Abu Dhabi – Mubasher: Bank of Sharjah achieved 45% higher net profits after tax at AED 116 million in the first quarter (Q1) of 2025, compared to AED 80 million in Q1-24.
Net operating income hit AED 191 million as of 31 March 2025, an annual growth of 33.60% from AED 143 million, according to the financial results.
Total assets increased by 2.80% to AED 44.80 billion in Q1-25 from AED 43.60 billion as of 31 December 2024, while the customers' deposits grew by 2.70% to AED 30.50 billion from AED 29.70 billion.
Mohamed Khadiri, CEO of Bank of Sharjah, stated: “We have kicked off 2025 on a strong note, delivering an outstanding performance that highlights the successful execution of our transformation strategy.”
“We are making meaningful progress in diversifying our revenue streams, expanding our customer base, and strengthening client relationships – all of which are contributing to a well-balanced income mix and sustainable profitability,” Khadiri added.
