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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.
United Arab Emirates’ Ajman Bank obtained a $200 million syndicated Murabaha financing which was coordinated by Emirates Islamic, it said on Monday.
Al Hilal Bank, Dubai Islamic Bank and S
Ajman Bank has signed a financing agreement with Saudi German Hospitals Group for the construction project for the development of Saudi German Hospital – Ajman (SGH-Ajman) with 150- bed facility in t
Ajman Bank reported profits for 2016 up 2.8 per cent at AED 125.5 million.
Net operating income rose 19.8 per cent to AED 505.3 million. However, the bank also saw a jump in impairment cha
Commercial start-up of new cement mills at Arabian Cement Co.’s Rabigh plant has been delayed to 3Q18. The mills had been expected to go into operation in 4Q17 but construction work is still ongoing.
National Bank of Kuwait (NBK) has been named the Best Bank in Kuwait 2017 by the international financial publication Global Finance. The award was presented to George Richani, General Manager – Inter
Riyad Bank, Saudi Arabia's fourth-largest bank by assets, on Wednesday reported a 47.7 percent rise in third-quarter net profit, beating analysts' forecasts as income from investments and fees and co
Saudi Aramco participated as the diamond sponsor in the 5th Water Arabia Conference and Exhibition under the theme “Sustaining water resources through innovative and reliable water and wastewater tre
Four Seasons Hotels and Resorts, the world's leading luxury hospitality company, and Jabal Omar Development Company (JODC), a leading developer in the Middle East, announce plans for a new Four Seas