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.