Press releases, Reports & Disclosures for Al Ansari Financial Services PJSC

Al Ansari Exchange, a leading remittance and foreign exchange company in the UAE, announced the winner of its 2025 Al Ansari Millionaire Promotion. Albert Rioflorido, a Filipino resident in the UAE for 12 years, won the AED 1 million grand prize during a draw at the Metropolitan Hotel in Dubai. The promotion ran from March 1 to May 29, 2025, with millions participating through transactions at Al Ansari Exchange branches and digital platforms. Two additional winners, Muhammad Rizwan Malik and Mohamad Khalil Haitham, each won a Jetour Dashing SUV, and weekly draws awarded 12 customers holiday packages worth AED 5,000 each. The campaign saw increased engagement via the Al Ansari Exchange app, offering triple entries per transaction and exclusive deals. Chief Operating Officer Ali Al Najjar highlighted the campaign's role in celebrating customer trust and rewarding loyalty, with partnerships from JS Bank, Jetour, and Travelwings. Now in its 12th year, the Al Ansari Millionaire Promotion is a key annual event for the company.

Al Ansari Financial Services PJSC, the largest non-banking financial services provider in the GCC, has opened a new business solutions center in Hyderabad, India. This center, named Al Ansari Financial Services Solutions Private Limited, is intended to enhance efficiency, productivity, and cost-effectiveness for the Group. By capitalizing on India's talent and technological expertise, the center will support the Group's digital transformation efforts. Deputy Group CEO Mohammad Bitar highlighted the Group's commitment to innovation and operational excellence, emphasizing the new office's role in streamlining operations and creating career opportunities. The India office will focus on optimizing processes and developing solutions for the financial industry, aiming to foster collaboration and innovation. Initially, an IT Excellence Centre has been set up, with plans to expand into business process outsourcing services to further optimize operations and support strategic growth.

The text references a date, May 15, 2025, and mentions H.E. Waleed Saeed Al Awadi.

Al Ansari Financial Services reported a 10% increase in net profit after tax, reaching AED 109 million, driven by strong operating income and robust performance across all business lines. Operating income rose by 7% year-over-year (YoY) to AED 294 million, contributing to a 13% YoY increase in EBITDA, which amounted to AED 138 million with a margin of 46.8%. Total transactions grew by 1% YoY to 12.5 million, while the value of bank notes transactions increased by 6% YoY to AED 22 billion. The Wage Protection System saw a 27% YoY increase in salary disbursals, reaching 2.5 million. Digital channels experienced a 16% YoY rise in transactions, making up 24% of overall outward remittances. The company is expanding in line with its strategy, with Al Ansari Exchange's physical branches reaching 270 by Q1 2025. Al Ansari Financial Services completed the acquisition of BFC Group Holdings, with figures to be consolidated in Q2 2025, and plans to acquire Al Ansari Exchange in Kuwait by Q2 2025. Additionally, the Al Ansari Digital Wallet is set to launch in Q2 2025.

Al Ansari Financial Services PJSC and its subsidiaries have released a review report and condensed interim consolidated financial statements for the first quarter, covering the three-month period ending on March 31, 2025.

Al Ansari Financial Services (AAFS) has completed its acquisition of BFC Group Holdings, becoming the largest non-banking financial services provider in the Gulf Cooperation Council (GCC) region by branch network. This $200 million transaction expands AAFS's presence in Bahrain, Kuwait, and India, increasing its customer base by 29% and branch network by 60%. The acquisition enhances AAFS's operational scale and geographic diversification, benefiting shareholders, customers, and employees. AAFS, known for its digital innovation, plans to extend its digital model to BFC Group entities, reinforcing its position as a digital-first player. The acquisition secures AAFS's market leadership in remittances and foreign exchange, strengthens its regional footprint, and complements its growth strategy with BFC's fintech expertise. The integration is expected to generate cost efficiencies and drive revenue growth.

Al Ansari Digital Pay, the fintech division of Al Ansari Financial Services, has received final approvals from the Central Bank of the UAE for licenses necessary to launch its digital wallet. This development supports financial inclusion and the UAE's move towards a cashless society. The approvals include the Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licenses, allowing the company to offer digital accounts, prepaid cards, and payment services for businesses. The Al Ansari Wallet, a comprehensive mobile application, is set to launch in Q2 2025, providing financial services to both individuals and businesses, including those without traditional banking access. The initiative aims to enhance digital payment solutions in the UAE.