Latest news with #EmiratesIslamic
Gulf Today
6 days ago
- Business
- Gulf Today
Emirates Islamic reports Dhs1.86 billion net profit in H1 2025
Emirates Islamic has announced its financial results for the first half of 2025, reporting a net profit of Dhs1.863 billion, marking a 12 percent increase compared to the same period last year. The bank reported a record Dhs2.2 billion profit before tax in the first half of 2025, reflecting strong growth momentum. Total income rose 9 percent year-on-year to Dhs2.9 billion, driven by continued expansion in both funded and non-funded income streams. Total assets increased by 24 per cent to Dhs138 billion, while customer financing rose 13 percent to Dhs80 billion. Customer deposits showed exceptional growth, rising 27 per cent to Dhs97.4 billion. Current and Savings Account balances represented 65.5 percent of total deposits. These results highlight Emirates Islamic's position as one of the UAE's leading Islamic banks. The bank reported a Common Equity Tier 1 ratio of 17.4 per cent and a capital adequacy ratio of 18.5 per cent, underscoring its strong capital position. The Headline Financing to Deposit ratio stood at 82 per cent, within the management's target range. WAM
Al Etihad
6 days ago
- Business
- Al Etihad
Emirates Islamic reports Dh1.86 billion net profit in H1 2025
24 July 2025 13:14 DUBAI (WAM) Emirates Islamic has announced its financial results for the first half of 2025, reporting a net profit of Dh1.863 billion, marking a 12 percent increase compared to the same period last bank reported a record Dh2.2 billion profit before tax in the first half of 2025, reflecting strong growth momentum. Total income rose 9 percent year-on-year to Dh2.9 billion, driven by continued expansion in both funded and non-funded income assets increased by 24 percent to Dh138 billion, while customer financing rose 13 percent to Dh80 billion. Customer deposits showed exceptional growth, rising 27 percent to Dh97.4 and Savings Account balances represented 65.5 percent of total results highlight Emirates Islamic's position as one of the UAE's leading Islamic bank reported a Common Equity Tier 1 ratio of 17.4 percent and a capital adequacy ratio of 18.5 percent, underscoring its strong capital position. The Headline Financing to Deposit ratio stood at 82 percent, within the management's target range.
Zawya
6 days ago
- Business
- Zawya
Emirates Islamic reports $506mln net profit in H1 2025
DUBAI - Emirates Islamic has announced its financial results for the first half of 2025, reporting a net profit of AED1.863 billion, marking a 12 percent increase compared to the same period last year. The bank reported a record AED2.2 billion profit before tax in the first half of 2025, reflecting strong growth momentum. Total income rose 9 percent year-on-year to AED2.9 billion, driven by continued expansion in both funded and non-funded income streams. Total assets increased by 24 percent to AED138 billion, while customer financing rose 13 percent to AED80 billion. Customer deposits showed exceptional growth, rising 27 percent to AED97.4 billion. Current and Savings Account balances represented 65.5 percent of total deposits. These results highlight Emirates Islamic's position as one of the UAE's leading Islamic banks. The bank reported a Common Equity Tier 1 ratio of 17.4 percent and a capital adequacy ratio of 18.5 percent, underscoring its strong capital position. The Headline Financing to Deposit ratio stood at 82 percent, within the management's target range.
Hi Dubai
6 days ago
- Business
- Hi Dubai
Emirates Islamic Reports Record AED 2.2 Billion Profit Before Tax in H1 2025 Amid Strong Growth in Income and Deposits
Emirates Islamic delivered a record AED 2.2 billion profit before tax for the first half of 2025, marking a 19% year-on-year increase and reinforcing its position as one of the UAE's leading Islamic financial institutions. The performance was driven by strong growth in income, customer financing, and deposit inflows. Total income rose to AED 2.9 billion, up 9% compared to the same period last year, supported by gains across both funded and non-funded income streams. Customer financing grew 13% to AED 80 billion, while customer deposits surged by 27% to AED 97.4 billion. Current and savings account balances now make up 65.5% of the deposit base, further strengthening the bank's low-cost funding profile. Net profit for the period stood at AED 1.863 billion, up 12% year-on-year, with a healthy net profit margin of 3.74%. Operating profit improved by 6%, even as expenses rose by 15% due to continued investments in growth and technology. Chairman Hesham Abdulla Al Qassim highlighted the bank's robust performance and ongoing digital transformation. We are focused on empowering customers through enhanced digital offerings and remain committed to sustainable growth. The successful issuance of a USD 750 million Senior Unsecured Sukuk and multiple global recognitions reflect growing investor and market confidence in Emirates Islamic. The bank expanded its Shariah-compliant wealth management offerings through a partnership with Leonteq Securities AG and collaborated with DURAR OCTA on financial services for a major real estate project in Ras Al Khaimah. It also introduced new banking solutions, including the ALPHA Youth Account to promote financial literacy among the younger generation, and the Business Banking Diamond Account designed for high-value SMEs. Emirates Islamic's total assets increased by 24% to AED 138 billion in the first half of the year. The bank maintained a non-performing financing ratio of 2.8% and a strong coverage ratio of 159.9%. Its capital adequacy ratio stands at 18.5%, with a Common Equity Tier 1 ratio of 17.4%. CEO Farid AlMulla emphasised the bank's dual focus on financial performance and community engagement. We are deepening customer trust through innovation and inclusivity. Initiatives like the 'Let's Create Bankers' program and the 'EI Ambassadors' platform further invest in Emirati talent and sustainability partnerships. As Emirates Islamic continues to lead in digital transformation and Islamic finance, its strategic growth across consumer, SME, and corporate segments positions it well to support the UAE's economic ambitions. News Source: Dubai Media Office
Hi Dubai
6 days ago
- Business
- Hi Dubai
Emirates NBD Posts 12% Surge in Income to AED 23.9 billion for H1 2025 on Strong Loan Growth and Digital Innovation
Emirates NBD has reported a 12% year-on-year increase in income, reaching AED 23.9 billion for the first half of 2025. The strong performance was powered by robust loan growth, regional expansion, and innovative product offerings across its consumer and corporate banking segments. The Group's lending increased by AED 41 billion (8%) during the period, with nearly half of the growth stemming from its expanding international footprint. Deposits rose by AED 70 billion (10%), including a record AED 48 billion surge in low-cost current and savings accounts, underscoring the bank's strength in attracting stable funding sources. Operating profit also rose by 9% despite recent interest rate cuts, supported by healthy credit conditions and strategic investments in technology and regional markets. Emirates Islamic, a subsidiary of the Group, posted a record AED 1.9 billion profit in H1 2025, reaffirming its strong position in the UAE's Islamic banking sector. Vice Chairman and Managing Director Hesham Abdulla Al Qassim credited the income surge to consumer momentum and business confidence. 'We expect double-digit loan growth for the full year. Our success in retail and Islamic banking, highlighted by the rapid uptake of our SHARE credit card, reflects our ability to innovate and meet customer needs,' he said. The Group continued to expand its presence in Saudi Arabia, achieving 27% loan growth in the Kingdom. Across the board, Emirates NBD introduced new structured credit, commodity, and investment products, and launched crypto trading via Liv X in partnership with Aquanow and Zodia Custody. Group CEO Shayne Nelson emphasised the bank's transformation into a digital-first organisation. Strategic investments in Digital and GenAI have allowed us to unlock new income streams in wealth management, private banking, and regional corporate growth. With over 750,000 WhatsApp banking users and 93% of current accounts opened digitally, we are redefining customer experience. The bank's financial robustness was further reinforced by a net impairment credit of AED 0.3 billion, reflecting a positive credit environment and improved asset quality. Emirates NBD's impairment ratio improved to 2.8%, while profit before tax stood at AED 15.4 billion. Group CFO Patrick Sullivan highlighted the Group's solid balance sheet and disciplined growth strategy. Despite a higher tax rate and reduced recoveries compared to last year, we delivered AED 12.5 billion in profit. Healthy capital generation continues to fuel growth and innovation. With USD 50 billion in Assets Under Management, top ESG ratings, and recognition as a leader in digital payments and Islamic finance, Emirates NBD has firmly positioned itself as a regional financial powerhouse with a global outlook. News Source: Dubai Media Office
