Press releases, Reports & Disclosures for AJMAN BANK PJSC

Ajman Bank PJSC has prepared its report and consolidated financial statements for the year ending on December 31, 2024. These audited financial statements are pending approval by the Central Bank of the UAE and adoption by shareholders at the Annual General Meeting.

Ajman Bank has reported its highest annual profits in its history, achieving AED 440 million, representing a growth of 213% compared to a net loss of AED 390 million in 2023. The bank's record-breaking performance includes a total operating income of AED 1.5 billion and net operating income of AED 736 million. The bank's return on shareholder equity reached 12.9%, and return on assets was 1.8%. Ajman Bank's strong financial results are backed by a healthy balance sheet, with total assets of AED 23 billion, customer deposits of AED 19 billion, and equity of AED 3.1 billion. Key financial ratios have improved significantly, including a reduction in the non-performing loan ratio from 13.8% to 9.9%, and the ECL coverage ratio has doubled. The bank has proposed a cash dividend of 7.25%.

A notification has been issued to inform that the ownership percentage of H.H Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman, in Ajman Bank has increased from 12.3108% to 14.1466%.

Ajman Bank reported its highest-ever profit before tax for the first nine months of 2024, totaling AED 313 million, marking a 458% increase from the previous year. This improvement follows a previous net loss of AED 87 million for the same period in 2023. The bank's strong performance is attributed to a 9% rise in total operating income to AED 1.2 billion. Key financial metrics such as Return on Shareholder Equity and Return on Assets also showed significant improvements. The bank's robust results are supported by a healthy balance sheet, with total assets of AED 24.4 billion, customer deposits of AED 20.3 billion, and equity of AED 3.0 billion. The board meeting, chaired by His Highness Sheikh Ammar bin Humaid Al Nuaimi, discussed various financial and administrative matters.