Ajman Bank Achieves AED145 Million Profit In Q1 2025 Under H.H. Sheikh Ammar's Leadership
Ajman Bank's recent board meeting, led by H.H. Sheikh Ammar bin Humaid Al Nuaimi, highlighted significant financial achievements. The bank reported a Profit Before Tax of AED145 million for Q1 2025, marking a 24% rise. Net Operating Income reached AED199 million, up by 2%, showcasing robust core business performance. This growth is attributed to strong recoveries, cost management, and enhanced efficiencies through IT digitisation and automation.
The bank's balance sheet showed notable growth with Total Assets at AED25 billion, a 7% increase. Customer Deposits rose to AED21 billion, an 8% rise, while Total Shareholder Equity stood at AED3.1 billion compared to the end of 2024. The Capital Adequacy Ratio (CAR) was recorded at 18.2%, with Tier 1 Capital at 17.0%. Return on Shareholder Equity (ROE) improved to 17.4%, up by 161 basis points.
Ajman Bank's asset quality also saw improvements with the Non-Performing Loan (NPL) Ratio decreasing to 9.7% from 9.9% at the end of the previous year. Return on Assets (ROA) increased to 2.3%, up by 49 basis points. These figures reflect the bank's solid capital position and asset quality improvements both annually and quarterly.
H.H. Sheikh Ammar expressed that Ajman Bank's progress mirrors the strength of their vision for Ajman's future and the crucial role financial institutions play in building resilient economies. "The progress of Ajman Bank reflects the strength of our vision for Ajman’s future and the pivotal role financial institutions play in shaping resilient and inclusive economies," he stated.
CEO Mustafa Al Khalfawi emphasised the bank's transformation journey and its commitment to delivering consistent value-driven performance. "Ajman Bank’s Q1 2025 results reflect the strength of our ongoing transformation and our ability to deliver consistent, value-driven performance," he noted.
Commitment to Innovation
Al Khalfawi highlighted their focus on innovation, human capital investment, and customer-centric solutions as key drivers of success. He acknowledged the dedication of their team and customers' trust in shaping a responsive institution aligned with Islamic finance's future.
With a strong financial base and ongoing transformation momentum supported by a resilient UAE economy, Ajman Bank is poised for sustainable growth throughout 2025 and beyond. The bank remains committed to maintaining its growth trajectory while contributing positively to the UAE's dynamic economic landscape.
With inputs from WAM
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