Ajman Bank posts Dhs130 million net profit in first quarter of 2026

Ajman Bank reported a strong first quarter on Wednesday, posting net profit before tax of Dhs134 million and net profit after tax of Dhs130 million, as total revenue rose 22% year-on-year to Dhs443 million, reflecting growth across the Bank’s core financing, treasury and fee-generating businesses.

Net revenue increased 12% to Dhs222 million, while non-funded income reached Dhs63 million - equivalent to 28% of net revenue - pointing to continued progress in the Bank’s effort to build a more diversified income base beyond financing margin, resulting.

Sheikh Ammar Bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of the Executive Council and Chairman of Ajman Bank, said the results reflected the Bank’s role within a UAE banking sector that continues to operate from a position of strength.

“Ajman Bank’s performance in the first quarter confirms that we are building something of lasting value - an institution anchored in the Emirate of Ajman, grounded in Shari’ah principles, and growing with the confidence that comes from consistent execution,” Sheikh Ammar said.

“Revenue growth of 22% is a clear signal that the business is moving in the right direction, and that our customers across retail, corporate, and government are choosing to deepen their relationship with the Bank.” Ajman Bank optimised its balance assets, standing at Dhs33 billion at the end of the quarter with customer financing growing 9% to Dhs23.2 billion, driven by demand across the Bank’s key lending segments. Total deposits reached Dhs28 billion.

Current account and savings account balances rose 16% quarter-on-quarter, a measure of the Bank’s ability to attract and retain low-cost, relationship-driven funding. Total shareholder equity stood at Dhs 3.2 billion, supporting a Common Equity Tier 1 (CET1) capital ratio of 12.6% - comfortably above regulatory thresholds and consistent with a well-capitalized balance asset.

Profitability metrics improved across the board: Return on Equity rose 30 basis points to 15.5%, and Return on Assets at 1.6%, both reflecting more efficient capital deployment and a firmer earnings trajectory. Asset quality continued to improve, with the non-performing financing ratio declining to 6.5%, further down by 47 basis points quarter-on-quarter basis, reflecting strengthened risk management and portfolio quality.

Mustafa Al Khalfawi, Chief Executive Officer, said the quarter’s results demonstrated that the Bank’s strategy was translating into measurable financial outcomes. “Despite the challenges facing the region, in a complex and evolving geopolitical environment, the Bank’s 22% revenue growth reflects the strength and sustainability of Ajman Bank’s performance.

This is supported by disciplined asset growth, prudent funding cost management, and the development of diversified income streams built on strong foundations, enhancing the resilience of our business model, alongside continued cost discipline.’’ He added that “the 16% growth in Current Account and Savings Account (CASA) balances reflects the strengthening of Ajman Bank’s position as a primary banking partner. With improving returns, we enter the remainder of 2026 from a position of financial strength and will continue to build on this momentum with confidence and discipline.’’

WAM