Dubai Financial Market sees significant $10.51 mln trading on Al Ansari, Ajman Bank | Arabian Weekly

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Dubai Financial Market sees significant .51 mln trading on Al Ansari, Ajman Bank | Arabian Weekly


Dubai’s financial landscape has showcased substantial activity in recent trades, with the Dubai Financial Market (DFM) witnessing trades valued at $10.51 million across major players, particularly Al Ansari Financial Services and Ajman Bank. Al Ansari’s consistent performance, marked by a 5% rise in operating income to AED 578 million for the first half of 2023, is partly fueled by high corporate demand and an increased volume of remittance services. Meanwhile, Ajman Bank has been reinforcing its position through strategic shifts and digital integration, contributing to DFM’s evolving landscape as banks in the UAE increasingly target digital transformation to streamline operations and enhance customer experience.

Al Ansari’s notable transaction growth reflects its stronghold in remittances and diverse financial services. The company reported a transaction volume increase of 10.7% for H1-2023, driven largely by its comprehensive service offerings to corporate and retail clients alike. Its Bank Notes business segment has also benefited from UAE’s tourism rebound, as visitors contributed to increased usage of multi-currency cards, particularly during peak holiday seasons. Despite a minor dip in remittance profit margins, Al Ansari remains financially sound, maintaining an EBITDA of AED 299 million and committing to its shareholders with a minimum dividend payout of AED 600 million. This investor-focused approach aligns with the company’s market goals, aiming to fortify its footprint across multiple financial segments in the region.


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