Page 48 - AAE PR REPORT - MAY 2025

5/15/25, 9:35 AM Al Ansari posts 10% net profit surge in first quarter | Khaleej Times
“The BFC acquisition and digital wallet launch are pivotal for our regional growth,”
noted Mohammad Bitar, Deputy Group CEO. “These initiatives enhance our scale
and customer reach.” Segment performance was strong across the board.

Remittance operating income grew 4.0 per cent to Dh171 million, navigating
fintech competition and geopolitical pressures. Banknote operating income rose
7.0 per cent to Dh93 million, bolstered by strategic partnerships, prepaid card
demand, and UAE tourism growth. WPS and other services saw a 26 per cent
increase to Dh30 million, driven by infrastructure projects and employer
compliance needs.

Rashed A. Al Ansari highlighted the company’s resilience: “Despite geopolitical
tensions, our disciplined execution and customer focus delivered solid growth.
Our recent acquisition and AI integration efforts position us for sustained
success.” The company’s strategic expansion doubled its operational countries,
reinforcing its market leadership.
Al Ansari is poised to capitalise on the GCC’s economic momentum, investing in
technology and customer engagement to drive sustainable growth. “Our focus on
operational excellence and innovation will unlock synergies and reinforce our
leadership,” Bitar said.

Issac John
Issac John
issacjohn@khaleejtimes.com
issacjohn@khaleejtimes.com

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