Search DubaiPRNetwork.com

Dubai and UAE

Thursday, February 18, 2021/ Editor

Home >> Business and Economy

Ajman Bank Reports Net Profit of AED 53.4 Million in 2020

Ajman Bank Reports Net Profit of AED 53.4 Million in 2020

Home >> Business and Economy
United Arab Emirates -  February 18, 2021:    Ajman Bank has announced its financial results for the full year ending 31 December 2020. The Bank reported revenue of AED 614.6 million in 2020 compared to AED 636.0 million in the previous year. The net operating profit in 2020 was reported as AED 53.4 million.
 
Demonstrating its resilience, Ajman Bank made excellent progress in its business objectives despite the unprecedented economic challenges and market conditions due to the impact of the global pandemic on all sectors of the economy. The Bank’s robust performance is reflection of its strong liquidity and capital ratios as well as high level of dedication and commitment to superior service to ensure the continuity of all operations during the crisis. Staff costs and, general and administrative expenses for the year amounted to AED 235.1 million as compared to AED 258.5 million in 2019, due to operational efficiencies achieved by the Bank.
 
Mr. Mohamed Amiri, Chief Executive Officer, Ajman Bank, stated, “Ajman Bank is an integral part of the national economy of the UAE. The operating environment is evolving due to the ongoing challenges and through our solid system and processes, forward-looking provisions, and disciplined management, we made great progress. Crucially, our highly dedicated and hardworking team continued to serve our customers effectively and efficiently throughout this challenging year and the results are testament to this. Moving forward, we are focused on building momentum in our core areas for long-term growth, profitability and sustainable value while paving way to greater success with industry-leading products, innovative digital solutions and powerful strategy.”

 

Share


Previous in Business and Economy

Next in Business and Economy


Home >> Business and Economy Section

Latest Press Release

“Dubai Customs” celebrates the graduation of the first cohort of participants in the security refres ...

G-SHOCK's Summer Style Statement: Metal-Cased Watches That Define the Season

Hatta Hosts Summer Sports Festival to Attract Over 6,000 Participants as Part of 'Our Summer is Spor ...

flydubai breaks ground on new Aircraft Maintenance Centre at Dubai South

The most common mistakes in the care and use of your car's tyres

UAE Team Emirates-XRG and Tadej Pogačar aim for fourth Tour de France title

Dubai Airports hosts guided travel simulation experience for children with autism spectrum disorder ...

Vacheron constantin presents les cabinotiers Temporis duo grand complication openface

Emirates arrives in Shenzhen

Sorbonne University Abu Dhabi and Électricité de France Forge Sustainability-Focused Partnershi ...

Khalifa Fund for Enterprise Development's Abu Dhabi SME Champions Program facilitates 650+ deals wor ...

Gargash Group Accelerates Sustainability Agenda with New Sustainability Linked Facility from Mashreq

Hamdan Smart University Launches College of Sustainability and Green Economy

Mohammed Bin Rashid Innovation Fund Launches a New Chapter to Strengthen Government Innovation

RTA Completes Traffic Upgrades to Improve Connectivity Between Sheikh Zayed Road and Al Khail Road v ...

Dubai Municipality Announces Registration Opening for the Second Edition of the Food Systems Excelle ...

Emirates Aviation University marks 35 years of supporting the local and global aviation ecosystem

Emirates layers on retrofitted aircraft with latest product, including Premium Economy to more citie ...

Music, Maps, and Stories at the Mohammed Bin Rashid Library in July

New SHEGLAM Daydreamer Mini Palette Turns Pocket-Sized into Power Pigment