Page 24 - AAE PR REPORT - FEBRUARY 2025

Commenting on the results, Mohamed A. Al Ansari, Chairman of Al Ansari Financial Services,
said:
“As Chairman, I am pleased to share that our performance this period reflects the strength of our
strategic vision, operational resilience, and commitment to sustainable growth. Despite a challenging
macroeconomic environment, we have remained focused on executing our strategy, delivering solid
financial results, and upholding our commitment to all stakeholders. Our disciplined approach,
underpinned by innovation, operational excellence, and prudent risk management, continues to
position us for long-term success.

We have made significant progress in delivering on all our strategic pillars, ensuring sustainable
growth, operational efficiency, and market leadership. Our ability to adapt to evolving economic
conditions while maintaining a strong focus on customer experience, technological innovation, and
regulatory compliance has been instrumental in driving our success.

With the UAE’s GDP projected to grow by 5% in 2025 and global remittances expected to exceed
USD 1 trillion by 2028, we see significant opportunities to further strengthen our market position and
enhance our service offerings. Our continued focus on the security and safety of every transaction
remains at the core of our operations, ensuring trust and reliability for our customers and partners.

In light of the Group’s performance and on behalf of the Board of Directors, I am happy to propose a
second dividend payment of AED 157.5 million, subject to shareholder approval, reinforcing our
commitment to delivering sustainable returns. With a clear strategic direction and a dedicated
team, we remain confident in our ability to navigate challenges, capitalise on emerging trends,
and drive long-term value for all our stakeholders.”

Rashed A. Al Ansari, Group CEO of Al Financial Services, added:

“Our performance in 2024 has achieved record-breaking milestones, with transaction volumes
reaching 50 million transactions. Despite navigating a challenging environment marked by economic
and geopolitical pressures, intense fintech competition, rising corporate taxes, and increased
operational costs, we concluded the year with a net profit of AED 406 million and an EBITDA margin
of 44.4%. These results affirm the robustness of our strategy and vision.

We have been working closely with regulatory authorities to address industry challenges, particularly
the disruptive practices of certain fintechs that undermine fair competition and create an uneven
playing field for all industry participants. Our proactive stance in this area underscores our
commitment to fostering a balanced and equitable market environment.

Aligned with our long-term six-pillar growth strategy, we announced the acquisition of BFC Group
Holdings W.L.L. This strategic acquisition positions us as the leading provider of foreign exchange
and remittance services across the Gulf Region. Additionally, we introduced innovative products and
services such as 'Send now, pay later,' which are set to transform the industry, enhance financial
inclusivity, and deliver significant value to our customers.

Looking ahead, we are committed to initiatives that increase operational efficiency and drive digital
transformation. Our investments in emerging technologies, including artificial intelligence, aim to
boost profitability at the branch level, while our focus on expense management, synergy realisation,
and economies of scale will help mitigate rising costs. Furthermore, we remain dedicated to improving
our employee engagement and upskilling our staff to support our cost optimisation strategy.
FY/Q4 RESULTS 9