Ajman Bank announces a net profit of 263 million dirhams before tax and an increase in revenues to 880 million dirhams, a growth of 17%
Ajman, July 23 / WAM / His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of the Executive Council, Chairman of the Board of Directors of Ajman Bank, chaired the Board of Directors meeting, which was held today, Thursday, at the bank’s headquarters.
The Board announced a strong financial performance for the first half of 2026, recording a net profit before tax of 263 million dirhams, and a net profit after tax of 246 million dirhams, a growth of 1%, supported by sustainable growth in the bank’s core financing, treasury and fee-based business sectors.
Total revenues amounted to 880 million dirhams (an increase of 17% year-on-year), while net revenues amounted to 437 million dirhams (an increase of 10% year-on-year), which reflects the continued progress in enhancing the bank’s diversified income base.
Unfunded revenues amounted to 111 million dirhams, representing 25% of net revenues, which highlights the bank’s ongoing efforts to expand sources of income beyond financing income.
His Highness Sheikh Ammar bin Humaid Al Nuaimi said that the results reflect the bank’s continued progress, resilience, and commitment to supporting the growing economy of the UAE.
His Highness added: “Ajman Bank’s performance in the first half of 2026 reflects the strength of our strategy and the solidity of our institution, and focuses on sustainable growth through disciplined implementation. These results demonstrate our ability to create sustainable value while supporting the evolving financial needs of individuals, companies and government agencies.”
Ajman Bank maintained a strong balance sheet, with total assets reaching 33.9 billion dirhams (an increase of 3% since the beginning of the year) at the end of the period, and financing to customers amounted to 23.3 billion dirhams (an increase of 9% since the beginning of the year), supported by continued demand in the bank’s main financing sectors, while total deposits reached 27.5 billion dirhams (an increase of 3% since the beginning of the year).
Current and savings account (CASA) balances have increased by 11% since the beginning of the year, which reflects the bank’s ability to attract and maintain stable financing based on the solidity of the bank’s systems and distinguished services.
Total shareholders’ equity reached AED 3.4 billion, supporting a strong capital position with a Core Tier 1 Equity (CET1) ratio of 13.0%, providing a solid foundation for sustainable growth.
Profitability indicators remained strong, with return on equity (ROE) reaching 14.3% and return on assets (ROA) 1.5%, reflecting the diversification of the financing portfolio and operational efficiency in achieving sustainable profits.
Asset quality continued to improve, as the non-performing financing (NPF) ratio decreased to 5.3%, a decrease of 171 basis points since the beginning of the year, which reflects the improvement in the quality of collection and risk management, supported by the continued improvement in the quality of the financing portfolio.
Mustafa Al-Khalafawy, CEO of Ajman Bank, said: “The results of the first half of 2026 reflect the sustainable growth and success of the bank’s strategy to diversify its financing portfolio, which demonstrates the effectiveness of our priorities and the strength of our financial foundations. We continue our focus on disciplined growth, diversification of sources of income, risk management, and operational excellence, which is enhanced through intensive and continuous initiatives in the field of automation and digitization.”
He added: “The improvement in asset quality, the growth in CASA balances, and the strength of our capital position reflect our clients’ confidence in Ajman Bank as a long-term financial partner. We continue to strive to enhance our capabilities, expand our offerings, and provide greater value to our clients, shareholders, and the communities we serve.”
Ajman Bank had successfully issued Tier 1 (AT1) sukuks worth US$300 million, which are perpetual non-callable sukuks for a period of 5.5 years, with the participation of 11% of international investors, which represents an important milestone in the bank’s journey in diversifying its sources of raising capital.
The successful issuance reflects investors’ strong confidence in the bank’s financial strength, strategic direction, and long-term growth prospects. The transaction strengthens the bank’s capital position and supports its strategy for continued growth and its presence in the regional and international capital markets.
In general, these results reflect a balanced and flexible performance, supported by sustainable growth, a strong financial foundation, improved asset quality, and continued diversification of income sources. Ajman Bank remains committed to providing added value to its customers, while supporting the growth and development of the UAE’s economy.
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