Arab Today, arab today ajman bank registers dhs485m income in q2
Last Updated : GMT 13:29:11
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

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*

Arab Today, arab today ajman bank registers dhs485m income in q2 Arab Today, arab today ajman bank registers dhs485m income in q2

 



Arab Today, arab today
Arab Today, arab today Nasima Gamei revives heritage in jewelries

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today Saudis await visitors but will they come?

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
Arab Today, arab today Media host Mona Iraqi stresses her show's success

GMT 15:32 2017 Wednesday ,22 February

Media host Mona Iraqi stresses her show's success
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today To hold social dialogue over secondary school

GMT 07:43 2017 Wednesday ,22 February

To hold social dialogue over secondary school
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
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