Building on the momentum it achieved in 2024, Emirates Islamic reported today a record quarterly net profit of AED1 billion ($272.25 million) for the first quarter of 2025, a 24 percent year-on-year increase. With continued positive business sentiment in the UAE, both funded and non-funded income increased during the quarter, driving total income 8 percent higher to AED1.45 billion in Q1 2025.
“The bank successfully issued a $750 million Senior Unsecured Sukuk in the first quarter of 2025. This successful benchmark issue reflects the increasing recognition of Emirates Islamic among the global investor community, evidenced by over $1.6 billion of demand from local and international investors,” stated Hesham Abdulla Al Qassim, chairman of Emirates Islamic.
Total assets rise to AED123 billion
The bank’s expenses increased by 15 percent annually as it continued to invest in driving growth. It also achieved an impairment allowances credit of AED169 million due to strong recoveries.
In the first quarter of 2025, Emirates Islamic’s operating profit improved 5 percent annually. Strong capital and liquidity, combined with a healthy deposit mix, enable the bank to continue supporting customers. The bank also reported an 11 percent increase in total assets to AED123 billion.
Customer financing increased by 7 percent to AED75 billion during the first quarter of 2025. Meanwhile, customer deposits rose 8 percent to AED83 billion, with Current Account and Savings Account balances at a very healthy 71 percent of total deposits.
“Emirates Islamic continues to be at the forefront of driving digital banking innovation in the Islamic financial services sector, providing our customers with best-in-class solutions through our digital banking channels. We continue to add innovative services to our digital banking platforms, giving our retail and business customers the convenience of banking anytime, from anywhere,” noted Farid AlMulla, CEO of Emirates Islamic.
Read: Emirates NBD’s profit before tax rises 56 percent to $2.12 billion in Q1 2025
Emirates Islamic achieves Emiratization ratio of 39.8 percent
With a strategic goal of empowering youth and enhancing financial literacy, the bank joined hands with the Community Development Authority and Zayed University to educate students on financial management and planning strategies for a more stable future. This is in line with the Dubai Social Agenda 33, which aims to keep pace with Dubai’s future ambitions and enhance its social protection and empowerment initiatives.
In another youth-focused initiative, Emirates Islamic launched the ‘The Emirates Islamic Ultimate Football Clash’, a week-long gaming tournament in partnership with Visa, which brought together gaming enthusiasts for a week full of engaging activities and healthy competition.
As an employer of choice for UAE Nationals, Emiratization continues to be a strategic priority for Emirates Islamic. With an Emiratization ratio of 39.8 percent, the bank continues to attract and develop Emirati talent, supported by advanced training and upskilling programs.
“We recently tied up with prominent universities, including Skyline University and the American University in the Emirates, for a host of educational collaborations,” added AlMulla.
