Al Salam Bank yesterday announced its financial results for the first quarter ended March 31, 2026, delivering strong performance and reaffirming the positive momentum achieved in 2025.

The bank recorded net profit attributable to owners’ of the bank of BD23.1 million ($61.4m) for the quarter ended March 31, 2026, compared to BD18.6m ($49.3m) in the corresponding period of 2025.

This reflects strong growth of 24.4pc driven by the resilient performance across core business lines and the continued effectiveness of the group’s asset liability management strategy.

Earnings per share for Q1 2026 increased to 6.5 fils, compared to 5.7 fils for the same period in 2025.

Total comprehensive income attributable to owners’ of the bank for Q1-2026 reached BD9.7m, compared to BD27m in the same period last year, representing a decrease of 64pc.

Driven mainly by the 2025 dividend payout, equity attributable to owners’ of the bank closed the quarter at BD440.5m, posting a decrease of 4.7pc compared to BD462.4m in 2025, while the group’s total owners’ equity declined by 3pc from BD749.7m as at December 31, 2025 to BD727.1m as at March 31, 2026. The consolidated capital adequacy ratio of the bank remained resilient at 23.1pc as of Q1-2026.

The group’s balance sheet continued to expand with total assets closing at BD8.51bn as at March 31, 2026, reflecting an increase of 5.7pc compared to BD8.05bn at year-end 2025.

Customer deposits increased by 3pc to BD5.64bn in Q1 2026 while financing assets remained largely stable at BD4.08bn, recording an increase of 0.4pc since year-end 2025.

Commenting on the results, Al Salam Bank chairman Shaikh Khalid bin Mustahail Al Mashani said: “The results recorded in the first quarter of 2026 reflect the strength of our diversified platform and our ability to deliver sustainable growth in a dynamic operating environment. We have built a group defined by structural diversification and a commitment to excellence across our operations.

“As we progress through 2026, we remain focused on further diversifying the group, upholding disciplined capital management, and delivering long-term value for our shareholders.”

Al Salam Bank Group chief executive officer Rafik Nayed added: “The deliberate diversification of the group across banking, asset management, takaful, and its regional presence has created a platform built for resilience and sustainable profitability. Our core business lines continue to demonstrate strength, enabling us to grow consistently, respond decisively, and navigate an increasingly complex environment with confidence.

“Going forward, we remain committed to continually reinvent our business model in order to stay ahead of change, and cement our position as a diversified regional financial group delivering market leading returns.”

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