Recent Research

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  FIRST LOOK NOTES

  14 Jul 2026

  Sharjah Islamic Bank (SIB)

  BUY

  Last Closing Price

  2.90

  Target Price

  3.85

  Upside (%)

  +32.76%

  UAE Equity Research - Sharjah Islamic Bank (SIB) 2Q26 - First Look Note

  Sharjah Islamic Bank’s (SIB) net profit increased 11.9% YOY to AED 423 Mn in 2Q26, higher than our estimate of AED 373 Mn. The earnings growth was primarily supported by higher net funded income, driven by higher financing volumes, coupled with growth in non-funded income driven by rise in Investment income, partially offset by higher general & admin expenses, increased provisions, and higher corporate tax charges.

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  FIRST LOOK NOTES

  15 Apr 2026

  Sharjah Islamic Bank (SIB)

  HOLD

  Last Closing Price

  3.62

  Target Price

  3.85

  Upside (%)

  +6.35%

  UAE Equity Research - Sharjah Islamic Bank (SIB) 1Q26 - First Look Note

  Net advances rose 16.0% YOY and 2.6% QOQ to AED 46.7 Bn in 1Q26, supported by strong lending momentum across key sectors. CASA deposits remained stable at 42.7% of total deposits in 1Q26, unchanged from 4Q25, indicating a stable and low-cost funding base.

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  FIRST LOOK NOTES

  03 Feb 2026

  Sharjah Islamic Bank (SIB)

  HOLD

  Last Closing Price

  3.56

  Target Price

  3.70

  Upside (%)

  +3.93%

  UAE Equity Research - Sharjah Islamic Bank (SIB) 4Q25 - First Look Note

  Net advances expanded 19.6% YOY and 4.3% QOQ to AED 45.6 Bn, while customer deposits increased 7.6% YOY and 2.0% QOQ to AED 55.7 Bn in 4Q25. CASA deposits accounted for 42.7% of total deposits in 4Q25, compared to 42.2% in 4Q24.

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  FIRST LOOK NOTES

  13 Oct 2025

  Sharjah Islamic Bank (SIB)

  ACCUMULATE

  Last Closing Price

  2.80

  Target Price

  3.10

  Upside (%)

  +10.71%

  UAE Equity Research - Sharjah Islamic Bank (SIB) 3Q25 - First Look Note

  SIB’s funded income rose 4.7% YOY to AED 1,002 Mn in 3Q25, mainly driven by an increase in net advances, partially offset by a decline in asset yield. SIB’s net advances grew 19.5% YOY and 1.6% QOQ to AED 43.7 Bn in 3Q25, while Customer deposits grew 13.7% YOY and 3.5% QOQ to AED 54.6 Bn.

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• 

  FIRST LOOK NOTES

  17 Jul 2025

  Sharjah Islamic Bank (SIB)

  HOLD

  Last Closing Price

  2.80

  Target Price

  3.00

  Upside (%)

  +7.14%

  UAE Equity Research - Sharjah Islamic Bank (SIB) 2Q25 - First Look Note

  SIB’s funded income rose 6.8% YOY to AED 968 Mn in 2Q25, mainly driven by an increase in net advances and asset yield. SIB’s net advances grew 22.1% YOY and 6.6% QOQ to AED 43.0 Bn in 2Q25, while Customer deposits grew 6.6% YOY and 1.2% QOQ to AED 52.7 Bn.

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• 

  FIRST LOOK NOTES

  22 Apr 2025

  Sharjah Islamic Bank (SIB)

  ACCUMULATE

  Last Closing Price

  2.31

  Target Price

  2.60

  Upside (%)

  +12.55%

  UAE Equity Research - Sharjah Islamic Bank (SIB) 1Q25 - First Look Note

  SIB’s funded income rose 6.0% YOY to AED 914 Mn in 1Q25, mainly driven by an increase in net advances. SIB’s net advances grew 20.8% YOY and 7.0% QOQ to AED 40.3 Bn in 1Q25, while Customer deposits grew 15.6% YOY and 0.7% QOQ to AED 52.1 Bn in 1Q25.

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