Dubai Islamic Bank (DIB) posted 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. Pre-tax profit increased 1% year-on-year to AED4.334 billion.
In a statement released on Tuesday, the bank said gross revenue rose 10% to AED12.439 billion, compared with AED11.354 billion in the first half of 2025, driven by continued expansion in both funded and non-funded income.
Operating profit climbed 6% to AED4.823 billion, while net financing assets expanded 7% since the beginning of the year to AED281 billion. The bank originated AED43 billion in new financing during the six-month period.
Customer deposits increased 2% to AED327 billion, and total assets reached AED423 billion by the end of the reporting period.
Mohammed Ibrahim Al-Shaibani, Chairman of DIB, said the first half of 2026 was marked by a challenging global environment shaped by geopolitical uncertainty, evolving interest rate expectations and fluctuating market sentiment.
He noted that the UAE economy continued to demonstrate resilience, supported by diversification efforts, prudent policymaking and a robust financial sector. Dubai’s economy grew 2.4% year-on-year in the first quarter of 2026, with GDP reaching AED232 billion.
Al-Shaibani said DIB’s financial performance underscored the strength of its governance framework, disciplined capital allocation and solid balance sheet. He added that the successful issuance of a $1 billion Additional Tier 1 sukuk highlighted investor confidence, strengthened the bank’s credit profile and enhanced its ability to support future growth.
Group Chief Executive Officer Dr. Adnan Chilwan said the bank delivered a solid first-half performance, with revenue growth supported by strong contributions from both financing and fee-based income, alongside sustained demand for its Sharia-compliant banking products.
He said operating profit increased to AED4.8 billion, while pre-tax profit reached AED4.3 billion. Net profit after tax remained steady at AED3.7 billion, with the bank maintaining a pre-tax return on tangible equity of nearly 20%, reflecting a continued focus on sustainable profitability.
Chilwan added that balance sheet growth remained disciplined, supported by healthy financing demand across both retail and wholesale banking segments. Asset quality also improved, with the non-performing financing ratio declining to 2.4%, cost of risk remaining low at 28 basis points and cash coverage reaching 122%.
The bank maintained strong capital and liquidity metrics, 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 also recorded continued progress in digital banking, with the number of registered users increasing 16% compared with a year earlier.
In support of its sustainability strategy, the bank extended AED3.1 billion in sustainable finance and AED2.1 billion in sustainability-linked financing during the first half of the year.
