Bank ABC Islamic closed the first quarter of 2026 with net profit of $9.3 million driven by robust contributions from core financing activities and stable investment returns.
Announcing results yesterday, the bank said total operating expenses were well controlled at $2.7m, slightly down from $2.8m in the same quarter last year, reflecting disciplined cost management.
The bank’s total assets reached $3.8 billion, growth of 16.9 per cent compared to year end 2025 while it continues to maintain healthy capital ratios.
Commenting on the results, Hammad Hassan, managing director of Bank ABC Islamic, said: “We closed 2025 at a strong footing, and the business momentum continued in the first quarter of the year. However, later in the quarter, the region faced heightened geopolitical tensions, and our focus changed to maintaining operational resilience and safety of our staff.
“With the support of our parent, Bank ABC, we remained fully operational, servicing our clients seamlessly and keeping normal business operations.”
He added: “Our first quarter results show resilient performance with total operating income after profit on murabaha and other payables and before attribution to quasi-equity increasing by 3.2pc as compared to the same period in 2025.
However, our net profit reduced by almost 36pc, in comparison to first quarter 2025, mainly on account of prudent provisioning, keeping in view the current macro-economic environment as well as one-off recovery recorded in Q1, 2025.
“Moving ahead into the second quarter, we remain cautious and focused on maintaining our operational resilience and keeping our balance sheet healthy. Providing seamless services to our clients and well-being of our staff remain our key priorities in these uncertain times.”
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