Emirates Islamic delivers AED 2.2 billion operating profit in the first half of 2026, driven by robust income supported by financing and deposit growth

5 Min | 23 July 2026

Dubai, 23 July 2026: Emirates Islamic reported a strong performance for the first half of 2026, achieving an 8% yoy increase in total income driven by growth in both funded and non-funded income. The Bank delivered a 10% yoy increase in operating profit, supported by healthy net profit margin of 3.1%, continued asset growth and disciplined cost management. The Bank recorded a net profit of AED 1.7 billion for the first six months of the year, while continuing to maintain a strong coverage ratio. The Bank's balance sheet growth remained robust, with total assets growing 5.5% ytd to AED 153.8 billion, while customer financing increased 9.1% ytd to AED 97 billion and customer deposits rose 8.3% ytd to AED 110.6 billion, supported by a strong CASA mix of 65%.

Key Highlights – First Half 2026

Strong operating performance on higher funded income and non-funded income

Total income up 8% yoy driven by higher funded and non-funded income
Expenses increased 3% yoy reflecting continued strategic investments to drive growth
Impairment allowances charge at AED 251 million
Operating profit improved 10% yoy
Net profit at AED 1.7 billion
Net profit margin healthy at 3.1%

Strong capital and liquidity combined with a healthy deposit mix empowering the Bank to provide improved products to customers

Total assets increased by 5.5% to AED 153.8 billion during first half of 2026
Customer financing at AED 97 billion, increased 9.1% during first half of 2026
Customer deposits at AED 110.6 billion, increased 8.3% during first half of 2026 with Current and Saving Account balances at 65% of deposits
Credit Quality: Non-performing financing ratio at 2.5% with strong coverage ratio at 157.5%
Capital: Common Equity Tier 1 ratio at 14.8% and Capital adequacy ratio at 15.9% reflect the bank’s strong and stable capital position
Headline Financing to Deposit ratio at 88% comfortably within the management’s target range

Hesham Abdulla Al Qassim, Chairman, Emirates Islamic said:

"Emirates Islamic’s first-half 2026 results reflect the strength of the UAE economy, with total income up 8% yoy, driven by higher funded and non-funded income, and operating profit increasing 10%.
The UAE’s continued growth is a testament to the visionary leadership of our nation’s leaders and their steadfast commitment to progress and prosperity. Guided by the principles of Islamic finance, Emirates Islamic remains committed to supporting the nation’s economic ambitions and delivering sustainable, long-term value for our customers, businesses and communities.
We continue to lead innovation in Islamic banking, launching the UAE’s first Shariah-compliant Certificate of Deposit Programme to diversify investor opportunities, strengthen our funding base and expand our international reach.
Sustainable finance remains a key growth area, with several ESG-linked financing facilities completed in H1 2026, reinforcing our commitment to supporting clients’ sustainability ambitions.
Our leadership in sustainable Islamic finance has been globally recognised, with Emirates Islamic winning ‘Sustainable Finance Deal of the Year – Middle East’ at the Global Finance Sustainable Finance Awards 2026 for issuing the world’s first Sustainability-Linked Financing Sukuk in 2025.”

Farid AlMulla, Chief Executive Officer, Emirates Islamic said:

“Emirates Islamic maintained a robust growth trajectory during the first half of 2026, demonstrating the resilience of our business model. Total assets increased by 5.5% to AED 153.8 billion, underscoring our continued ability to deliver sustainable growth in the current environment.
Our strong capital, liquidity and diversified funding base continue to support customer growth, driving a 9.1% increase in financing and an 8.3% increase in deposits during the period.
The quality of our funding franchise remains a key strength, with CASA balances accounting for 65% of total deposits, reflecting deep customer relationships, strong trust and our market-leading digital proposition.
We continue to lead innovation in Islamic banking, becoming the first Islamic bank in the UAE to offer digital gold and silver investments through the EI + App, providing customers with seamless access to Shariah-compliant wealth diversification solutions.
Our commitment to a people-first culture continues to be recognised, with Emirates Islamic ranked among the Top 10 Inspiring Workplaces in the Middle East and Africa, reinforcing our position as an employer of choice and supporting our long-term success.”

Mohammad Kamran Wajid, Deputy Chief Executive Officer of Emirates Islamic said:

“As a trusted Islamic banking partner, we continue to help businesses thrive and create lasting value. Our new Shariah-compliant Commodity Hedging solutions, including profit-rate hedging and FX options, enable clients to manage commodity price volatility, mitigate risks and protect cash flows through tailored risk-management solutions.
Our strategic partnership with FC Barcelona reflects our commitment to innovation and customer engagement, bringing fans closer to the club through the Emirates Islamic Barça Cashback Card while rewarding everyday spending.
Supporting the UAE’s SME ecosystem remains a key priority, with our latest Business Banking campaign helping over 40,000 SMEs build resilience, drive growth and contribute to the nation’s economic development.
Customer excellence continues to differentiate Emirates Islamic, earning us the ‘Middle East’s Best for Client Service’ award at the Euromoney Private Banking Awards 2026, recognising our outstanding service and digitally enabled banking experience.
Looking ahead, we remain well-positioned for sustainable growth, leveraging our strong financial fundamentals to expand our leadership in Islamic banking, enhance customer experiences and create long-term value for customers, shareholders and the wider community.”