28/10/2026 03:44 AST
Ajman Bank reported a net profit before tax of Dh352 million in the first nine months of 2026, as total revenue rose 12 per cent year-on-year to Dh1.35 billion, supported by growth in customer financing and improving asset quality.
The results were announced during a board meeting chaired by Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of the Ajman Executive Council and Chairman of Ajman Bank.
Net revenue increased 2 per cent year-on-year to Dh670 million, while operating profit before impairment reached Dh340 million.
The bank's total assets rose 9 per cent to Dh35.8 billion, while customer financing grew 13 per cent to Dh24.1 billion, reflecting continued demand across its financing portfolio.
Total deposits reached Dh28.4 billion, strengthening the bank's funding base.
Asset quality improves
Ajman Bank reported further improvement in asset quality, with its non-performing financing ratio declining to 5 per cent, down 203 basis points since the beginning of the year and 273 basis points year-on-year.
Shareholders' equity increased 27 per cent to Dh4.4 billion, while the total capital ratio rose by 308 basis points to 17.1 per cent.
Return on assets stood at 1.3 per cent, while return on equity reached 11 per cent.
Focus on sustainable growth
Sheikh Ammar said the bank's performance reflected its strategic direction and commitment to supporting economic development in Ajman and across the UAE.
"Ajman Bank's performance reflects the strength of its strategic direction and its commitment to supporting the economic development of Ajman and the wider UAE," he said.
He added that the bank remains focused on sustainable growth, responsible banking and creating long-term value for customers and shareholders, guided by Shariah principles.
Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank, said the results reflected continued progress in executing the bank's strategy.
"Our performance in the first nine months of the year demonstrates the continued execution of our strategy, supported by record quarterly revenue, growth in customer financing and further improvement in asset quality," he said.
He added that continued investment in automation and digitalisation would help improve customer experience and strengthen the bank's operational capabilities.
Looking ahead, the bank said it would continue focusing on financial discipline, prudent risk management and Shariah-compliant banking solutions for individuals, businesses and government entities.
Khaleej Times
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