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, primarily 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 million, same as corresponding period last year. 

Hammad Hassan, Managing Director 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 operational throughout the crisis, servicing our clients seamlessly and maintaining normal business operations.   

"Our half year results show resilient top-line performance; however, our net profit reduced by 40%, in comparison to the same period 2025, mainly due to an increase in expected credit losses, compared with a provisioning reversal in the same period last year. We remain conservative in our approach towards provisioning, particularly in light of the current macro-economic environment. Our balance sheet remains healthy with strong capital ratios. 

"For rest of the year, our focus will remain on maintaining our operational resilience, keeping our balance sheet healthy, and providing seamless services to our clients, who are also being adversely affected by the current circumstances. Supply chain disruption continues to impact many businesses in our region as well as globally. Maintaining the well-being of our staff also remains our key priority in these uncertain times.” - TradeArabia News Service