ajman bank registers dhs485m income in q2
Last Updated : GMT 15:26:13
Arab Today, arab today
Arab Today, arab today

Ajman Bank registers Dhs48.5m income in Q2

Arab Today, arab today

Arab Today, arab today Ajman Bank registers Dhs48.5m income in Q2

Ajman - Arabstoday

Ajman Bank, an award-winning financial services institution committed to transforming the experience of Islamic banking, on Monday announced its financial results for the second quarter of 2011, demonstrating sustained growth in its core activities. The bank reported strong growth in operating income over the period, with net income for the three months ending June 30, 2011, reaching Dhs48.5 million compared with Dhs28.7 million for same period of 2010, an increase of 69 percent. Comparing quarter-on-quarter, Ajman Bank’s income increased by 24 per cent in the second quarter of 2011 compared to Dhs41.2 million in the first quarter of 2011. Income from Islamic financing for the quarter was Dhs51.1 million compared with Dhs24.9 million for the same period of 2010, an increase of 105 per cent. Income from Islamic financing for the six months ended June 30, 2011 was Dhs92.4 million compared to Dhs45 million in the same period of 2010, an increase of 105 per cent. Income from investments and, fees & commissions grew by 97 per cent and 10 per cent respectively. Share of profit of customer deposits rose in the first half of 2011 to AED 38.2 million compared to Dhs10.9 million in the first half of 2010, an increase of 250 per cent. Enhanced income ameliorates the net loss from Dhs15.9 million for the half year ended June 30, 2010 to Dhs7.8 million for the half year ended June 30, 2011, a decrease of 51 per cent. As of June 30, 2011, customer deposits stood at Dhs2.87 billion compared to Dhs2.02 billion in the same period of 2010, an increase of 42 per cent. Ajman Bank’s total assets at the end of the second quarter of 2011 stood at Dhs4.4 billion, an increase of 38 per cent compared to Dhs3.2 billion as of December 31, 2010. As of June 30, 2011, Ajman Bank’s Islamic financing instruments portfolio stood at Dhs3.7 billion compared to Dhs2.7 billion as of December 31, 2010, an increase of 34 per cent.  The bank has been successful in improving its margins on financing and investments and at the same time keeping its cost of funds in check. Margins on financing improved at least 50 basis points compared to the same period in 2010. Gross return on assets as of June 30, 2011 improved to 2.6 per cent compared to 2.3 per cent in the same period of 2010. For the first time since its inception in 2008, the bank achieved a quarterly net profit  from its core banking activities. The net profit for second quarter 2011 is Dhs0.5 million, demonstrating the bank’s transformation towards profitability in its core business. Sheikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank, said: “Since launching operations in 2008, Ajman Bank has established a strong presence in the UAE banking sector.” From / Gulf Today

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ajman bank registers dhs485m income in q2 ajman bank registers dhs485m income in q2

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

ajman bank registers dhs485m income in q2 ajman bank registers dhs485m income in q2

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Air China suspends flights to North Korea

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria opposition meets in Riyadh

GMT 06:23 2017 Thursday ,23 November

Syria opposition meets in Riyadh
Arab Today, arab today Online exhibit shows hidden depths of

GMT 11:45 2017 Thursday ,23 November

Online exhibit shows hidden depths of
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today Srebrenica women cry tears of joy

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today Abeer Sabry reveals reason of “The Flood” success

GMT 08:03 2017 Tuesday ,21 November

Abeer Sabry reveals reason of “The Flood” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 10:43 2017 Wednesday ,22 November

Cigar-shaped asteroid came

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday