In the first quarter of 2025, income from Sukuk and Islamic finance investments increased by Dhs56.2 million to Dhs914.3 million. Sharjah Islamic Bank (SIB) began 2025 on a strong financial footing, reporting a net profit after tax of Dhs318.9 million in the first quarter, representing a 24.6% increase from Dhs255.9 million in the same period in 2024.
Compared to Dhs858.1 million in the first quarter of 2024, income from investments in Sukuk and Islamic finance increased by Dhs56.2 million, or 6.6%, to Dhs914.3 million in the first quarter of 2025.
SIB’s stability in net income and its capacity to strike a balance between financing expansion and an equitable profit distribution mechanism that complies with Sharia standards are demonstrated by the overall distributions to depositors and Sukuk holders, which totalled Dhs546.9 million, compared to Dhs490.0 million. Additionally, it illustrates the Bank’s ability to sustain steady revenue despite fluctuating funding costs and market pressures on price.
As demonstrated by a notable increase in net fee and commission income, which rose by 38.3% to Dhs107.6 million in the first quarter of 2025 from Dhs77.8 million in the first quarter of 2024, Sharjah Islamic Bank continues to place a strong emphasis on diversifying its revenue sources.
Consequently, the Bank’s overall operating income increased by Dhs27.0 million, or 5.3%, to Dhs531.7 million from Dhs504.7 million during the same period previous year. This increasing trend demonstrates how the Bank has successfully capitalised on opportunities in various economic sectors while maintaining steady operational revenue in a shifting economic climate.
Also Read:
Abraam Samy’s Journey From A Seasoned Marketing Expert To Entrepreneur
Offering Excellence In Facilities Management Across The UAE With UCWF: Mani Moorthy
About Author
