Bank of Sharjah
Ticker/ISIN
BOS
AEB000101011
Market/Country
Abu Dhabi Stock Exchange
United Arab Emirates
About Bank of Sharjah
The Creation
The formation of the United Arab Emirates on December 2, 1971 was a landmark achievement brought about by the Rulers of the seven Emirates that make up the country today. There has been no looking back since, and the U.A.E. has developed into a world player in the fields of investment, commerce, and tourism.
Under the Honorary Chairmanship of H.H. Dr. Sheikh Sultan Bin Mohammed Al Qasimi, Ruler of Sharjah and Member of the Supreme Council, a decree was issued calling for the creation of the first financial institution in the Emirate of Sharjah and the fifth in the Federation.
Bank of Sharjah was incorporated on December 22, 1973, with an initial paid up capital of AED 15 million, operations started in May 1974 as the first consortium bank to be established in the GCC in association with Banque Paribas. The Bank was the first financial institution in Sharjah to make 40% of its capital available for public subscription.
The Bank played a major role in establishing the Emirate of Sharjah as a leading contributor to the Federation, and boosted the Emirates growth in the region.
The three founding members were:
• Government of Sharjah
• Hassawi Group
• Banque Paribas
Each held a 20% stake in the Bank.
The History
The Bank was established in time to witness the unprecedented growth the United Arab Emirates would soon experience. The rise of the Emirates led to a burgeoning demand for financial services, which Bank of Sharjah supplied, growing concurrently with the Emirate of Sharjah. As the Bank earned its regional reputation, it boosted its national role throughout the U.A.E.
In the wake of the merger between BNP and Paribas, the newly formed BNP Paribas sold its stake in 2002. Bank of Sharjah maintains a strong relationship with its previous stakeholder. Former representatives of BNP Paribas continue to sit on the Board as independent directors.
During the 28 years under the Management of Banque Paribas, Bank of Sharjah witnessed continued success, with strong balance sheet performance and operational efficacy. The emergence of stock markets in the UAE facilitated the Bank’s entry as a publicly traded entity on the Abu Dhabi Securities Exchange in 2004.
Core Values
Since it was created, Bank of Sharjah has been governed by a series of fundamental principles that represent its core values. Our value system shapes the culture and defines the character of the organization. These values lead our corporate decision-making and give context to our actions. Our values are:
Performance
Ethics
Transparency
Initiative
Commitment
Quality
Mission Statement
The mission of Bank of Sharjah is to achieve strong and sustainable Performance for its shareholders. The Bank is committed to its personnel and clientele to accompany them in realizing their aspirations and objectives.
Ethics, Transparency, Initiative, Commitment and Quality are imprinted in the way we do business and how we contribute to society and the environment.
Corporate Social Responsibility
Bank of Sharjah’s commitment to society is deeply rooted in its values, and forms an integral part of its strategy. The Bank’s commitment to sustainable development complements its core strategy of partnering with businesses to finance their growth. In so doing, the Bank is not only a source of financial growth but economic development; not just new jobs but promising career opportunities.
Latest Pressrelease Summaries from Bank of Sharjah
Resolution No. 348 of 2024 announces a temporary suspension of trading on the shares of Bank of Sharjah. The decision comes as a result of a coinciding Board of Directors meeting scheduled for 11:00 on 28-Mar-2024. The trading suspension will begin at 09:00 on the same day, and will last until the meeting results are received by ADX. The resolution instructs all department heads at ADX to execute this decision in their respective fields. It also mandates that the resolution be circulated to SCA, the concerned company, all departments at ADX, and all brokers accredited by ADX. The resolution was approved by the authorized person and was issued on 26/03/2024.
Threads
ADX Disclosures: Temporary suspension of trading on the shares of Bank of Sharjah
ADX Disclosures: BOS Resumption Notice
ADX Disclosures: Temporary suspension of trading on the shares of Bank of Sharjah
Disclosures: Bank of Sharjah Preliminary Financial Results for the Period Ended December 31,2021
Disclosures: Bank of Sharjah Board Meeting Results held on 23/01/2022 at 11:00
Disclosures: Bank of Sharjah Announcement of Board Meeting to be held on 23/01/2022 at 11:00
Disclosures: Bank of Sharjah Management Discussion and Analysis Report for the Period Ended September 30,2021
Disclosures: Bank of Sharjah Financial Results for the Period Ended September 30,2021
Disclosures: Bank of Sharjah Board Meeting Results held on 20/10/2021 at 11:00
Disclosures: Bank of Sharjah Announcement of Board Meeting to be held on 20/10/2021 at 11:00