Sheikh Rashid Bin Humaid Al Nuaimi, the chairman of the Municipality and Planning Department of Ajman and the vice chairman of the bank’s board, attended the board meeting of Ajman Bank, which was presided over by Sheikh Ammar Bin Humaid Al Nuaimi, the Crown Prince of Ajman and the bank’s chairman.
During the meeting at the bank’s headquarters, the board evaluated ordinary business operations, discussed a number of financial and administrative issues, and made decisions based on those discussions.
In contrast to the net loss of Dhs87 million in 9M’23 and 9M’24, Ajman Bank achieves its highest-ever “Profit before Tax” of Dhs313 million in 9M’24. This impressive achievement follows a 9% rise in net operating income of Dhs616 million and total operating income of Dhs1.2 billion (compared to Dhs1.1 billion during the same period in 2023). Return on Asset (annualised) and Return on Shareholder Equity (annualised) for 9M 2024 were reported at 1.6% (up 205 bps) and 12.8% (up 1,669 bps), respectively.
A stable balance sheet with total assets of Dhs24.4 billion, customer deposits of Dhs20.3 billion, and equity of Dhs3.0 billion supports the impressive achievements. Asset quality and capital position continue to demonstrate significant progress .
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