Ajman Bank reports $24.55mln profit in Q3

This positive trend was also reflected in the increase in the bank’s net operating income of $130mln for July-September quarter of 2021

  
Investors are seen at the Dubai International Financial Market in Dubai, UAE February 7, 2018. Image used for illustrative purpose.

Investors are seen at the Dubai International Financial Market in Dubai, UAE February 7, 2018. Image used for illustrative purpose.

REUTERS/Satish Kumar
Ajman Bank on Sunday said its third-quarter net profit surged 61 per cent to Dh90.1 million from Dh55.9 million in the same quarter last year.

This positive trend was also reflected in the increase in the bank’s net operating income of Dh477 million for July-September quarter of 2021 achieving an increase of 12 per cent compared to Q3 2020’s net operating income of Dh424 million during the same period.

Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, and Chairman of Ajman Bank, chaired the meeting of the board of directors of the bank held on October 28, 2021. The board members and CEO Mohammed Amiri whereas they discussed the financial results of the bank.

“Our revenues have proven to be resilient, with the continuation of consumer and corporate confidence rising across our businesses. We are focused on driving efficiencies while maintain-ing our growth momentum. This also demonstrates the pioneering vision of the UAE and the improving economic conditions with the country’s commendable handling of the pandemic,” Mohamed Amiri, chief executive officer, Ajman Bank, said.

“We expect the trend to continue over the coming months. While maintaining a strong balance sheet, we are proud of our achievements including numerous industry recognitions with key milestones,” he added.

The bank’s total assets remained stable at Dh21.5 billion as at September 30, 2021 while the bank capital is Dh2.1 billion and the total shareholder’s equity is Dh2.6 billion.

Copyright © 2021 Khaleej Times. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities