Assets rise to Dh153.8 billion
Total assets increased 5.5% from the end of 2025 to Dh153.8 billion during the first half, supported by growth in customer financing and deposits.
Current and savings account balances represented 65% of total deposits, providing the bank with a large proportion of lower-cost customer funding.
Farid AlMulla, CEO of Emirates Islamic, said, “Our strong capital, liquidity and diversified funding base continue to support customer growth, driving a 9.1% increase in financing and an 8.3% increase in deposits during the period.”
The bank’s headline financing-to-deposit ratio stood at 88%, remaining within management’s target range.
Expenses increase amid investment
Operating expenses rose 3% year on year to Dh900 million, reflecting continued investment in the bank’s growth plans. Its cost-to-income ratio stood at 29.1%.
Impairment allowance charges reached Dh251 million during the first half.
The non-performing financing ratio stood at 2.5%, while the bank maintained a coverage ratio of 157.5%.
Emirates Islamic reported a common equity tier-one ratio of 14.8% and a total capital adequacy ratio of 15.9%.
Digital gold and silver investments launched
Emirates Islamic became the first Islamic bank in the UAE to offer digital gold and silver investments through its EI+ mobile application, providing customers with access to Sharia-compliant investment products.
The bank also launched what it described as the UAE’s first Sharia-compliant Certificate of Deposit Programme to broaden investor options, expand its international reach and diversify its funding sources.
Sustainable finance remained a focus during the period, with the bank completing several financing facilities linked to environmental, social and governance targets.
The lender also introduced Sharia-compliant commodity hedging products, including profit-rate hedging and foreign exchange options, to help business customers manage commodity price movements and protect cash flows.
Nivetha Dayanand is Assistant Business Editor at Gulf News, where she spends her days unpacking money, markets, aviation, and the big shifts shaping life in the Gulf. Before returning to Gulf News, she launched Finance Middle East, complete with a podcast and video series.
Her reporting has taken her from breaking spot news to long-form features and high-profile interviews. Nivetha has interviewed Prince Khaled bin Alwaleed Al Saud, Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu, IMF’s Jihad Azour, and a long list of CEOs, regulators, and founders who are reshaping the region’s economy.
An Erasmus Mundus journalism alum, Nivetha has shared classrooms and newsrooms with journalists from more than 40 countries, which probably explains her weakness for data, context, and a good follow-up question.
When she is away from her keyboard (AFK), you are most likely to find her at the gym with an Eminem playlist, bingeing One Piece, or exploring games on her PS5.
