Dubai PR Network, Online Press Release from Dubai and Middle East
 
Banking & Insurance(Banking & Investments)
Filter PR by
  
Ajman Bank Reports Net Profit of AED 53.4 Million in 2020
 
Ajman Bank Reports Net Profit of AED 53.4 Million in 2020
United Arab Emirates -  February 18, 2021:    Ajman Bank has announced its financial results for the full year ending 31 December 2020. The Bank reported revenue of AED 614.6 million in 2020 compared to AED 636.0 million in the previous year. The net operating profit in 2020 was reported as AED 53.4 million.
 
Demonstrating its resilience, Ajman Bank made excellent progress in its business objectives despite the unprecedented economic challenges and market conditions due to the impact of the global pandemic on all sectors of the economy. The Bank’s robust performance is reflection of its strong liquidity and capital ratios as well as high level of dedication and commitment to superior service to ensure the continuity of all operations during the crisis. Staff costs and, general and administrative expenses for the year amounted to AED 235.1 million as compared to AED 258.5 million in 2019, due to operational efficiencies achieved by the Bank.
 
Mr. Mohamed Amiri, Chief Executive Officer, Ajman Bank, stated, “Ajman Bank is an integral part of the national economy of the UAE. The operating environment is evolving due to the ongoing challenges and through our solid system and processes, forward-looking provisions, and disciplined management, we made great progress. Crucially, our highly dedicated and hardworking team continued to serve our customers effectively and efficiently throughout this challenging year and the results are testament to this. Moving forward, we are focused on building momentum in our core areas for long-term growth, profitability and sustainable value while paving way to greater success with industry-leading products, innovative digital solutions and powerful strategy.”


Posted by : Dubai PR Network Editorial Team
Viewed 1793 times
PR Category : Banking & Investments
Posted on : Thursday, February 18, 2021  10:35:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Saxo Bank announces 2020 Results
Next Story : Dubai Islamic Bank Full Year 2020 Group Financial Results
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Mouawad Renews its Partnership with SHE IS MORE Empowering Women to Create Covid-Resilient... [8544-Views]
MAKE UP FOR EVER Presents the Brand-new Matte Velvet Skin Concealer [7249-Views]
GHD's Smart Styler That Predicts Your Hair's Needs [6995-Views]
Five Fabulous Reasons to include Rosalique in your Skincare Regime [4785-Views]
Jaguar Land Rover Reimagines the Future of Modern Luxury by Design [4063-Views]
HONOR Watch ES: Effortless Design for a Sophisticated Look [3899-Views]
The New Originals" for Spring 2021 [3600-Views]
One of the World's Youngest Environmental Activists Challenges Schools to Offer Sustainabi... [3108-Views]
Delta World Charter Signs Lease Agreement with Fly2Sky for two Airbus A320 Aircrafts [2874-Views]
Airbus Space Technology Reaches Mars [2649-Views]
32 Food Outlets Closed in Dubai for Violating Covid-19 Precautionary Measures [2546-Views]
Hyundai NEXO awarded ‘Alternative Energy Car Of The Year' Award at annual GQ Car Awards 20... [2480-Views]
Al Ain Nursing Department Awarded for Outstanding Quality of Care [2480-Views]
Dubai Municipality wins Hamdan Bin Rashid Al Maktoum Award for Distinguished Academic Perf... [2415-Views]
Capture Details That Matter with HONOR 9X PRO [2292-Views]
Discover FILORGA's High Protection Suncare Solution [2239-Views]
258 Top-Flight Falcons Compete at Al Noukhba (Elite) Super Finals in Dubai [2234-Views]
Looking for a New Earphone, but Can't Make a Choice? Huawei's Array of Audio Devices Is He... [2157-Views]
The SPA at Palazzo Versace Dubai Launches Two Unique Facials in Collaboration with BABOR [2140-Views]
Dubai Islamic Bank Full Year 2020 Group Financial Results [2120-Views]
Sharjah Highlights Lucrative Opportunities for Polish Companies in a Wide Range of Emergin... [2091-Views]
Dubai Chamber Sustainability Network Members Recognised for 2020 Achievements [1968-Views]
Etihad Cargo Joins UNICEF Humanitarian Airfreight Initiative for Vaccine and Essential Med... [1935-Views]
DLD: 3,300 Transactions worth AED 6.74 Billion in January 2021 [1911-Views]
Al-Futtaim Lexus Reveals Six Finalists for Lexus Design Award 2021 [1861-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories