achieved in the first quarter. Our record net profit reflects enhanced business performance, operational efficiency, and financial resilience. These results are driven by steady balance sheet growth, a well-diversified business mix, improved operational capabilities, and a prudent approach to risk."
Sheikh Mohammed added: "We remain confident in our ability to deliver sustainable, long-term returns, while maintaining conservative risk management and corporate governance."
Mohamed Khadiri, CEO of Bank of Sharjah, commented: "Our strategic transformation is well underway, and our first-half performance reflects the tangible progress we are making across all business lines. We have successfully expanded and diversified our balance sheet, strengthened customer relationships, and improved cross-selling capabilities, delivering solid results."
Looking ahead, Khadiri further added: "Bank of Sharjah remains firmly focused on sustainable, profitable growth, through prudent capital deployment and sound risk governance. With a strong foundation and improving fundamentals, we are well positioned to deliver consistent returns for our shareholders while contributing to the ongoing growth and diversification of the UAE economy."
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