Ajman Bank Q1 profit hits AED 130m on strong revenue growth

April 29, 2026 / 11:04 PM

Sharjah24-WAM: Ajman Bank reported strong financial results for the first quarter of 2026, recording a net profit after tax of AED 130 million, with total revenue up 22% year on year to AED 443 million.

Solid financial performance

Net profit before tax reached AED 134 million, while net revenue increased by 12% to AED 222 million. Non-funded income rose to AED 63 million, representing 28% of net revenue, reflecting the bank’s progress in diversifying its income streams.

Leadership highlights growth momentum

His Highness Sheikh Ammar bin Humaid Al Nuaimi, Chairman of Ajman Bank, said the results underscore the bank’s steady growth and strong position in the UAE banking sector.

Balance sheet expansion

Total assets reached AED 33 billion, with customer financing up 9% to AED 23.2 billion. Deposits stood at AED 28 billion, while shareholder equity reached AED 3.2 billion, supporting a strong capital position.

Improved profitability and asset quality

Return on Equity rose to 15.5%, while Return on Assets stood at 1.6%. The non-performing financing ratio declined to 6.5%, reflecting improved asset quality and risk management.

Digital transformation accelerates

Mustafa Al Khalfawi, CEO of Ajman Bank, said the results demonstrate disciplined growth and a resilient business model.

The bank continues to expand its digital capabilities through the “Ajman Bank One” platform, launched in April 2026, and through AI-powered services, including the assistant “Hamad.”

Growing customer base

The bank’s customer base grew by 7% in Q1, with new customer acquisition up 36% year-on-year. Digital onboarding increased by 29%, highlighting strong adoption of digital channels.