Sharjah: Sharjah Islamic Bank's (SIB) Annual General Assembly, chaired by Abdul Rahman Al Owais, Chairman of the Board of Directors, has approved a 20% cash dividend for the financial year ending December 31, 2025. This decision, made during the meeting held both in-person at the Sharjah Chamber of Commerce and Industry and virtually, marks an increase from the previous year's 15% dividend, amounting to AED 647.1 million or AED 0.20 per share.
According to Emirates News Agency, the General Assembly also sanctioned a capital increase through a rights issue of up to AED 1.078 billion, potentially raising the Bank's capital from AED 3.235 billion to AED 4.314 billion. This will involve issuing up to 1.078 billion new shares at AED 2.40 per share, with the Board of Directors authorized to execute the increase in line with regulatory requirements.
The assembly saw participation from Board members, executive management, and representatives from regulatory bodies, alongside numerous shareholders. In his speech, Abdul Rahman Al Owais highlighted that the meeting coincided with SIB's 50th anniversary, a significant milestone that not only celebrates past achievements but also signals a future focused on digital innovation and operational efficiency.
Established in 1975 and transformed into an Islamic bank in 2002, SIB has consistently adapted to changing economic conditions. Al Owais reported a net profit after tax of AED 1.32 billion for 2025, a 26% increase from 2024, driven by robust performance and sustainable shareholder returns.
Income from Islamic financing and Sukuk investments rose by AED 175 million, reaching AED 3.9 billion, while distributions to depositors and Sukuk holders increased to AED 2.3 billion. Additionally, net fee and commission income surged by 50%, contributing to a total operating income of AED 2.5 billion, up 14% from the previous year.
Despite a 15.2% rise in total general and administrative expenses to AED 897.5 million, net operating income before impairment provisions grew to AED 1.6 billion, demonstrating the Bank's effective cost management. The non-performing financing ratio improved to 3.8%, with the coverage ratio increasing to 109%, indicating enhanced credit quality.
SIB's total assets expanded by AED 11.1 billion, reaching AED 90.3 billion, with customer financing and deposits showing significant growth. The Bank maintained a strong liquidity ratio and saw improvements in return on assets and equity.
Al Owais affirmed that the capital increase positions SIB for further growth, enabling expanded operations and compliance with regulatory demands, while continuing to deliver value to shareholders. He expressed gratitude to the leadership of Sharjah for their support, as well as to the Bank's stakeholders for their contributions to its success.