Latest news with #BankofSharjah
Zawya
2 days ago
- Business
- Zawya
Bank of Sharjah reports 57% jump in H1 2025 net profit to AED 268mln
Sharjah, UAE – Bank of Sharjah has announced its financial results for the period ended 30 June 2025. The Bank posted a net profit of AED 268 million for the first half of 2025, compared to AED 171 million for the same period last year, representing a 57% year-on-year increase. On a quarterly basis, net profit rose to AED 152 million in Q2 2025, a 31% increase over the AED 116 million posted in Q1 2025. The exceptional results for H1 2025 underscore the Bank's strategic focus on sustainable growth. All key performance indicators showed significant improvement, with strong contributions from both funded and non-funded income. This led to a 55% rise in net interest income and 51% increase in operating income. At the same time, the cost-to-income ratio improved to 31%, supported by the Bank's continued commitment to strict cost controls. These results reflect the Bank's core strength, operational efficiency, prudent risk management, and its ongoing efforts to enhance shareholder value. The balance sheet remains robust, with a loan-to-deposits ratio of 93%, and liquidity maintained at highly comfortable levels. These results also highlight the Bank's strong capital position, with capital adequacy ratio of 14%, and Tier1/CET1 capital ratios standing at around 13%. Commenting on the Bank's results, Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, said: "Bank of Sharjah has maintained strong momentum in the first half of 2025, building on the solid results achieved in the first quarter. Our record net profit reflects enhanced business performance, operational efficiency, and financial resilience. These results are driven by steady balance sheet growth, a well-diversified business mix, improved operational capabilities, and a prudent approach to risk." Reaffirming the Board's confidence in the Bank's strategic direction, Sheikh Mohammed bin Saud Al Qasimi added:"We remain confident in our ability to deliver sustainable, long-term returns, while maintaining conservative risk management and corporate governance." Also expressing delight at the Bank's performance, Mr. Mohamed Khadiri, CEO of Bank of Sharjah, commented: "Our strategic transformation is well underway, and our first-half performance reflects the tangible progress we are making across all business lines. We have successfully expanded and diversified our balance sheet, strengthened customer relationships, and improved cross-selling capabilities, delivering solid results." Looking ahead, Mr. Khadiri further added: "Bank of Sharjah remains firmly focused on sustainable, profitable growth, through prudent capital deployment and sound risk governance. With a strong foundation and improving fundamentals, we are well positioned to deliver consistent returns for our shareholders while contributing to the ongoing growth and diversification of the UAE economy." About Bank of Sharjah: Bank of Sharjah was established on December 22, 1973, through a decree issued by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, UAE Supreme Council Member and Ruler of Sharjah. Banking operations started in May 1974. The Bank was the first commercial bank in Sharjah, the fifth in the Federation and the first to make 40% of its capital available for public subscription. For media inquiries, please contact: Amir AlSalous Chief Marketing and Corporate Communications Officer, Bank of Sharjah
Zawya
2 days ago
- Business
- Zawya
Bank of Sharjah posts net profit of $73mln in H1 2025
SHARJAH: Bank of Sharjah has announced its financial results for the period ended 30th June 2025. The Bank posted a net profit of AED268 million for the first half of 2025, compared to AED171 million for the same period last year, representing a 57 percent year-on-year increase. On a quarterly basis, net profit rose to AED152 million in Q2 2025, a 31 percent increase over the AED116 million posted in Q1 2025. The exceptional results for H1 2025 underscore the Bank's strategic focus on sustainable growth. All key performance indicators showed significant improvement, with strong contributions from both funded and non-funded income. This led to a 55 percent rise in net interest income and 51 percent increase in operating income. At the same time, the cost-to-income ratio improved to 31 percent, supported by the Bank's continued commitment to strict cost controls. These results reflect the Bank's core strength, operational efficiency, prudent risk management, and its ongoing efforts to enhance shareholder value. The balance sheet remains robust, with a loan-to-deposits ratio of 93 percent, and liquidity maintained at highly comfortable levels. These results also highlight the Bank's strong capital position, with capital adequacy ratio of 14 percent, and Tier1/CET1 capital ratios standing at around 13 percent. Commenting on the Bank's results, Sheikh Mohammed bin Saud Al Qasimi, Chairman of Bank of Sharjah, said, "Bank of Sharjah has maintained strong momentum in the first half of 2025, building on the solid results achieved in the first quarter. Our record net profit reflects enhanced business performance, operational efficiency, and financial resilience. These results are driven by steady balance sheet growth, a well-diversified business mix, improved operational capabilities, and a prudent approach to risk." Reaffirming the Board's confidence in the Bank's strategic direction, Sheikh Mohammed bin Saud Al Qasimi added, "We remain confident in our ability to deliver sustainable, long-term returns, while maintaining conservative risk management and corporate governance." Mohamed Khadiri, CEO of Bank of Sharjah, commented, "Our strategic transformation is well underway, and our first-half performance reflects the tangible progress we are making across all business lines. We have successfully expanded and diversified our balance sheet, strengthened customer relationships, and improved cross-selling capabilities, delivering solid results." Looking ahead, Khadiri further added, "Bank of Sharjah remains firmly focused on sustainable, profitable growth, through prudent capital deployment and sound risk governance. With a strong foundation and improving fundamentals, we are well positioned to deliver consistent returns for our shareholders while contributing to the ongoing growth and diversification of the UAE economy."
Arabian Business
16-05-2025
- Business
- Arabian Business
UAE's Bank of Sharjah and Apex Investment added to MSCI Global Small Cap Index
Two UAE stocks – Bank of Sharjah and APEX Investment – have been included in the MSCI Global Small Cap Index following a semi-annual index review. The inclusion will take effect after the market closes on 30 May. The MSCI Global Small Cap Index is tracked by major institutional investors and global investment funds, with trillions of dollars in assets benchmarked against MSCI's suite of indexes. Inclusion typically signals strong market performance, sound governance, and growing investor confidence. MSCI also announced that Dubai Electricity and Water Authority (DEWA), ADNOC Gas and Salik were selected for inclusion in the MSCI Emerging Markets Index. There will be 147 additions to and 201 deletions from the MSCI Small Cap Index. The new review also resulted in five additions in Saudi Arabia (Almoosa Health, Arabian Drilling, Knowledge Economic City, Nice One Beauty Digital Marketing and United International Holding), and three deletions (Al Jouf Agricultural Development, Herfy Food Services and Sinad Holding Company). Bank of Sharjah achieves milestone The inclusion marks a significant milestone in Bank of Sharjah's journey, reinforcing its position as a high-performing and transparent financial institution in the region. Mohamed Khadiri, Chief Executive Officer of Bank of Sharjah, commented: 'Joining the MSCI Global Small Cap Index is a proud and defining moment for Bank of Sharjah. It validates the strength of our fundamentals, the success of our strategic transformation, and the confidence the market places in us.' 'This inclusion enhances our international visibility, strengthens our appeal to global investors, and is expected to drive increased liquidity and shareholder value. Most importantly, it opens the door to a wider investment community that shares our long-term vision for sustainable growth.' The Abu Dhabi-headquartered APEX Investment is a diversified investment holding company, with investment across sectors including commercial catering, facilities management, contracting and auxiliary business, investments, tech and big data, among others.
Sharjah 24
15-05-2025
- Business
- Sharjah 24
Bank of Sharjah to be included in MSCI Global Small Cap Index
A milestone for the bank The inclusion represents a significant achievement, highlighting the bank's strong market performance, transparency, and solid governance. Being part of the MSCI Global Small Cap Index—tracked by major institutional investors—signals growing investor confidence and reinforces the bank's regional standing. Leadership perspective Mohamed Khadiri, CEO of Bank of Sharjah, described the inclusion as a defining moment, validating the bank's strategic transformation and financial fundamentals. He emphasized that the listing will enhance global visibility, attract international investors, and boost both liquidity and shareholder value. Investor confidence and growth strategy This milestone reflects consistent financial results, sound risk management, and ongoing operational enhancements. It also demonstrates the confidence placed in the bank by both local and international investor communities, reinforcing its trajectory toward sustainable, long-term growth.
Zawya
15-05-2025
- Business
- Zawya
Bank of Sharjah to be included in MSCI Global Small Cap Index
Sharjah, UAE – Bank of Sharjah (ADX: BOS) is pleased to announce that its shares will be added to the MSCI Global Small Cap Index, effective after market close on May 30, 2025, as part of MSCI's semi-annual index review. This prestigious inclusion marks a significant milestone in Bank of Sharjah's journey, reinforcing its position as a high-performing and transparent financial institution in the region. The MSCI Global Small Cap Index is tracked by major institutional investors and global investment funds, with trillions of dollars in assets benchmarked against MSCI's suite of indexes. Inclusion typically signals strong market performance, sound governance, and growing investor confidence. On this occasion, Mr. Mohamed Khadiri, Chief Executive Officer of Bank of Sharjah, commented: 'Joining the MSCI Global Small Cap Index is a proud and defining moment for Bank of Sharjah. It validates the strength of our fundamentals, the success of our strategic transformation, and the confidence the market places in us.' Mr. Khadiri added: 'This inclusion enhances our international visibility, strengthens our appeal to global investors, and is expected to drive increased liquidity and shareholder value. Most importantly, it opens the door to a wider investment community that shares our long-term vision for sustainable growth.' The bank's inclusion in the index comes on the back of consistent financial performance, prudent risk management, and ongoing operational modernization efforts. It is also a clear reflection of the confidence that both the local and international investor communities have placed in the bank's leadership and growth trajectory. About Bank of Sharjah: Bank of Sharjah was established on December 22, 1973, through a decree issued by His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, UAE Supreme Council Member and Ruler of Sharjah. Banking operations started in May 1974. The Bank was the first commercial bank in Sharjah, the fifth in the Federation and the first to make 40% of its capital available for public subscription.
