Dubai – Mubasher: The net profits of Ajman Bank surged by 117% year-on-year (YoY) to AED 116.16 million in 2021, compared to AED 53.4 million, according to the bank's financials for the period ended 31 December 2021.

The bank recorded a net operating income of AED 668.08 million in 2021, up from AED 614.68 million in the earlier year.

The basic and diluted earnings per share (EPS) stood at AED 0.055 last year, against AED 0.025 in 2020.

As of 31 December 2021, the bank's total assets amounted to AED 22.3 billion, compared to AED 21.5 billion as of 31 December 2020.

The CEO of Ajman Bank, Mohamed Amiri, said: "Ajman Bank’s strong performance is driven by a well-defined business strategy, favourable product mix and exceptional customer service combined with industry-leading technological solutions and digitalisation."

Amiri commented: "We are very optimistic about the future and believe we can achieve great results consistently through focusing on diversifying sectors, enhancing gross margins, and concentrating on non-funded income."

It is noteworthy to mention that during the first nine months (9M) of 2021, the net profits of Ajman Bank jumped to AED 90.13 million from AED 55.858 million in the year-ago period.