Page 153 - AAE PR REPORT - June 2024

5/13/24, 10:28 AM Al Ansari Financial Services reports net profit of AED 98.7 million in Q1 2024 | Emirates News Agency
Digital channels are thriving, with a 25% YoY transaction increase, improving customer experience and reducing costs. Branch expansion continues strategically,
reaching 259 locations by the end of the period. Our operational efficiency remains high, with a steady EBITDA margin of near 45% even in a rising cost environment.
We expect healthy growth in remittance operating income, especially as the fee increase comes into effect in the second quarter and the challenge of the parallel market
recedes. Our confidence is bolstered by a positive macroeconomic outlook in the UAE driven by pro-growth government initiatives. We are firmly committed to our
strategic growth agenda and remain confident in our ability to unlock greater shareholder value.”

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