Page 60 - AAE PR REPORT - August 2024

World News | UAE: Al Ansari's Net Profit

Totals AED205 Million in H1 2024

Get latest articles and stories on World at LatestLY. Al Ansari Financial Services
PJSC, one of the leading integrated financial services groups in the UAE, today
reported its financial results for the first half of 2024, logging AED205 million in
net profit after tax.

Agency News ANI| Aug 09, 2024 11:12 PM IST

Abu Dhabi [UAE], August 9 (ANI/WAM): Al Ansari Financial Services PJSC, one
of the leading integrated financial services groups in the UAE, today reported
its financial results for the first half of 2024, logging AED205 million in net profit
after tax.
In H1 2024, the group recorded AED136 million in EBITDA (Earnings Before
Interest, Tax, Depreciation, and Amortisation), a decline of 8 percent year-on-
year (YoY).
The Group's money transfer service, Worldwide Cash Express, excelled with a
remarkable 118 percent YoY growth in the number of transactions to third-party
customers and an 81 percent YoY increase in transaction value, reaching
US$110 million.
Meanwhile, customer adoption of Al Ansari's digital channels grew
substantially, with the transaction volume climbing by 24 percent YoY.
This remarkable growth underscores the effectiveness of the Group's
customer-centric digital strategy, demonstrating the platform's ability to
consistently meet and exceed user expectations in terms of convenience and
usability.
Rashed A. Al Ansari, Group CEO of Al Ansari Financial Services, said, "Building
upon the solid foundation established in the first quarter of the year, Al Ansari
Financial Services has continued to demonstrate resilience and strategic
execution. The positive impact of our diversified business model and customer-

https://www.latestly.com/agency-news/world-news-uae-al-ansaris-net-profit-totals-aed205-
million-in-h1-2024-6178257.html#google_vignette