Abu Dhabi – Mubasher: The net profits of Bank of Sharjah increased by 30% year-on-year (YoY) to AED 151.19 million in the first quarter (Q1) of 2026 from AED 116.17 million.
The basic and diluted earnings per share (EPS) went up to AED 0.05 in Q1-26 from AED 0.04 a year earlier, according to the interim financial results.
Net operating income increased by 26% YoY to AED 241 million as of 31 March 2026, while net interest income hiked by 49% to AED 215 million.
The ADX-listed lender maintained strong balance sheet growth in Q1-26, with total assets reaching AED 55 billion and customer deposits amounting to AED 36 billion.
Chairman of Bank of Sharjah, Mohammed bin Saud Al Qasimi, stated: “Despite the ongoing geopolitical uncertainty, Bank of Sharjah has delivered a standout financial performance in Q1-26, reflecting strong business momentum, continued balance sheet expansion, and disciplined execution of our strategy.”
“While regional developments continue to present challenges, the bank’s operations have not been materially impacted, demonstrating the quality and diversification of our franchise, as well as the strength of our underlying fundamentals,” Al Qasimi mentioned.
He added: “Looking ahead, we recognize that certain customers and sectors may face short-term pressures. However, we remain confident in the UAE’s economic outlook. We are committed to supporting our customers through current challenges while enabling their long-term ambitions and continuing to play an active role in the sustainable growth and development of the UAE economy.”
Bank of Sharjah ended last year with net profits after tax valued at AED 729 million.
