Ajman Bank reports overall loss of AED 16.18m


Ajman Bank - AJMANBANK
1.16 0.00 0.00%
07/02/2014 08:57 AST

Ajman Bank reported a total comprehensive loss of AED 16.18 million for 2013, against total comprehensive income of AED 56.8 million a year earlier. Profits from banking activities were down 68 per cent to AED 10,599,000 and earnings per share down by more than two-thirds to AED 0.011 from AED 0.034.

The Shari’ah-compliant bank reported a 29 per cent rise in total assets to AED 7.09 billion while total liabilities rose by 36 per cent to AED 6.05 billion, including a 26 per cent increase in customers’ deposits to AED 5.48 billion.

Expenses were up 8.9 per cent, fuelled by a 17 per cent rise in staff costs.

Ajman Bank reported impairment charges for Islamic financing and investment products up 107 per cent to AED 62.7 million. Individually impaired investment in Islamic financing and investment products amounted to AED 96.1 million at end-December 2013, against AED 82.1 million a year earlier.

The bank showed a loss on the sale of investment securities of AED 26.1 million, compared with a gain of AED 38.3 million in 2012.

CPI Financial
Ajman Bank - AJMANBANK
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
GFH 0.5 76,000
EMAAR 8.32 5,085,560
QNBK 134 121,333
DSI 0.39 25,734,648
OOREDOO 1165 1,658
DANA 0.64 11,071,611
SABIC 98.48 2,005,081
Recent News

Alba Line 6 project achieves 2m man-hours without LTI
Aluminium Bahrain (Alba), the Bahrain-based international aluminium smelter, has reached an outstanding safety milestone with the Line 6 Expansion Project achieving 2,080,693 safe man-hours without l

Major Saudi-China investment forum set in Jeddah
Saudi Arabia's Ministry of Energy, Industry and Mineral Resources will hold a Saudi-Chinese investment forum titled "Belt and Road Initiative and Vision 2030, a Joint Vision for Cooperation and Prosp

Bahrain medical insurance grows 19pc in 2016
Bahrain’s medical insurance led the sector growth at 19 per cent in 2016 reaching BD62.11 million ($163 million) from BD52.20 million in 2015, representing almost 23 per cent of the total premiums du

GCC corporate earnings to remain stable in 2017, report says
Corporate earnings of GCC-listed firms look stable this year, but political uncertainties and weaker economic growth in the backdrop of low oil prices have made it difficult to be bullish about the m

Saudi Arabia on track to diversify economy
The road to change is never easy. Though Saudi Arabia has hard work ahead, it has embarked on new initiatives and continues to widen the scope of existing plans to transform the kingdom’s economy awa

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?