Photo Credit : WAM
Dubai Islamic Bank (DIB) reported a net profit after tax of AED3.736 billion for the first half of 2026, broadly unchanged from AED3.73 billion recorded during the same period last year, while pre-tax profit increased 1% year-on-year to AED4.334 billion.
The UAE’s largest Islamic bank said gross revenue rose 10% to AED12.439 billion, up from AED11.354 billion a year earlier, supported by continued growth in both funded and non-funded income streams.
Operating profit increased 6% to AED4.823 billion, while net financing assets expanded 7% since the beginning of the year to AED281 billion. The bank also originated AED43 billion in new financing during the first six months of 2026.
Customer deposits reached AED327 billion, reflecting a 2% increase, while total assets grew to AED423 billion, reinforcing the bank’s strong balance sheet.
Mohammed Ibrahim Al-Shaibani, Chairman of DIB, said the first half of 2026 was shaped by geopolitical uncertainty, changing interest rate expectations and fluctuating market sentiment. Despite these global challenges, he said the UAE economy continued to demonstrate resilience through economic diversification, prudent policymaking and a robust financial sector.
He highlighted that Dubai’s gross domestic product reached AED232 billion in the first quarter of 2026, representing 2.4% year-on-year growth.
Al-Shaibani said DIB’s results reflected disciplined governance, strong capital management and prudent balance sheet strategies. He also noted that the bank’s successful US$1 billion Additional Tier 1 sukuk issuance strengthened its access to international capital markets while supporting future growth opportunities.
Group Chief Executive Officer Dr. Adnan Chilwan said the bank maintained solid earnings momentum, driven by sustained demand for its Sharia-compliant banking products and services across both retail and wholesale banking segments.
He said operating profit reached AED4.8 billion, pre-tax profit stood at AED4.3 billion, while post-tax profit remained stable at AED3.7 billion. The bank also maintained a pre-tax return on tangible equity close to 20%, reflecting its focus on delivering sustainable shareholder returns.
Chilwan added that asset quality continued to improve, with the non-performing financing ratio declining to 2.4%, while the cost of risk remained low at 28 basis points and cash coverage improved to 122%.
The bank also maintained strong capital and liquidity positions, reporting a Common Equity Tier 1 ratio of 13.0%, a capital adequacy ratio of 16.1%, a liquidity coverage ratio of 140%, and a net stable funding ratio of 105%.
DIB’s digital transformation also continued to gain momentum, with registered digital banking users increasing 16% compared with the same period last year.
In line with its sustainability strategy, the bank said it extended AED3.1 billion in sustainable finance and provided an additional AED2.1 billion in sustainability-linked financing since the start of 2026.
