Page 28 - AAE PR REPORT - November 2024

impact of corporate tax.
In a positive development, digital transaction volumes saw a notable increase, rising by 24% YoY.

Strategic Expansion
Al Ansari Financial Services has strengthened its presence in the UAE market, with a total of 263
branches by the end of Q3 2024, an increase of 15 branches compared to the same period last year.
The company also announced plans to acquire PFC Group Holdings, with the transaction expected
to be completed in Q1 2025.

Outlook
Rashed Ali Al Ansari, CEO of the Group, stated that the company is facing challenges due to
geopolitical tensions and rising costs but remains optimistic with overall progress. He added, “We
continue to closely monitor the market and are focused on enhancing our competitive position,
especially with the entry of tech companies into the sector.”

https://www.businessnewse.com/2024/11/09/al-ansari-financial-services-strong-performance-
despite-economic-and-geopolitical-challenges/#google_vignette