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The UAE-based money exchange and remittances firm Al Ansari Financial Services, which raised $210 million in an IPO in March, plans to open 15 new exchanges across the UAE before the end of this year as part of plans to reach a network of approximately 300 branches within the next five years.
The 15 new branches will cover underserved areas in Abu Dhabi, Dubai, Sharjah and other cities in the Northern Emirates and will take the total number of physical branches to 246, the Dubai Financial Market listed company said on Monday.
Al Ansari Exchange has opened five new branches this year.
(Writing by Brinda Darasha; editing by Seban Scaria)
