Emirates Islamic achieved a record profit before tax of AED2.2 billion ($599 million) in the first half of 2025, showcasing strong growth momentum. Total income rose 9 percent year-on-year to AED2.9 billion, propelled by ongoing expansion in both funded and non-funded income streams. Customer financing increased by 13 percent to AED80 billion, while customer deposits exhibited exceptional growth, climbing 27 percent to AED97.4 billion. Current and Savings Account balances now account for 65.5 percent of total deposits. These results underscore Emirates Islamic’s status as one of the UAE’s leading Islamic banks.
In the first half of 2025, Emirates Islamic demonstrated a strong operating performance driven by higher funded and non-funded income, with total income increasing 9 percent year-on-year. Expenses rose by 15 percent year-on-year, reflecting ongoing investments to foster growth. Impairment allowances were credited at AED136 million, while operating profit improved by 6 percent year-on-year. Net profit rose to AED1.863 billion, representing a 12 percent increase, and the net profit margin remained healthy at 3.74 percent.
Strong capital and liquidity position
The bank‘s robust capital and liquidity, combined with a favorable deposit mix, empower it to offer enhanced products to customers. Total assets surged by 24 percent to AED138 billion during the first half of 2025, with customer financing at AED80 billion increasing by 13 percent and customer deposits at AED97.4 billion rising by 27 percent, while Current and Savings Account balances constituted 65.5 percent of deposits. The credit quality remained sound, with a non-performing financing ratio at 2.8 percent and a strong coverage ratio at 159.9 percent. The Common Equity Tier 1 ratio stood at 17.4 percent, and the capital adequacy ratio reached 18.5 percent, reflecting the bank’s solid and stable capital position. The headline financing to deposit ratio was at 82 percent, comfortably within management’s target range.
Hesham Abdulla Al Qassim, chairman of Emirates Islamic, stated, “Emirates Islamic has reported a record profit before tax of AED2.2 billion for the first half of 2025, increasing 19 percent year-on-year. The net profit margin stands healthy at 3.74 percent, while operating profit improved by 6 percent year-on-year. Emirates Islamic continues to deliver strong results and accomplish its key objectives with an increasing focus on technology, new services, and sustainability. We remain committed to strengthening our digital offerings to our individual, SME, and corporate customers by consistently making strategic investments in technological solutions. With the UAE’s economy continuing to be buoyant, Emirates Islamic is proud to play an integral part in the nation’s growth story. The bank successfully issued a USD750 million Senior Unsecured Sukuk in the first half of 2025, which was positively received by the regional and global investor community.”
Growing recognition in global Islamic banking
“This milestone emphasizes the increasing recognition of Emirates Islamic among the global investor community as Islamic banking continues to see strong growth globally while delivering increasingly sophisticated products. Emirates Islamic is committed to ensuring the proceeds are used to help in the growth of the UAE economy. We recently partnered with Leonteq Securities AG to expand the bank’s Shariah-compliant Wealth Management offerings and signed an agreement with DURAR OCTA to facilitate financial management for an upcoming luxury real estate project in Ras Al Khaimah,” he noted.
“The bank has received due recognition for its performance and leadership in the Islamic banking sector by winning a number of prestigious global awards in the first half of 2025. At the Euromoney Islamic Finance Awards, the bank won the award for ‘The World’s Best Islamic Digital Bank’ and seven other awards, while at the Global Finance – Best Islamic Financial Institutions Awards, the bank won the awards for ‘Best Islamic Corporate Bank in the World’ and ‘Best Islamic Financial Institution in the UAE. As a bank deeply rooted in the UAE, we are committed to the ongoing career growth of UAE Nationals at Emirates Islamic. With an Emiratisation rate of 42.3 percent, we continue with our efforts to attract and develop Emirati talent to become the future leaders of the country,” Al Qassim highlighted.
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Continued growth momentum in 2025
Farid AlMulla, chief executive officer of Emirates Islamic, said, “Emirates Islamic’s growth momentum continued in the first half of 2025, with total income at AED2.9 billion, increasing by 9 percent year-on-year driven by higher funded and non-funded income. Total assets increased significantly by 24 percent to AED138 billion during the first half of 2025, while customer financing increased by 13 percent to AED80 billion. Customer deposits have shown remarkable growth, rising by 27 percent to AED97.4 billion with Current and Savings Account balances at 65.5 percent of deposits. During the first six months of the year, the bank reinforced its ongoing commitment to community empowerment and financial inclusion through Islamic Banking by introducing the ALPHA Youth Account. The solution encourages parents to empower their children with essential financial literacy skills and introduce them to financial independence at an early age.”
“Emirates Islamic strengthened its dedication to banking excellence and empowering SMEs while contributing to the UAE’s thriving business ecosystem by launching the Business Banking Diamond Account, crafted for high-value SMEs. We continue to secure strategic partnerships that drive digital innovation to enhance customer experiences. Emirates Islamic recently partnered with the Sharjah Real Estate Registration Department to enhance the efficiency of real estate registration and financing procedures. Emirates Islamic recognizes its workforce as a foundational pillar of success. The bank launched several specific initiatives for employees including the “Let’s Create Bankers Initiative,” which supports learning, development, and growth of selected Emirati talent across the business, and the “EI Ambassadors Programme” that focuses on collaboration between the bank and external partners for sustainability activities,” AlMulla emphasized.
