Latest news with #SheikhAmmar
Zawya
a day ago
- Business
- Zawya
Ajman Bank reports profit of $72mln in H1 2025
AJMAN: H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Board of Ajman Bank, chaired the Bank's Board of Directors meeting on Tuesday to review key financial and administrative matters, and issue resolutions on commercial activities. Ajman Bank announced a profit before tax of AED266 million for the first half of 2025, marking a 14 percent increase compared to the same period in 2024, driven by sustained focus on core business performance, increased financing activity, and improved operational efficiency. Ajman Bank delivered a Total Operating Income of AED751 million, while net operating income reached AED399 million. The Bank's total assets increased by 17 percent compared to year-end 2024 to AED26.6 billion, supported by a 16 percent growth in the financing portfolio to AED17.8 billion. Customer deposits reached AED20 billion, up 11 percent year-to-date, reflecting continued growth across Consumer and Wholesale business segments. The Bank's total shareholders' equity rose to AED3.2 billion, up 4 percent year-to-date. H.H. Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank, said, 'Ajman Bank continues to deliver consistent results, underpinned by a resilient business model and a focused growth strategy. Our performance in the first half of 2025 reflects disciplined execution and the Bank's growing role in supporting economic development and financial sector sustainability in the UAE'. Ajman Bank's capital and liquidity metrics remained strong, with a Capital Adequacy Ratio (CAR) of 17.3 percent and a Tier 1 Capital Ratio held firm at 16.1 percent, notwithstanding 17 percent growth in total financing portfolio. Return on Equity (ROE) improved to 15.6 percent (up by 29 bps), while Return on Assets (ROA) increased to 1.9 percent (up by 9 bps). Ajman Bank's further strengthened strong liquidity position achieved an improved Eligible Liquid Assets Ratio (ELAR) at 18 percent and Loans-to-Stable Resources Ratio (LSRR) at 74 percent. Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank, said," Our first-half results demonstrate the strength of Ajman Bank's funding base, balance sheet, and operational model. We are focused on scaling platform productivity, improving cost-to-income performance, and diversifying access to capital. The successful launch of our co-branded POS solution, real-time settlement platform, and global Sukuk issuance all reflect growing confidence in our trajectory." On the back of proactive credit portfolio management, Asset quality continued to improve with the Non-Performing Loans (NPL) Ratio at 8.6 percent (down by 126 bps), 15 percent reduction in the aggregate of Gross Stage 2 & 3 exposure during H1 2025 and greater diversification achieved with the Real Estate Ratio reduced to 32.9 percent (down by 705 bps). The Bank continued to advance its digital infrastructure with targeted investment in SME onboarding platforms, merchant POS enablement, and real-time processing capabilities. These improvements are enhancing productivity, accelerating digital origination, and supporting end-to-end service automation across core segments. In May 2025, Ajman Bank successfully issued its debut USD 500 million 5-year Sukuk. The five-year issuance, listed on Nasdaq Dubai, achieved a 5.4X oversubscription, which also evidences the great trust of 100+ regional and international investors with participation of 65 percent and 35 percent allocation respectively. The Sukuk marks a strategic milestone in the Bank's funding diversification and access to international capital markets. Ajman Bank remains committed to its AED4 billion 'Sustainable Finance' pledge by 2030 and 'Net Zero Emission' by 2050, aligning its long-term strategy with Ajman Vision 2030 and the UAE's broader sustainable growth framework.
Zawya
2 days ago
- Business
- Zawya
Ajman Bank reports AED266mln in H1 2025 profit before tax
His Highness Sheikh Ammar bin Humaid Al Nuaimi Chairs Ajman Bank Board of Directors Meeting Ajman, United Arab Emirates: His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of the Board of Ajman Bank, chaired the Bank's Board of Directors meeting on Tuesday to review key financial and administrative matters, and issue resolutions on commercial activities. Ajman Bank announced a profit before tax of AED 266 million for the first half of 2025, a 14% increase compared to the same period in 2024, driven by sustained focus on core business performance, increased financing activity, and improved operational efficiency. Ajman Bank delivered a Total Operating Income of AED 751 million, while net operating income reached AED 399 million. The Bank's total assets increased by 17% compared to year-end 2024 to AED 26.6 billion, supported by a 16% growth in the financing portfolio to AED 17.8 billion. Customer deposits reached AED 20 billion, up 11% year-to-date, reflecting continued growth across Consumer and Wholesale business segments. The Bank's total shareholders' equity rose to AED 3.2 billion, up 4% year-to-date. His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Bank, said: 'Ajman Bank continues to deliver consistent results, underpinned by a resilient business model and a focused growth strategy. Our performance in the first half of 2025 reflects disciplined execution and the Bank's growing role in supporting economic development and financial sector sustainability in the UAE'. Ajman Bank's capital and liquidity metrics remained strong, with a Capital Adequacy Ratio (CAR) of 17.3% and a Tier 1 Capital Ratio held firm at 16.1%, notwithstanding 17% growth in total financing portfolio. Return on Equity (ROE) improved to 15.6% (up by 29 bps), while Return on Assets (ROA) increased to 1.9% (up by 9 bps). Ajman Bank's further strengthened strong liquidity position achieved an improved Eligible Liquid Assets Ratio (ELAR) at 18% and Loans-to-Stable Resources Ratio (LSRR) at 74%. Mustafa Al Khalfawi, Chief Executive Officer of Ajman Bank, said:" Our first-half results demonstrate the strength of Ajman Bank's funding base, balance sheet, and operational model. We are focused on scaling platform productivity, improving cost-to-income performance, and diversifying access to capital. The successful launch of our co-branded POS solution, real-time settlement platform, and global Sukuk issuance all reflect growing confidence in our trajectory." On the back of proactive credit portfolio management, Asset quality continued to improve with the Non-Performing Loans (NPL) Ratio at 8.6% (down by 126 bps), 15% reduction in the aggregate of Gross Stage 2 & 3 exposure during H1 2025 and greater diversification achieved with the Real Estate Ratio reduced to 32.9% (down by 705 bps). The Bank continued to advance its digital infrastructure with targeted investment in SME onboarding platforms, merchant POS enablement, and real-time processing capabilities. These improvements are enhancing productivity, accelerating digital origination, and supporting end-to-end service automation across core segments. In May 2025, Ajman Bank successfully issued its debut USD 500 million 5-year Sukuk. The five-year issuance, listed on Nasdaq Dubai, achieved a 5.4X oversubscription, which also evidences the great trust of 100+ regional and international investors with participation of 65% and 35% allocation respectively. The Sukuk marks a strategic milestone in the Bank's funding diversification and access to international capital markets. Ajman Bank remains committed to its AED 4 billion 'Sustainable Finance' pledge by 2030 and 'Net Zero Emission' by 2050, aligning its long-term strategy with Ajman Vision 2030 and the UAE's broader sustainable growth framework. About Ajman Bank Ajman Bank is an Islamic bank with an ambitious Vision based on the values of integrity, trust and transparency. It provides a wide range of Sharia-compliant, high-quality banking services to its customers, from individuals in its Consumer Banking vertical to companies, Government Related Enterprises and Financial Institutions in its Wholesale Banking business across the UAE and GCC. Leading technology is at the heart of customer experience, supplemented by the human touch to deliver bespoke financial solutions. Ajman Bank is headquartered in Ajman and enjoys the strong support of the Government of Ajman and is a key pillar in the Emirate's economic development strategy. The Bank continues its tireless efforts to establish a prominent position in the banking sector as a sustainable Islamic banking institution, with an emphasis on the need to achieve an optimal balance in the community and caring staff, in order to provide real value for shareholders and customers alike.
Arabian Business
23-06-2025
- Business
- Arabian Business
Ajman reduces work hours and launches remote work Fridays from July1
Ajman has unveiled a new plan with reduced hours and remote work on Fridays. The 'Balanced Summer' initiative for government employees is aimed at promoting work-life balance, family cohesion, and environmental sustainability during the summer months. The plan was approved during a meeting of the Ajman Executive Council chaired by Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman. Ajman work hours Under the initiative, 100 per cent remote work will be in effect every Friday from July 1 to August 22, 2025. In addition, working hours from Monday to Thursday will be reduced to seven hours, running from 7.30 am to 2.30 pm across all government entities. Key features of the Balanced Summer initiative include: 100 per cent remote work on Fridays (July 1 – August 22) Reduced office hours: Monday to Thursday, 7.30 am – 2.30pm Essential services to continue via flexible internal arrangements End-of-summer impact report due in September 2025 The initiative aligns with the UAE's 'Year of Community' and Ajman Vision 2030, aiming to support family stability, employee happiness, and environmental goals by reducing commuting emissions. Sheikh Ammar stated that human well-being is central to government success, emphasising that a supportive and flexible work environment leads to higher institutional efficiency and better public service delivery. The Ajman Human Resources Department, in coordination with the General Secretariat of the Executive Council, will oversee implementation and evaluate the initiative's outcomes related to performance, satisfaction, and community impact. This move reflects a growing trend across the UAE towards adopting progressive, employee-focused policies that enhance productivity while supporting broader sustainability and social goals.
Al Etihad
23-06-2025
- Business
- Al Etihad
Ammar bin Humaid approves 'Balanced Summer' initiative for Ajman Government employees
23 June 2025 17:22 AJMAN (ALETIHAD)His Highness Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman and Chairman of Ajman Executive Council, presided over the Council's meeting on Monday at the Emiri Court, during which the Council approved the "Balanced Summer'' initiative for Ajman Government initiative aims to promote work-life balance and enhance the quality of life for employees during the summer, while also encouraging family cohesion, in alignment with the "Year of Community" part of the initiative, all government employees in Ajman will work remotely on Fridays, with 100% remote work in effect from July 1 to August 22, working hours from Monday to Thursday will be reduced from eight hours to seven hours, running from 7:30 am to 2:30 adjustments will be applied while ensuring the uninterrupted delivery of essential services through flexible internal arrangements across government Highness Sheikh Ammar said that the Government of Ajman, under the leadership and guidance of His Highness Sheikh Humaid bin Rashid Al Nuaimi, Supreme Council Member and Ruler of Ajman, places great emphasis on providing a flexible and motivating work environment that takes into account the professional and social needs of Crown Prince of Ajman highlighted that family and social stability for employees is a fundamental pillar of the emirate's development journey, affirming that human well-being remains a permanent priority, as it is the most vital factor in enhancing institutional efficiency and improving the quality of government added, ''Through the 'Balanced Summer' initiative, we aim to promote environmental sustainability by reducing daily commuting emissions, in alignment with the objectives of Ajman Vision 2030 to build a more balanced and sustainable society.'The Human Resources Department- Ajman, incoordination with the General Secretariat of the Executive Council, will oversee the implementation of the initiative, develop flexible organisational models, and submit an evaluation report by the end of September 2025 on its impact on performance, employee satisfaction, and community 'Balanced Summer' initiative reflects the Ajman Government's commitment to employee welfare, by offering a flexible work environment that strikes a healthy balance between personal and professional life, contributing to greater productivity and employee happiness. The Council also discussed other issues on its agenda.
Khaleej Times
23-06-2025
- Politics
- Khaleej Times
Ajman announces remote work on Fridays, cuts weekly office hours for govt employees
The summer working hours will remain in effect throughout the peak heat months aimed to improve the quality of life for government employees Ajman announces remote work system on Fridays and shortened work hours from Monday to Thursday for government employees from July 1 to August 22, 2025. Approved by the Ajman Executive Council under the leadership of Crown Prince Sheikh Ammar bin Humaid Al Nuaimi, the new initiative, 'Our Summer is Balanced' aims to improve the quality of life for government employees during the summer months. Sheikh Ammar emphasised that the initiative reflects the Ajman Government's commitment to creating a flexible, productive, and people-centric work environment, under the guidance of Sheikh Humaid bin Rashid Al Nuaimi, Ruler of Ajman and Member of the Supreme Council. The initiative The summer working model will remain in effect throughout the peak heat months, with further evaluations expected to determine long-term impact and feasibility of similar initiatives in future seasons.
