Page 39 - AAE PR REPORT - August 2024

8/12/24, 10:42 AM Al Ansari Achieves AED 205M Net Profit for H1 2024

Al Ansari Achieves AED 205M Net Profit

for H1 2024

AUGUST 10, 2024

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Al Ansari Financial Services PJSC, a prominent integrated financial services group in the UAE, has
announced its financial performance for the first half of 2024, reporting a net profit after tax of
AED 205M.
In the first half of 2024, the group achieved AED 136M in EBITDA (Earnings Before Interest, Tax,
Depreciation, and Amortisation), marking an 8 per cent decrease compared to the previous year.
The group’s money transfer service, Worldwide Cash Express, performed exceptionally well, with
transactions to third-party customers increasing by 118 per cent year-on-year and transaction
value rising by 81 per cent to $110M.
Additionally, the uptake of Al Ansari’s digital channels saw significant growth, with transaction
volume increasing by 24 per cent year-on-year. This notable growth highlights the success of
the group’s customer-focused digital strategy, reflecting the platform’s ability to consistently
meet and surpass user expectations for convenience and functionality.
Rashed A. Al Ansari, Group CEO of Al Ansari Financial Services, commented, “Building on the
strong foundation laid in the first quarter of the year, Al Ansari Financial Services has continued
to show resilience and strategic execution. The positive results underscore the benefits of our
diversified business model and customer-centric approach. Moreover, we anticipate continued
positive impacts from stabilised market conditions and the successful implementation of

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