Ajman Bank profits rise 6% in 2017

Dubai – Mubasher: Ajman Bank on Sunday reported positive financial results for the full year 2017 and the final quarter of the year.

In 2017, Ajman Bank posted AED 132.6 million in profits, up 6% from AED 125.5 million in 2016.

Operating revenues grew 18% to AED 917.3 million last year from AED 777.1 million the year before, according to a statement to the Dubai Financial Market (DFM).

The bank’s assets further grew by 25% year-on-year to AED 20.03 billion, while customer deposits jumped 29% to AED 14.32 billion in 2017.

Ajman Bank had previously reported AED 94.45 million in profits for the first nine months of 2017, down 1.4% from AED 95.79 million in the same period of 2016.

In December, Ajman Bank signed an AED 500 million credit facility with Dubai-based property developer Omniyat that would be used to finance the construction of a mixed-use project at Dubai Water Canal in Business Bay.

Mubasher Contribution Time: 21-Jan-2018 06:19 (GMT)
Mubasher Last Update Time: 21-Jan-2018 07:55 (GMT)