57 % growth in net profits of Sharjah Bank in the first half

Sharjah on July 22 / WAM / Sharjah Bank achieved a strong financial performance during the first half of this year, recording record net profits of 268 million dirhams, which represents a qualitative leap of 57 % on an annual basis compared to the profits of the same period last year, which amounted to 171 million dirhams.

This growth is supported by a strong momentum in the second quarter of this year, which witnessed a net profit of 152 million dirhams, an increase of 31% over the profits of the first quarter of 116 million dirhams.

The financial results of the first half reflect the effectiveness of the bank’s strategic focus on achieving sustainable growth, as all the main performance indicators witnessed a remarkable improvement, and this strong performance came driven by the increase in the income and non -fund To control the costs, as these positive results highlight the foundations of the bank’s strong business, its operational efficiency, its wise management of the risks and its continuous commitment to enhance the value of the shareholders.

The results of the first half of Sharjah Governorate also showed a strong public budget, as the rate of loans to deposits reached 93%while maintaining very comfortable proportions of liquidity, as the bank maintained the durability of its capital base, as the percentage of capital adequacy reached 14%, and other drawing indicators, including the first segment of the capital (Tier 1), and the percentage of ordinary shares in the first segment (CET1), recorded about 13%.

Commenting on these results, Sheikh Mohammed bin Saud Al Qasimi, Chairman of the Board of Directors of Sharjah Bank, stressed that the bank has maintained its strong momentum during the first half of 2025, based on the strong results achieved in the first quarter, and said that the net profit that was achieved reflects the continuity of improvement in operational performance, efficiency of operations and financial flexibility, indicating that these results were supported by a stable growth in the public budget and diversity in Business portfolio and improvement of operational capabilities, as well as follow a cautious approach in risk management.

Sheikh Muhammad bin Saud Al Qasimi stressed the confidence of the board of directors in the strategic orientation of the bank, saying: We are confident in our ability to achieve sustainable and long -term returns with our continuous commitment to the principles of good governance and conservative credit policies.

Mohamed Khadiri, CEO of Sharjah Bank, said that the bank’s plan for the strategic transformation is witnessing remarkable progress, and embodies its results in the first half of the year the extent of progress that the bank continues to score through various business lines, pointing to success in developing the bank’s public budget and expanding and enhancing relations with customers as well as improving integration between products and services, which contributed to achieving strong and comprehensive results.

He explained that the bank continues to focus on achieving sustainable and profitable growth, by employing capital efficiently and applying best practices in risk management, noting that the bank is in a location that qualifies it to achieve rewarding returns for shareholders and active contribution to the growth and diversity of the Emirati economy thanks to the strong foundations and continuous improvement in performance indicators.

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