• Ajman Bank has reported a record annual profit before tax of AED 440 million ($119.8 million) for 2024, marking a remarkable 213% increase from a net loss of AED 390 million in 2023. This turnaround is attributed to a total operating income of AED 1.5 billion and a net operating income of AED 736 million. The bank's improved financial metrics include a return on equity of 12.9% and a return on assets of 1.8%, indicating strong operational efficiency and profitability. The bank's capital adequacy ratio also increased to 19.1%, well above regulatory requirements, showcasing its robust financial health.

• The UAE banking sector is experiencing significant growth, with liquid assets surpassing $218 billion and a 3.9% increase in deposits driven by time deposits. Ajman Bank's strategic focus on diversifying its portfolio and reducing non-performing loans has contributed to its success. The bank's management emphasized its commitment to sustainable growth and innovation, which aligns with broader industry trends of digital transformation and customer-centric solutions. As the UAE economy continues to strengthen, Ajman Bank is well-positioned to capitalize on emerging opportunities in the Islamic banking sector.