24/10/2025 06:44 AST
Bank of Sharjah recorded a net profit of Dh435 million over the nine months finishing 30 September 2025-an advance of 47% against Dh296 million achieved in the equivalent span last year. The third quarter alone saw net profit at Dh166 million, showing a 33% increase from Dh125 million reported in Q3 2024.
Key financial metrics registered marked gains. Net interest income jumped by 60% to reach Dh514 million, while operating income climbed 46% to Dh713 million. The cost-to-income ratio improved to 29.9%, down from last year's 36.4%, reflecting heightened efficiency and greater cost control.
Expansion continued on the balance sheet. Total assets reached Dh49.6 billion-a 14% rise since December 2024. Net loans and advances grew to Dh30.7 billion, up 26%. Customer deposits also moved up, reaching Dh33.1 billion, 11% higher than before. The loan-to-deposit ratio held firm at 92.7%, underlining sustained lending activity.
Solid growth
Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, stated: "Bank of Sharjah continues to demonstrate strong performance and strategic consistency, delivering another quarter of solid growth and profitability. Our results reaffirm the Bank's financial resilience and commitment to sustainable value creation. The Bank's robust balance sheet expansion, diversified income streams, and steady improvement in asset quality highlight our ability to perform and grow in a dynamic environment."
He added: "As we move toward year-end, we remain guided by our core principles of stability, integrity, and long-term vision. Our focus remains on consistent growth, sound risk management, and continued support to the UAE's economic development."
Healthy loans
Mohamed Khadiri, CEO of Bank of Sharjah, commented: "With net profit reaching Dh435 million, exceeding the Bank's full-year 2024 profits, and with returns on equity and assets at multi-year highs, Bank of Sharjah continues to translate strategy into measurable outcomes. This quarter's results reflect the success of our strategic execution, focus on customer value, and operational efficiency.
"Our performance was underpinned by healthy loan growth, strong client activity, and disciplined cost management, resulting in a cost-to-income ratio below 30%. Our sustained balance sheet growth, improved credit quality, and solid liquidity position the Bank strongly for the future."
He added: "With a solid foundation and disciplined execution of our priorities, Bank of Sharjah is on track to continue delivering superior performance and long-term value for all stakeholders."
Gulfnews
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