Ajman: Ajman Bank PJSC reported a robust first quarter, posting net profit before tax of AED 134 million and net profit after tax of AED 130 million, as total revenue rose 22% year-on-year to AED 443 million, reflecting growth across the Bank’s core financing, treasury, and fee-generating businesses. Net revenue increased 12% to AED 222 million, while non-funded income reached AED 63 million, equivalent to 28% of net revenue, indicating progress in diversifying the income base beyond financing margin.
According to Emirates News Agency, H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of the Executive Council, and Chairman of Ajman Bank, stated that the results reflect the Bank’s role within a UAE banking sector that continues to operate from a position of strength. He emphasized the Bank’s commitment to building lasting value, grounded in Shari’ah principles, and highlighted the 22% revenue growth as a signal of the business’s positive trajectory, with customers across retail, corporate, and government sectors deepening their relationship with the Bank.
Ajman Bank optimized its balance assets, standing at AED 33 billion at the end of the quarter, with customer financing growing 9% to AED 23.2 billion, driven by demand across key lending segments. Total deposits reached AED 28 billion, with current account and savings account balances rising 16% quarter-on-quarter, showcasing the Bank’s ability to attract and retain low-cost, relationship-driven funding. Total shareholder equity stood at AED 3.2 billion, supporting a Common Equity Tier 1 (CET1) capital ratio of 12.6%.
Profitability metrics improved, with Return on Equity rising 30 basis points to 15.5% and Return on Assets at 1.6%, both reflecting efficient capital deployment and a firmer earnings trajectory. Asset quality improved, with the non-performing financing ratio declining to 6.5%, reflecting strengthened risk management and portfolio quality.
Mustafa Al Khalfawi, Chief Executive Officer, noted that the quarter’s results demonstrated the Bank’s strategy translating into measurable financial outcomes, reflecting the strength and sustainability of Ajman Bank’s performance. He highlighted disciplined asset growth, prudent funding cost management, and the development of diversified income streams as enhancing the resilience of the business model.
The Bank continues to advance its digital capabilities through the ‘Ajman Bank One’ platform, enhancing customer experience while introducing new products and systems throughout 2026. In Q1 2026, the Bank’s customer base grew by 7%, with new customer acquisition increasing by 36% compared to the same period last year. Digital and AI-driven services saw increased usage of the mobile banking application and the generative AI-powered assistant ‘Hamad.’
The Bank successfully tested its new flagship mobile application ‘Ajman Bank One,’ launched on 10 April 2026, set to enhance digital services and enable straight-through processing across core retail products. On the corporate banking side, the Bank is preparing to launch a fully integrated digital platform and mobile application, ‘Ajman Bank One Corp,’ in Q2 2026.
Overall, these results reflect resilient and well-balanced performance, underpinning measured growth, improving returns, a strong financial position, and increasing diversification of income streams, reinforcing the Bank’s ability to sustain stable performance amid evolving economic conditions.