Official name
Sharjah Islamic Bank PJSC
ADX · SIB
SI
Identity revalidation is due; this dated record is not proof of current listing status · 2026-08-11Sharjah Islamic Bank PJSC
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- H1 2026 reviewed IAS 34
Company overview
- Exchange
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- Ticker
- SIB
- ISIN
- AES000201013
- Market identifier code (MIC)
- XADS
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- ADX-SIB
- Industry evidence
- Islamic banking
- Instrument type
- Listed equity
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- H1 2026 reviewed IAS 34
- Identity evidence checked
- 2026-08-11
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- Identity revalidation is due; this dated record is not proof of current listing status
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Issuer participationProfile foundation available
Sharjah Islamic Bank PJSC · What the issuer can provide
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Why this company is in the directory
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- Sharjah Islamic Bank PJSC Available
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- XADS Available
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- SIB Available
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Ticker
SIB
Exchange and MIC
ADX · XADS
ISIN
AES000201013
Instrument type
Listed equity
Sector and industry
Financial services and insurance · Islamic banking
Listing status
Primary active route confirmed
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ADX · SIB · Company profile
Sharjah Islamic Bank: business, ownership and capital
SIB group, ownership, annual and interim results, capital, funding and risks.
Reading time: 10 min
Editorial date: 2026-08-31. Source dates and periods are stated below.
Business and history
As of: 2026-06-30
Sharjah Islamic Bank PJSC is an ADX-listed UAE bank established in 1975. Its conversion to Islamic banking was completed on 31 March 2002; establishment and conversion are different milestones. At June 2026 the group operated through 35 UAE branches, compared with 34 at year-end. Financing and investment activities follow Sharia principles and Central Bank regulation. The footprint supports a UAE-focused description, not a claim that all income is earned in Sharjah.
S1 · S1 physical12How the bank earns income
As of: 2026-06-30
The main earnings engine is income from Islamic financing and sukuk, less distributions to depositors and sukuk holders. Net fees, investment income, foreign exchange and other income then contribute to total operating income. Gross financing income and operating income must not be added together: they sit at different points in the same statement. Islamic contracts change the structure of financing, not the need to assess repayment, funding costs and collateral.
S1 · S1 physical6,12Group perimeter beyond banking
As of: 2026-06-30
The interim accounts consolidate the bank and wholly owned Sharjah National Hotels, Sharjah Islamic Securities LLC SP and ASAS Real Estate LLC SP. They cover hotels and related services, brokerage in local Sharia-compliant shares, and real estate respectively. Sukuk special-purpose vehicles are also included. The securities subsidiary's legal name here follows the accounts; a website service description is not used to invent another entity. Group earnings therefore are not a pure standalone banking measure.
S1 · S1 physical12Ownership after the capital increase
As of: 2026-06-30
The June accounts identify the Government of Sharjah as the ultimate controlling party. Sharjah Asset Management held 25.00% and Sharjah Social Security Fund 19.69%, versus 28.46% and 16.12% at December 2025. Both are identified as wholly government-owned entities. These dated percentages replace older holdings for this profile; they are not a live share register. Government control is not presented as a guarantee of deposits, securities or investment returns.
S1 · S1 physical34Annual performance and earnings quality
As of: 2025-12-31
For 2025, consolidated operating income was AED 2,485.929 million versus 2,181.143 million in 2024; profit attributable to bank shareholders was 1,317.461 million versus 1,047.885 million. Net fees increased, while investment income declined. Property revaluation produced a gain of 76.153 million, compared with a loss of 42.772 million. Thus the improvement was not solely recurring banking growth. Revaluation is distinct from cash collected from customers and should not be assumed to recur.
S2 · S2 physical10Half-year results: growth was not uniform
As of: H1 2026 versus H1 2025
H1 2026 operating income reached AED 1,401.032 million against 1,162.524 million a year earlier. Net financing and investment-product income rose to 955.296 million from 750.084 million. Net fees, however, fell to 271.433 million from 276.023 million. Profit after tax increased to 803.899 million from 697.198 million. These are six-month comparisons, not second-quarter figures or annual forecasts. Different movements across income lines matter more than a blanket claim that every revenue stream improved.
S1 · S1 physical6| Metric / unit | H1 2025 flows / 31 Dec 2025 balances | H1 2026 flows / 30 Jun 2026 balances | Sources |
|---|---|---|---|
| Operating income · AED million | 1162.524 | 1401.032 | S1 · S1 physical6, printed5 |
| Net financing and investment-product income · AED million | 750.084 | 955.296 | S1 · S1 physical6, printed5 |
| Net fee and commission income · AED million | 276.023 | 271.433 | S1 · S1 physical6, printed5 |
| Profit attributable to bank shareholders · AED million | 697.198 | 803.899 | S1 · S1 physical6, printed5 |
| Total assets · AED million | 90313.099 | 94545.094 | S1 · S1 physical5, printed4 |
| Islamic financing, net · AED million | 45550.062 | 49873.452 | S1 · S1 physical5, printed4 |
| Customer deposits · AED million | 55672.922 | 59367.812 | S1 · S1 physical5, printed4 |
| Equity including Tier 1 sukuk · AED million | 9530.076 | 12177.368 | S1 · S1 physical5, printed4 |
| CET1 ratio · % | 11.88 | 15.63 | S1 · S1 physical19, printed18 |
| Capital adequacy ratio · % | 16.17 | 19.48 | S1 · S1 physical19, printed18 |
Costs and credit risk
As of: H1 2026; balances 2026-06-30
Administrative expenses increased to AED 475.225 million from 405.370 million. A net impairment charge of 41.260 million replaced a 9.302 million reversal, so credit costs became a headwind. Gross Stage 3 Islamic financing was 1,845.985 million at June, compared with 1,779.249 million at December. This is a stock before its loss allowance, not the period's impairment expense. A larger financing portfolio should be assessed alongside problem exposures, recoveries and collateral, not taken as proof of better asset quality.
S1 · S1 physical6,17Funding and liquidity
As of: 2026-06-30 versus 2025-12-31
Assets increased to AED 94,545.094 million from 90,313.099 million. Islamic financing was 49,873.452 million and customer deposits 59,367.812 million at June. Amounts due to banks fell to 13,890.926 million from 16,309.374 million. Deposits are a core bank funding source, not industrial debt to subtract mechanically from cash. Sukuk payable of 5,481.580 million comprises maturities in July 2029, February 2030 and November 2030. Maturity management and depositor behaviour remain important even when the balance sheet grows.
S1 · S1 physical5,27Rights issue and regulatory capital
As of: 2026-06-30
The completed rights issue added 1,078,559,212 shares at AED 2.4 each. Issued shares reached 4,314,236,850; capital raised is not operating income. CET1 increased to 15.63% from 11.88%, and total capital adequacy to 19.48% from 16.17%. These are regulatory ratios, not accounting profit margins. The balance sheet also includes AED 1,836.500 million of perpetual Additional Tier 1 sukuk in equity. Its discretionary distributions and lack of fixed maturity distinguish it from ordinary deposits and dated senior sukuk.
S1 · S1 physical19,28What to monitor, without a price target
As of: 2026-06-30
Editorially, the next test is whether additional capital supports financing growth without weaker underwriting or excessive funding costs. Monitor net financing income, fee trends, impairment charges and capital consumption together. Exposure to property through subsidiaries and investments adds valuation and business-cycle sensitivity; profit-rate movements affect financial assets and liabilities. These are risks to examine, not forecasts that losses will occur. Neither the rights issue nor government control establishes that the shares are cheap.
S1 · S1 physical16,17,28; S2 physical10 S2 · S1 physical16,17,28; S2 physical10Official contacts and source dates
As of: 2026-08-31 website; 2026-05-14 disclosure
The official website is sib.ae, with an Investor Relations section under About Us. The bank's public correspondence lists P.O. Box 4, Sharjah, telephone +971 6 599 9999 and info@sib.ae. The website's domestic service number is 600 742. These are corporate/customer channels, not an inferred personal or dedicated IR contact. Use the official channel to confirm service availability. Ownership and financial balances in this profile are dated June 2026; website observations are dated 31 August 2026 GST.
S3 · S3; S4 S4 · S3; S4How to read these figures
As of: 2026-08-31
Annual 2025 statements are audited; June 2026 condensed consolidated accounts received an IAS 34 interim review, not an annual audit. Annual profits, half-year flows and balance-sheet dates are kept separate below. The official ADX archive supplied the June report; the bank's accessible IR index still displayed Q1 during this check, so it should not be treated as proof that no later report exists. The ADX link may restrict automated access. This is original editorial reporting, not certification of the complete accounts or investment advice.
S1 · S1 physical3,4; S2 physical3; S4 S2 · S1 physical3,4; S2 physical3; S4 S4 · S1 physical3,4; S2 physical3; S4Sources
- S1 · SIB condensed consolidated interim financial statements — six months ended 30 June 2026 · 2026-06-30
- S2 · SIB annual consolidated financial statements 2025 · 2025-12-31
- S3 · SIB ownership change notification, 14 May 2026 — corporate contact footer · 2026-05-14
- S4 · SIB official investor relations and contact pages · 2026-08-31
Business model
UAE-focused Sharia-compliant group: retail, business, corporate and government financing; customer deposits; sukuk and treasury; transaction/fee income; plus wholly owned real-estate/property-management, brokerage and hospitality subsidiaries.
Sharjah Islamic Bank: the lender that also runs hotels
A lender that also runs hotels
Anyone comparing Sharjah Islamic Bank's 33.9% cost-to-income against a conventional peer is comparing a hotel operator too. Sharjah National Hotels, wholly owned, operates hotels, resorts and catering inside the same consolidation as the financing book. Beside it sit two more fully owned businesses — ASAS Real Estate LLC SP in property and Sharjah Islamic Securities LLC SP in Sharia-compliant securities brokerage — plus three Cayman Islands issuance vehicles, SIB Sukuk Company III Limited, SIB Tier 1 Sukuk Company Limited and SIB Tier 1 Sukuk IIND Limited. The banking network itself was 34 branches at 31 December 2025, one more than a year earlier. The property arm leaves its mark on the income statement: revaluation losses of AED 92.050m, AED 33.616m, AED 218.420m and AED 42.772m ran through the four years to 2024, the largest of them alone equal to a quarter of that year's profit.
The largest shareholder and the largest borrower are the same government
At 30 June 2026 financing to government departments and authorities was AED 22.183bn and real-estate financing AED 13.276bn — together 68.76% of a gross book of AED 51.569bn. The issuer also describes the Government of Sharjah as its majority shareholder, held through Sharjah Asset Management LLC and the Sharjah Social Security Fund. Both ends of the balance sheet therefore lean on one emirate, and neither the exact post-rights ownership percentages nor a quantified related-party table is published, so the overlap can be seen but not measured.
Five years that added AED 35bn of assets
Assets went from AED 54.957bn to AED 90.313bn, up 64.3%, and reached AED 94.545bn at the half year. Net Islamic financing rose 57.0% to AED 45.550bn and then AED 49.873bn; customer deposits 44.6% to AED 55.673bn and then AED 59.368bn; operating income 74.2% to AED 2.486bn. Profit went AED 514.072m, AED 650.914m, AED 851.540m, AED 1,047.885m, AED 1,317.461m — up 156.3% — with the half year at AED 803.899m. One year in that series is not single-valued: FY2023 appears both as originally reported profit of AED 851.540m and as a represented comparative of AED 841.540m, with pre-impairment profit of AED 1,290.568m against AED 1,280.568m. The gap is exactly AED 10.000m in both lines and no note explains it, so any five-year growth rate through 2023 depends on which version is used.
A third more share capital bought three basis points of return
The 2026 rights issue created 1,078,559,212 shares at AED 2.40, raising AED 2,583.542m and lifting ordinary share capital from AED 3,235.678m to AED 4,314.237m; the new shares began trading on 19 May 2026. Common equity Tier 1 capital rose 45.78% to AED 9.914bn while risk-weighted assets rose 10.83% to AED 63.442bn, taking the ratio from 11.88% to 15.63%, total capital from 16.17% to 19.48% and leverage to 11.21%. Management's return on average equity moved from 14.78% to 14.81% annualised. Credit moved in two directions at once: the Stage 3 share fell from 3.76% to 3.58% while the absolute balance rose from AED 1.779bn to AED 1.846bn, and specific Stage 3 cover fell from 66.04% to 62.89% as total provisions shrank to AED 1.695bn. Management states 3.6% non-performing financing with 106.5% coverage; provisions divided by Stage 3 give 91.83%. Financing outgrew deposits, lifting the ratio from 81.8% to 84.0%, with eligible liquid assets at 16.58% point-in-time against an 18.60% quarterly average.
Where this file runs out
The Pillar III rows for liquidity coverage and net stable funding are blank, so those two ratios have no value here at all. Post-rights shareholder percentages, executable float and foreign room are undisclosed, as is the current board roster with its independence classification. There is no quantified related-party schedule for the half year, no count of Sharia non-compliance incidents or purification income, and no complete dividend chain from proposal to payment for 2025. Stage migrations, cures, redefaults and collateral coverage are absent, and profit is never split between the bank and the hotel, brokerage and property arms. Nothing here recommends anything.
The old summary table is temporarily withheld because its display did not preserve the exact relationship between metrics, periods and labels. This is a limitation of the website table, not a claim that the issuer did not disclose the data. The review text and sources are preserved. Review documents and sources.
Key reported figures
How to read this company's economics
Numerical values remain in the separate source-document checkHow the operating model becomes revenue and cash
A financial institution can earn from lending or financing, exchange, brokerage, asset management, investment holdings, transaction fees or capital markets. Each activity carries a different balance-sheet and regulatory perimeter.
Five questions before reading the headline
1. What created demand?
Identify the exact fee, spread, asset, transaction or investment exposure creating income.
2. What was actually delivered?
Separate client activity, assets under management and proprietary balance-sheet exposure.
3. What determines the margin?
Reconcile recurring fees and spreads with fair-value, realised and one-off gains.
4. Where is cash tied up?
Trace liquidity, receivables, client money, funding, leverage and regulatory capital.
5. What must be funded next?
Read growth against licences, risk limits, capital needs and the exact legal entity.
Official-source snapshot
What the company does and where to verify it
A manually reviewed, paraphrased snapshot from issuer and official market records. Each field keeps its exact source and verification date.
Business in plain language
A Sharjah-based Islamic bank providing Sharia-compliant retail, corporate, investment and treasury services to individuals, businesses and institutions.
- Official website
- https://www.sib.ae/Source · Sharjah Islamic Bank · Official website
- Investor relations
- https://www.sib.ae/en/about-us/investor-relationsSource · Investor Relations · official document index
- Official reports
- https://www.sib.ae/en/about-us/investor-relationsSource · FY2025 audited consolidated financial statements
Bank analytical model
The metrics below define the correct analytical lens for this business model. They contain no company values: a value appears only after official-document provenance and editorial verification.
- P/B and ROE
- Price-to-book must be read together with return on average equity and the same reporting scope.
- NIM
- Net interest or financing margin on the issuer-disclosed average earning-asset basis.
- NPL ratio
- Non-performing loans or financing divided by the disclosed gross credit exposure.
- Provision coverage
- Credit-loss allowances relative to non-performing exposure, preserving collateral and write-off policy.
- CASA
- Current and savings accounts as a share of customer deposits on the issuer-reported basis.
- Cost of risk
- Credit impairment charge divided by the disclosed average loan or financing base.
- CET1 and capital adequacy
- Regulatory capital ratios reported for the stated entity, date and supervisory basis.
What changed
Full company chronologyVerified company activity
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Sources
Identity evidence
- Identity evidence
- Exchange-hosted evidence
- Identity record checked
- 2026-08-11
- Evidence host
- www.adx.ae
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