Dubai – Mubasher: Ajman Bank achieved net profits after tax worth AED 129.56 million in the first quarter (Q1) of 2026, marking a decrease from AED 134.67 million in Q1-25.
The bank posted net profit before tax of AED 134.15 million in Q1-26, compared to AED 145.09 million in Q1-25, according to the income statements.
Total revenue rose by 22% to AED 443.04 million in January-March 2026 from AED 363.94 million in Q1-25 reflecting growth across the bank’s core financing, treasury and fee-generating businesses.
Islamic customer deposits surged to AED 24.08 billion as of 31 March 2026, compared to AED 23.74 billion at the end of 2025.
Net revenue increased 12% to AED 221.82 million, while non-funded income reached AED 63.15 million, representing 28% of net revenue, pointing to continued progress in the bank’s effort to build a more diversified income base beyond financing margin.
Moreover, the total assets of the bank declined to AED 32.82 billion in Q1-26 when compared with AED 32.86 billion as of 31 December 2025.
Crown Prince of Ajman, Chairman of the Executive Council and Chairman of Ajman Bank, Sheikh Ammar bin Humaid Al Nuaimi, said: “Ajman Bank’s performance in Q1 confirms that we are building something of lasting value – an institution anchored in the Emirate of Ajman, grounded in Sharia principles, and growing with the confidence that comes from consistent execution.”
Al Nuaimi stressed: “Revenue growth of 22% is a clear signal that the business is moving in the right direction, and that our customers across retail, corporate, and government are choosing to deepen their relationship with the bank.”
Ajman Bank said its customer financing grew 9% to approximately AED 23.2 billion, driven by demand across the bank’s key lending segments, adding that total deposits reached AED 28 billion.
Asset quality continued to improve, with the non-performing financing ratio declining to 6.5%, further down by 47 basis points (bps) quarter-on-quarter (QoQ) basis, reflecting strengthened risk management and portfolio quality.
The CEO of Jman Bank, Mustafa Al Khalfawi, said: “The bank’s 22% revenue growth reflects the strength and sustainability of Ajman Bank’s performance. This is supported by disciplined asset growth, prudent funding cost management, and the development of diversified income streams built on strong foundations, enhancing the resilience of our business model, alongside continued cost discipline.”
Al Khalfawi added: “With improving returns, we enter the remainder of 2026 from a position of financial strength and will continue to build on this momentum with confidence and discipline.”
In Q1-26, the bank’s customer base grew by 7%, with new customer acquisition increasing by 36% compared to the same period in 2025. Across digital and AI-driven services, the bank continued to enhance the efficiency of its platforms, reflected in increased usage of its mobile banking application and the generative AI-powered assistant Hamad.
On the corporate banking side, the bank is preparing to launch a fully integrated digital platform and mobile application, Ajman Bank One Corp, in Q2-26, further strengthening its digital capabilities and supporting business growth.
Overall, these results reflect a resilient and well-balanced performance, underpinned by measured growth, improving returns, a strong financial position, and increasing diversification of income streams, reinforcing the bank’s ability to sustain stable performance amid evolving economic conditions.
In 2025, Ajman Bank registered net profits of AED 500.03 million while the total revenue hit AED 1.70 billion.
