Sharjah 24 – WAM: Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank Board of Directors, chaired the meeting held Thursday at the bank’s headquarters. Attending the meeting were the bank's board members and Mustafa Al Khalfawi, CEO of the bank.
Sheikh Ammar reviewed the bank’s results for the first half of 2024, which showed that it achieved an all-time high half-yearly net profit of AED216 million up by 111 percent, supported by strong profit of AED108 million in Q2 2024. This is on the back of a 12 percent increase in total operating income to AED813 million as compared to AED729 million in the corresponding first half of 2023, and net operating income of AED428 million - an increase of 2 percent. Return on shareholder Equity (annualised) and Return on Asset (annualised) have doubled in H1 2024 as compared to the corresponding period of 2023 to 15.0 percent (up by 695 bps) and 1.8 percent (up by 88 bps) respectively.
The strong results are supported by a healthy balance sheet with Total Assets of AED24.2 billion, Customer deposits of AED20.2 billion and AED2.9 billion of Equity.
Sheikh Ammar said, “Ajman Bank’s excellent H1 2024 financial performance showcases the success of our strategic initiatives and the strength of the UAE’s economic landscape. We are immensely proud of our team and extend my gratitude to the Board of Directors, senior management, and all employees for their continued support, hard work and dedication.”
For an optimal experience, please
