FAB Keeps Sharjah Islamic Bank at Buy Post-Q3 Results

05:33 AM EDT, 10/15/2026 (MT Newswires) -- FAB Securities maintained its investment view on Sharjah Islamic Bank (ADX:SIB) as it took note of the lender's third-quarter results in a Thursday first-look note. For the three-month period, the company's attributable net profit declined 1.7% year over year to 401 million Emirati dirhams, aligning with FAB's 400 million-dirham forecast. Total operating income was 695 million dirhams, against the research firm's estimate of 745 million dirhams. "We maintain BUY rating on SIB with a target price of AED 3.85. SIB recorded declining profit in 3Q26, driven by decline in non-funded income, coupled with higher general & admin expenses, and corporate tax. However, net advances rose 24.0% YOY and 8.6% QOQ to AED 54.1 Bn in 3Q26. This growth reflects the Bank's firm dedication to delivering Islamic financial services and supporting growth across sectors," analysts wrote.