ajman bank’s net profit soars by 623
Last Updated : GMT 10:38:17
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

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’s net profit soars by 623 ajman bank’s net profit soars by 623

 



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’s net profit soars by 623 ajman bank’s net profit soars by 623

 



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 Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Airbnb raided by Japan

GMT 01:55 2017 Saturday ,18 November

Airbnb raided by Japan
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 May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
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 Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
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 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

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 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

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