Saraha news – Bank ABC Islamic reported net profit of US$21.8 million for the first nine months of 2026, compared with US$39.4 million for the same period last year. Totaloperating income after profit on murabaha and other payables and before attribution to quasi-equity stood at US$133.2million, down 3.5% year on year, while net income attributable to quasi-equity decreased by 1%. The decline in net profit was primarily driven by a significant increase in expected credit losses in the current economic environment.
Key Performance Highlights
Commenting on the results, Mr. Hammad Hassan, Managing Director of Bank ABC Islamic, said, “Bank ABC Islamic delivered a resilient operating performance during the first nine months of 2026, supported by stable revenues, disciplined cost management and a well-capitalised balance sheet. While higher expected credit losses weighed on net profit amid continued geopolitical and economic uncertainty, our underlying operating performance remained broadly in line with the prior period, demonstrating the Bank’s ability to adapt to changing conditions. We believe our prudent approach to provisioning remains appropriate in the current environment and supports the Bank’s long-term financial resilience.
Our balance sheet remains sound and strongly capitalised, with a capital adequacy ratio of 37%, providing a solid foundation to support our clients and selectively pursue business opportunities.
As we approach year-end, we remain focused on maintaining financial and operational resilience, ensuring the safety and well-being of our employees, supporting our clients, and preserving the strength and quality of the Bank’s balance sheet.”
A detailed summary of the financial results is set out below:
Business Performance (Three-Month Period):
Business Performance (Nine-Month Period):
Balance Sheet:
