Bank of Sharjah Reports Strong Financial Growth for 2025
Robust Profit Increase
In a recent announcement, Bank of Sharjah revealed its financial performance for the nine months ending on September 30, 2025. The bank reported a net profit of AED 435 million, marking a significant increase of 47% compared to AED 296 million during the same period in 2024. For the third quarter of 2025, net profit rose to AED 166 million, representing a solid 33% growth from AED 125 million in Q3 2024.
These impressive figures emphasize the bank’s dedication to sustainable and profitable growth, reflecting a robust business strategy that is yielding tangible results.
Key Performance Indicators
Several key performance metrics showcased substantial improvements. Net interest income surged by 60%, reaching AED 514 million, while operating income climbed by 46% to AED 713 million. The cost-to-income ratio also saw positive movements, enhancing to 29.9% from 36.4% in the previous year. This improvement can be attributed to rigorous cost management and operational efficiency, which have been prioritized across the bank’s operations.
Balance Sheet Expansion
Bank of Sharjah’s balance sheet has experienced steady growth, with total assets reaching AED 49.6 billion, reflecting a 14% increase from December 2024. The growth in net loans and advances was notable, increasing by 26% to AED 30.7 billion, a clear indicator of robust lending activities and successful execution of wholesale banking transactions. Furthermore, customer deposits rose by 11% to AED 33.1 billion, enabling the bank to maintain a healthy loan-to-deposit ratio of 92.7%, which is crucial for liquidity and operational stability.
Leadership Insights
Sheikh Mohammed bin Saud Al Qasimi, the Chairman of Bank of Sharjah, highlighted the bank’s ongoing commitment to strong performance and strategic consistency in his remarks about the quarterly results. He noted that the financial outcomes for the first nine months of 2025 reiterate the bank’s financial resilience and commitment to governance. The Chairman emphasized how the bank’s expanding balance sheet, diversified income sources, and improved asset quality underscore its capability to thrive in a dynamic market environment.
As Sheikh Mohammed stated, the bank remains steadfast in its principles of stability and integrity. The focus will continue to be on consistent growth and sound risk management to support the broader economic development and financial strength of the UAE.
CEO’s Perspective
Mr. Mohamed Khadiri, the CEO of Bank of Sharjah, expressed his satisfaction with the bank’s performance, emphasizing the significance of achieving AED 435 million in net profit—surpassing the previous year’s total profits. With returns on equity and assets reaching multi-year highs, Khadiri pointed out that the bank’s strategic execution is translating into meaningful outcomes across various business areas.
His remarks acknowledged the factors contributing to this quarter’s success, including strong client activity and disciplined cost management, which resulted in a cost-to-income ratio below 30%. The CEO reinforced that the bank is well-positioned for the future, supported by healthy loan growth, solid liquidity, and improving credit quality.
A Historical Perspective
Established in 1973 through a directive from His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, the Bank of Sharjah was the first commercial bank in the emirate of Sharjah. It was significant not only as the fifth bank in the UAE Federation but also as the first bank to allocate 40% of its capital for public subscription. Since its inception, it has remained committed to serving the banking needs of the local community while prioritizing financial stability and growth.
Conclusion
With a firm foundation and disciplined execution of strategic priorities, Bank of Sharjah appears well-equipped to continue its trajectory of superior performance and long-term value creation for all its stakeholders. The bank’s solid growth position and commitment to sound governance are likely to sustain its positive momentum moving forward.
