Dubai — Mubasher: Ajman Bank on Thursday posted 32% year-on-year profit growth during the fourth quarter of 2018, recording AED 50.2 million against AED 38.1 million.

The Emirati lender’s profit leaped 28% to AED 170 million for the full-year 2018, compared to AED 132.6 million a year earlier, Ajman Bank said in a statement to the Dubai Financial Market (DFM).

Impairment charge for financial assets dipped% to AED   million last year, against AED 195 million in 2017.

Earnings per Share (EPS) stood at AED 0.097 in 2018, up from AED 0.077 in the year before, the lender said.

During the first nine months of 2018, Ajman Bank's profit surged 27% to AED 119.8 million, versus AED 94.5 million in the prior-year period.

From January to September 2018, the DFM-listed bank’s operating revenues levelled up 3% to AED 270 million, from AED 261.7 million in the year-ago period.

By the end of Wednesday’s trading session, the bank’s stock declined 4.87% to AED 0.82.