Al Ansari Financial Services Posts 10% Profit Rise as Digital and Regional Expansion Gains Pace
Operating income climbed 7 percent to AED294 million, while EBITDA rose 13 percent to AED138 million, maintaining a healthy EBITDA margin of 46.8 percent. The company also saw a modest 1 percent increase in total transactions, reaching 12.5 million in the first quarter.
Growth was especially notable in digital channels, which recorded a 16 percent rise in transaction volume and now account for nearly a quarter of all outward remittances. Banknote transaction values rose 6 percent to AED22 billion, and salary disbursals through the Wage Protection System surged 27 percent to 2.5 million.
Group CEO Rashed A. Al Ansari credited the results to disciplined execution and a sharp focus on customer experience, despite a challenging geopolitical and competitive landscape.
Deputy Group CEO Mohammad Bitar highlighted the completion of the BFC acquisition as a key milestone in the company's regional growth strategy. He also announced the launch of a new digital wallet, which is expected to reshape how customers manage their finances and further solidify Al Ansari's position in the fintech space.
The Q1 results reflect the company's continued emphasis on digital innovation and regional expansion, setting a positive tone for the rest of the year.
News Source: Emirates News Agency
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