Al Ansari Financial Services PJSC

Logotype for Al Ansari Financial Services PJSC
Ticker/ISIN
ALANSARI
AEE01198A238
Market/Country
Dubai Financial Market
United Arab Emirates

About Al Ansari Financial Services PJSC

Al Ansari Financial Services PJSC (the “Group”) is one of the leading integrated financial services groups in the United Arab Emirates with a history dating back to its establishment as a family business in 1966. On 31 March 2023, the Company was established in its current form, as a public joint stock company.

The Group's global platform provides cross-border payments, foreign exchange solutions, access to the Wage Protection System in the United Arab Emirates and other services such as bill collection and pre-paid cards as well as payment technology solutions to consumers and businesses in the large and growing payments and foreign exchange and remittance market in the United Arab Emirates. The Group delivers its products and services through a comprehensive global network underpinned by its proprietary technology.

Company's Activities are detailed in AOA and Listing Prospectus.

Latest Pressrelease Summaries from 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.
Al Ansari Financial Services PJSC announced that its shareholders have approved a total cash dividend of AED 315 million for 2024, which is 78% of the company's net profit after tax. This includes a final dividend payment of AED 157.5 million for the second half of 2024, following an interim dividend of the same amount distributed in October 2024. Chairman Mohammad A. Al Ansari emphasized the company's commitment to shareholder value and strategic growth, despite market challenges. As part of its growth strategy, Al Ansari Financial Services is set to acquire BFC Group Holding for AED 735 million, which will expand its regional presence and strengthen its market position. The acquisition will make it the largest exchange company in Bahrain and the third largest in Kuwait, while also enhancing its presence in India. The company aims to maintain strong financial fundamentals and deliver sustainable shareholder value.

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News Update From Al Ansari Financial Services PJSC

Disclosure: BOD meeting

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DFM News

News Update From Al Ansari Financial Services PJSC

Disclosure: Press release

Al Ansari Financial Services has approved an interim cash dividend of AED 300 million at its first General Assembly Meeting. This approval follows the company's listing on the Dubai Financial Market (DFM) in April 2023. A second payment of at least AED 300 million is planned for April 2024. Future dividend distribution will be subject to the Board of Directors' recommendations and shareholder approval. The CEO of Al Ansari Financial Services stated that the approved cash distribution demonstrates the company's commitment to providing consistent returns and long-term value for its shareholders. The company plans to distribute cash dividends in November 2023 and April 2024.

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News Update From Al Ansari Financial Services PJSC

Disclosure: Resolutions of General Assembly

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News Update From Al Ansari Financial Services PJSC

Disclosure: Press Release

Al Ansari Financial Services' subsidiary, CashTrans, has opened a state-of-the-art Cash Management Centre in Dubai. The centre, located in the secure Dubai CommerCity area close to Dubai International Airport, provides a range of cash vault services including the import and export of banknotes internationally, the transfer of money and valuables locally, and cash processing and vaulting services. The centre is fully equipped to securely handle and store cash and valuable items. The move aligns with Al Ansari Financial Services' growth strategy to expand its services and enhance corporate customer satisfaction.

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News Update From Al Ansari Financial Services PJSC

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Zain FinTech and Al Ansari Financial Services have entered a Memorandum of Understanding (MoU) to collaborate on enhancing financial services through technology. This partnership aligns with Zain's growth strategy to expand its fintech services and advance the region's digital ecosystem. Both companies aim to redefine the remittance experience and enable secure fund transfers by leveraging fintech and other modern tools. The alliance will allow them to advance financial services and tech solutions in the region, improving customer experiences in the markets they operate. Zain FinTech, a part of Zain Group, offers a variety of innovative products and services related to payments, remittances, credit cards, and micro-finance.

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News Update From Al Ansari Financial Services PJSC

Disclosure: Invitation of General Assembly

The document is a special proxy given by a shareholder of Al Ansari Financial Services PJSC to a representative. The representative is authorized to vote on the shareholder's behalf at the General Assembly meeting scheduled for Wednesday, 1 November 2023, or any adjourned meeting. The document is dated and signed by the shareholder.

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News Update From Al Ansari Financial Services PJSC

Disclosure: Press release

Al Ansari Financial Services has announced that it has employed over 360 UAE nationals in the first nine months of this year, increasing the percentage of Emirati employees in its workforce to 13.3%. This move is in line with the UAE’s 'Projects of the 50' Emiratisation policy and is aimed at enhancing diversity and skill levels within the company. The new hires, who hold various roles across the group, have access to learning and development programmes and resources from the Group’s Learning Academy. The company has been actively participating in hiring and networking events for local talent.

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News Update From Al Ansari Financial Services PJSC

Disclosure: Press release

Al Ansari Financial Services' Board of Directors has recommended an interim dividend payment of AED 300 million (4.0 fils per share), pending approval from shareholders at the upcoming General Assembly and adherence to regulatory requirements. This proposed payout aligns with the company's previously announced dividend policy of distributing AED 600 million for the 2023 earnings, with half to be paid in 2023 and the remaining in 2024.

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DFM News

News Update From Al Ansari Financial Services PJSC

Disclosure: Results of BOD meeting

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DFM News profile image

DFM News

News Update From Al Ansari Financial Services PJSC

Disclosure: BOD meeting

1. Attached Document