BE - September 2026

Bank ABC Islamic Bank ABC Islamic REPORTS FIRST HALF NET PROFIT OF $16.1MLN Bank ABC Islamic reported a total operating income after profit on murabaha and other payables and before attribution to quasi-equity of $92.5 million for the first half of 2026, up 3.2% from the same period last year. The net income attributable to quasi- equity increased by 7.9%. Net profit, however, declined by 40.3% to $16.1 million, compared with $26.9 million in the prior-year period, pri- marily due to a charge for expected credit losses versus a reversal in the same period last year, the bank said. Operating expenses were $5.1 mil- lion, same as corresponding period last year. Hammad Hassan, Managing Direc- tor of Bank ABC Islamic, said: “The region continues to face heightened geopolitical tensions, and our focus remains on maintaining operational resilience and the safety of our staff. With the support of our parent, Bank ABC, we have remained fully opera- tional throughout the crisis, servicing our clients seamlessly and maintain- ing normal business operations. "Our half year results show resilient top-line performance; however, our net profit reduced by 40%, in com- parison to the same period 2025, mainly due to an increase in ex- pected credit losses, compared with a provisioning reversal in the same period last year. We remain conser- vative in our approach towards pro- visioning, particularly in light of the current macro-economic environ- ment. Our balance sheet remains healthy with strong capital ratios. "For rest of the year, our focus will re- main on maintaining our operational resilience, keeping our balance sheet healthy, and providing seamless serv- ices to our clients, who are also being adversely affected by the cur- rent circumstances. Supply chain dis- ruption continues to impact many businesses in our region as well as globally. Maintaining the well-being of our staff also remains our key pri- ority in these uncertain times.” ISSUE 213 SEPTEMBER 2026 the BANKING EXECUTIVE 53