Ajman Bank in nine months: revenue up 12% to AED 1.35bn, profit before tax AED 352m, bad financing down to 5%
Editorial
Ajman Bank earned AED 1.35 billion of revenue in the first nine months of 2026, up 12%, and AED 352 million of profit before tax, while cutting its non-performing financing ratio to 5%.
Sources: Khaleej Times, WAM and Ajman Bank. Nine months 2025 was up 32% on 2024.
How the year has run
Profit before tax was AED 134 million in the first quarter and AED 263 million in the first half, which leaves about AED 89 million for the third quarter (our calculation, 352 minus 263). First-half profit after tax was AED 246 million.
Revenue grew but profit did not: net revenue rose only 2%, and pre-tax profit for nine months is below the AED 414 million of the same period of 2025, about 15% lower (our calculation). What improved was the quality of the book: the non-performing financing ratio fell by 203 basis points since the start of 2026 and by 273 basis points over a year.
Who runs it
Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, chairs the board and Sheikh Rashid bin Humaid Al Nuaimi is vice chairman. Mustafa Mohammed Saeed Al Khalfawi has been chief executive since 1 September 2023. Gulf Today reported in March 2026 that the annual meeting approved a cash dividend equal to 50% of net profit.
- 2007 Established as the first Islamic bank incorporated in Ajman, per its company profile.
- Feb 2008 Shares listed on the Dubai Financial Market.
- 2009 Begins operating from two branches in Ajman.
- 1 Sep 2023 Mustafa Mohammed Saeed Al Khalfawi becomes CEO.
- 27 Oct 2026 Nine-month 2026 results announced.