Emirates Islamic has announced a significant financial performance for the first three quarters of 2026, underscoring its steady growth and innovation within the Islamic banking sector. The bank has launched a new Shari’ah-compliant digital investment solution in gold and silver, further enhancing its EI + Mobile Banking App. This development signals the bank’s commitment to evolving alongside customer needs in a competitive marketplace.
Strong Financial Performance
For the first nine months of 2026, Emirates Islamic reported a profit of AED 2.7 billion, reflecting robust growth compared to the same period last year. Notably, operating profit increased by 7 percent year-on-year, reaching AED 3.3 billion. This growth trajectory is attributed to a 6 percent rise in total income, now at AED 4.7 billion, driven primarily by a surge in non-funded income sources.
Asset Growth and Customer Financing
The bank’s total assets climbed to AED 158.3 billion, marking an 8.6 percent increase. Customer financing also saw remarkable growth of 14.4 percent, totaling AED 101.6 billion. This increase in financing highlights Emirates Islamic’s commitment to supporting its customer base through responsible lending practices. Customer deposits surged by 13.4 percent to AED 115.8 billion, with current and savings accounts making up 63.2 percent of the total deposits. This balance illustrates the bank’s reliability and the trust placed in it by its clients.
Leadership Insights
Hesham Abdulla Al Qassim, the Chairman of Emirates Islamic, emphasized the bank’s focus on sustainable growth and prudent risk management. He stated, “Our focus remains on sustainable balance sheet growth, prudent risk management, and effective allocation of capital. These priorities position Emirates Islamic to capture growth opportunities, support customers, deliver sustainable returns to shareholders, and advance the development of Islamic finance in line with the UAE Islamic Finance and Halal Industry Strategy 2025–2031.” This strategic outlook reinforces the bank’s commitment to its vision and the broader community.
Diversification and Long-Term Strategy
Farid AlMulla, the Chief Executive Officer, remarked on the effectiveness of the bank’s diversified business model, attributing the increase in total income to the ongoing enhancement of non-funded income streams. The results underscore the strength of Emirates Islamic’s business across various segments, which has enabled sustained investment in strategic priorities. This comprehensive approach positions the bank favorably for long-term value creation, illustrating its resolve to adapt and thrive in a dynamic market environment.
In summary, Emirates Islamic’s impressive financial results reflect its robust operational framework and strategic focus. The combination of a strong profit increase, significant asset growth, and customer finance expansion highlights the bank’s effective management practices. Furthermore, the introduction of innovative digital solutions showcases its willingness to meet contemporary customer needs, securing its place as a leader in Islamic finance.