Recent Research

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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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  FIRST LOOK NOTES

  18 Apr 2025

  Sharjah Islamic Bank (SIB)

  HOLD

  Last Closing Price

  2.32

  Target Price

  2.60

  Upside (%)

  +12.07%

  UAE Equity Research - Sharjah Islamic Bank (SIB) - Earnings Flash

  Sharjah Islamic Bank reported a net profit of AED 318.9 Mn in 1Q25, reflecting a 24.6% year-on-year (YoY) increase compared to AED 255.9 Mn in 1Q24, mainly driven by significant rise in non-profit income, reflecting the focus on diversifying revenue streams through fee-based activities and other non-financing income sources.

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  FIRST LOOK NOTES

  03 Feb 2025

  Sharjah Islamic Bank (SIB)

  HOLD

  Last Closing Price

  2.64

  Target Price

  2.60

  Upside (%)

  -1.52%

  UAE Equity Research - Sharjah Islamic Bank (SIB) 4Q24 - First Look Note

  SIB’s net funded income increased 10.4% YOY to AED 406 Mn in 4Q24. Provisions increased significantly from AED 48 Mn in 4Q23 to AED 110 Mn in 4Q24. The Bank’s cost-to-income ratio increased from 39.4% in 4Q23 to 45.4% in 4Q24 owing to increase in operating expenses.

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