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Ajman Bank’s profit rises 43% in H1-18

Ajman Bank’s profit rises 43% in H1-18
Operating income levelled up 3% to AED 270 million in H1-18
Ajman Bank
AJMANBANK
-0.54% 1.85 -0.01

Dubai – Mubasher: Ajman Bank on Sunday posted a 43% hike in its profits for the first half of 2018.

The UAE-based bank's net profits amounted to AED 79 million in H1-18, compared to AED 55.3 million in H1-17, according to a filing to the Dubai Financial Market (DFM).

Operating income levelled up 3% to AED 270 million in the period between January to June, versus AED 261.7 million in the same period a year earlier, the sharia-compliant lender said.   

On the other hand, the impairment charge for financial assets slid 35% year-on-year to AED 53.5 million in H1-18.

Ajman Bank’s assets jumped 13%, recording AED 20.69 million in H1-18, from AED 18 in H1-17.

It is worth noting that the bank’s profits advanced 31% to AED 34.02 in Q1-18, compared to AED 26 million in Q1-17.