Emirates Islamic Bank PJSC

Emirates Islamic reported a record profit before tax of AED 2.2 billion for the first half of 2025, driven by strong income and deposit growth. Total income increased by 9% year-on-year to AED 2.9 billion due to growth in both funded and non-funded income streams. Customer financing rose by 13% to AED 80 billion, and customer deposits grew by 27% to AED 97.4 billion, with current and savings accounts making up 65.5% of total deposits. The bank's total assets increased by 24% to AED 138 billion. Expenses rose by 15% due to ongoing investments, while impairment allowances were at AED 136 million. Operating profit improved by 6% year-on-year, and net profit increased by 12% to AED 1.863 billion, with a net profit margin of 3.74%. The bank maintained a strong capital position with a Common Equity Tier 1 ratio of 17.4% and a capital adequacy ratio of 18.5%. The non-performing financing ratio stood at 2.8%, with a coverage ratio of 159.9%. The financing to deposit ratio was 82%, within the management's target range.

The document is an unaudited group condensed consolidated interim financial statement for Emirates Islamic Bank, a public joint stock company. It covers the six-month period ending on June 30, 2025. The bank's head office is located on the 3rd floor of Building 16 in Dubai Health Care City, Dubai. Contact details include a telephone number, fax number, and a P.O. Box address in Dubai, United Arab Emirates. The bank's website is www.emiratesislamic.ae.

The Board of Directors of Emirates Islamic Bank (P.J.S.C) held a meeting on Wednesday, 23 July 2025. During this meeting, they approved the minutes from the previous meeting held on 21 April 2025, approved the financial results for the three-month period ending 30 June 2025, and discussed normal business activities. The letter is signed by Dr. Ahmed Alkhalfawi, Group Company Secretary of Emirates NBD Bank (P.J.S.C).

On 18 July 2025, a letter was addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, regarding an upcoming Board of Directors meeting for Emirates Islamic Bank (P.J.S.C). The meeting is scheduled for 3:00 PM on Wednesday, 23 July 2025. The agenda includes approving the previous meeting's minutes, approving the financial results for the three-month period ending 30 June 2025, and discussing normal business activities. The letter is signed by Dr. Ahmed Saeed Alkhalfawi, Group Company Secretary of Emirates NBD Bank (P.J.S.C), and a copy is sent to the Securities & Commodities Authority.

On 8 April 2025, Emirates Islamic Bank (EIB) received a notification from Emirates NBD Bank (ENBD) about a mandatory acquisition of all EIB shares not accepted by EIB shareholders, as per the Offer Document dated 27 February 2025, to achieve 100% ownership. The objection period for this acquisition ended on 7 June 2025, with no objections received. On 10 June 2025, the Dubai Financial Market suspended EIB share trading in preparation for the settlement of this acquisition. As of 16 June 2025, the mandatory acquisition procedures were settled in accordance with Article 11 of the SCA Board of Directors' Decision No. 18/R.M.

On 8 April 2025, Emirates Islamic Bank (EIB) announced it received a notification from Emirates NBD Bank (ENBD) regarding the mandatory acquisition of all EIB shares from shareholders who did not accept ENBD's offer, aiming for 100% ownership of EIB's share capital. The notice period for this mandatory acquisition ended on 7 June 2025. As of 9 June 2025, neither EIB nor ENBD received any objections to the acquisition. EIB will instruct the Dubai Financial Market (DFM) to suspend trading of its shares starting 10 June 2025. All remaining EIB shares not already held by ENBD will be re-registered in ENBD's name around 13 June 2025, and ENBD will settle any cash payments due to the remaining EIB shareholders.

Emirates Islamic Bank, a public joint stock company, has released its unaudited group condensed consolidated interim financial statements for the three-month period ending March 31, 2025. The bank's head office is located on the 3rd Floor of Building 16 in Dubai Health Care City, Dubai, United Arab Emirates. For inquiries, they can be contacted via telephone at +971 600599995 or fax at +971 4 3582659. Their website is www.emiratesislamic.ae, and their mailing address is P.O. Box 6564, Dubai, United Arab Emirates.

Emirates Islamic reported a record net profit of AED 1 billion for the first quarter of 2025, marking a 24% increase compared to the same period last year. The bank's total income rose by 8% year-on-year to AED 1.45 billion, driven by increases in both funded and non-funded income. Operating profit improved by 5% year-on-year, while expenses grew by 15% as the bank continued to invest in growth. The bank's capital position remains strong, with a Tier 1 ratio of 17.8% and a capital adequacy ratio of 18.9%. Total assets increased by 11% to AED 123 billion, and customer deposits rose by 8% to AED 83 billion. The non-performing financing ratio improved to 4%, with a strong coverage ratio of 146%. The bank's net profit margin stood at 3.85%.

On 21st April 2025, the Board of Directors of Emirates Islamic Bank (P.J.S.C) held a meeting where they approved the minutes from the previous meeting on 28th January 2025, approved the financial results for the three-month period ending 31st March 2025, and discussed normal business activities. The communication was addressed to Mr. Hamed Ahmed Ali, Chief Executive Officer of the Dubai Financial Market, and was sent by Dr. Ahmed Alkhalfawi, Group Company Secretary of Emirates NBD Bank (P.J.S.C). A copy was also sent to the Securities & Commodities Authority.

On 16 April 2025, Emirates Islamic Bank (P.J.S.C) announced that its Board of Directors will meet on Monday, 21 April 2025, at 3:00 pm. The agenda includes approving the minutes of the previous board meeting, approving the financial results for the three-month period ending 31 March 2025, and discussing normal business activities. The communication was addressed to Mr. Hamed Ahmed Ali, CEO of the Dubai Financial Market, and copied to the Securities & Commodities Authority. The letter was signed by Dr. Ahmed Saeed Alkhalfawi, Group Company Secretary of Emirates NBD Bank (P.J.S.C).