Dubai Islamic Bank reported a net profit after tax of AED3.736 billion for the first half of 2026, broadly steady compared with AED3.73 billion in the same period last year, as gross revenue climbed 10% to AED12.439 billion.
Pre-tax profit rose 1% year-on-year to AED4.334 billion, the bank said in a statement issued on Tuesday. Operating profit increased 6% to AED4.823 billion, supported by growth across both funded and non-funded income streams.
Net financing assets expanded 7% since the start of the year to AED281 billion, with AED43 billion in new financing extended during the period. Customer deposits grew 2% to AED327 billion, and total assets reached AED423 billion.
Chairman Mohammed Ibrahim Al-Shaibani said the first half unfolded against a challenging global backdrop shaped by geopolitical developments and shifting rate expectations, but noted the UAE economy remained resilient, pointing to Dubai's first-quarter GDP of AED232 billion, up 2.4% year-on-year. He highlighted the bank's recent $1 billion Additional Tier 1 sukuk issuance as evidence of continued access to global capital markets.
Group Chief Executive Officer Dr Adnan Chilwan described the results as strong, citing a pre-tax return on tangible equity of close to 20%. He said asset quality continued to improve, with the non-performing financing ratio falling to 2.4%, cost of risk at 28 basis points and cash coverage at 122%.
Capital and liquidity metrics also held firm, with a Common Equity Tier 1 ratio of 13.0%, capital adequacy ratio of 16.1%, liquidity coverage ratio of 140% and net stable funding ratio of 105%.
The bank noted a 16% rise in registered digital banking users, alongside AED3.1 billion in sustainable finance and AED2.1 billion in sustainability-linked financing extended since the start of the year.
News Source: Emirates News Agency
