Is NBT Bancorp (NBTB) stock halal?
Screened against AAOIFI Shari’ah Standard 21
No. NBT Bancorp (NBTB) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6021 (National Commercial Banks)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 19 September 2026.
NBT Bancorp is not compliant under Halal / Islamic guidelines
AAOIFI Shari’ah Standard 21 Financial Audit
Figures from the latest annual report (the SEC filing or, for European companies, the ESEF annual report, where one exists, checked against Yahoo Finance) and a 36-month average market value.
| Test | Standard Limit | Actual Figure | Status |
|---|---|---|---|
| Main business | — | — | Fail |
| Interest-bearing debt | 30% | 8.00% | Pass |
| Cash and interest-bearing investments | 30% | 148.84% | Review |
| Prohibited income | 5% | — | Review |
| Not just cash and debts | 90% | 20.85% | Pass |
Key Findings & Observations
- Its main business is conventional banking, lending or insurance (SEC industry code 6021 (National Commercial Banks)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1).Source: Business check
- The cash and interest-bearing investments test couldn’t be settled: The figures give 21.7% and 148.8%, on either side of the limit. Includes long-term investments that may be shares in other companies.Source: AAOIFI Shari'ah Standard 21
- The prohibited income test couldn’t be settled: Yahoo reports interest income of $711M, more than the company’s cash, investments and receivables could earn at 10% ($333.5M), so that figure was set aside. So the income test can’t be settled.Source: AAOIFI Shari'ah Standard 21
- Company offers interest‑bearing checking, savings, and loan products, constituting usury (riba).Source: News Analyzer
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Frequently Asked Questions about NBT Bancorp Inc. (NBTB)
Is NBT Bancorp (NBTB) stock halal?▾
No. NBT Bancorp (NBTB) does not pass the AAOIFI Shari’ah Standard 21 screen. Its main business is conventional banking, lending or insurance (SEC industry code 6021 (National Commercial Banks)), which AAOIFI Shari’ah Standard 21 excludes (3/4/1). Last checked 19 September 2026.
What is NBT Bancorp's debt ratio under Islamic finance standards?▾
Under AAOIFI Shari’ah Standard 21, interest-bearing debt must stay under 30% of a company's 36-month average market value. NBT Bancorp's ratio is about 8.0%.
How much dividend purification is required for NBT Bancorp (NBTB) stock?▾
NBT Bancorp does not pass the screen, so purification does not apply: the standard does not permit holding it.
Does NBT Bancorp operate in prohibited business activities?▾
AAOIFI Shari’ah Standard 21 excludes companies whose main business is prohibited, such as alcohol, pork, gambling, conventional interest-based finance and adult entertainment. NBT Bancorp's main business is checked against these. For companies that file with the US SEC, revenue by division is also read from the filing, so a division in a prohibited business is counted. Where the check cannot be settled, the result is shown as Needs Review rather than guessed.
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