Arab Today, arab today ajman bank’s net profit soars by 623
Last Updated : GMT 21:05:58
Arab Today, arab today
Arab Today, arab today

Ajman Bank’s net profit soars by 623%

Arab Today, arab today

Arab Today, arab today Ajman Bank’s net profit soars by 623%

Ajman - Arabstoday

Ajman Bank, the award-winning financial services institution and winner of the ‘Fastest Growing Bank in the UAE’ title, announced on Wednesday its financial results for the first nine months ended Sept.30, 2012, demonstrating record growth and continued positive momentum. Ajman Bank reported a net profit of Dhs25.2 million for the first nine months of this year, representing a robust increase of 623 per cent from the same period in 2011. Profit for the third quarter of 2012 was of Dhs13.5 million up by 350 per cent from Dhs3 million for the third quarter of last year. The third quarter profit also rose by 87 per cent compared to the profit of Dhs7.2 million recorded during the second quarter of 2012. Sheikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank, commented on the results, saying: “Ajman Bank’s solid financial performance during the first half of 2012 and throughout the third quarter is a reflection of the UAE’s growing economy and of our consistent and balanced business strategy.” “The Bank has seen a significant increase in its market share. With tremendous growth opportunities yet to be fully tapped, Ajman Bank is poised for major growth in the coming years and therefore it is essential to ensure that strong foundations are in place to support this growth, overcome global market challenges, and achieve sustainable profitability.” Mohamed Amiri, Acting Chief Executive Officer, Ajman Bank, said: “These results represent a very positive outlook for the year. Our record of consistent delivery is testament to the resilience of the Bank’s business model. We are proud to see that our customers are increasingly satisfied with our services.” He also added: “Having launched initiatives to improve earnings, we continue to adopt the latest technologies and are actively investing to improve our customer value proposition to keep Ajman Bank at the forefront of the Islamic retail banking industry, with a dynamic customer-centric approach meant to answer our growing customer base requirements, while providing pioneering products, ongoing rewards, and a gratifying banking experience.” As a result of various strategic initiatives undertaken during the first 9 months of 2012, Ajman Bank reported strong revenue growth with the Bank’s Net Operating Income for the nine-month period amounting to Dhs169 million, an increase of 33 per cent compared to Dhs126 million achieved at the end of the corresponding period of 2011. One of the most notable areas of income growth during Q3, 2012 was the increased income from Islamic financing, which stood at Dhs157 million with a 9 per cent growth compared to Dhs143 million at the end of the third quarter of 2011. Income from investment securities rose by 31 per cent and income from fees and commission grew by 79 per cent compared to September 2011. Total balance sheet size grew to Dhs5.2 billion at the end of September 2012, recording over 30 per cent increase from the total asset size of Dhs3.9 billion at the end of December 2011. 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’s net profit soars by 623 Arab Today, arab today ajman bank’s net profit soars by 623

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Dozens dead in US-led Syria strikes

GMT 08:35 2017 Thursday ,23 March

Dozens dead in US-led Syria strikes
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today MP submits a petition to dismiss university head

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Actress Mervat Amin reveals her role in new series
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 06:04 2017 Thursday ,23 March

Haifa Wahby bets on her new drama show

GMT 22:00 2017 Thursday ,23 March

Number of unwedded girls amounts to 2.5m

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
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