Page 154 - AAE PR REPORT - June 2024

5/13/24, 10:28 AM UAE: Al Ansari Financial Services reports net profit of $26mln in Q1 2024

Clocks showing the time in different cities of the world are pictured at the stock market, in Dubai, United Arab Emirates, November 5, 2020.
Image used for illustrative purpose
Reuters/Abdel Hadi Ramahi
EARNINGS
UAE: Al Ansari Financial Services reports net profit

of $26mln in Q1 2024

Bank notes have witnessed a drop in volumes amounting to 9%

Tariq Al Fahaam, WAM (Emirates News Agency)

May 10, 2024

DUBAI – Al Ansari Financial Services PJSC (DFM: ALANSARI), (the Group), today reported its financial
results for the first quarter of 2024 (Q1’24).

According to First Quarter 2024 Financial Results, operating Income saw a 4.3% decline due to the
pressure from the parallel market within major remittance corridors and the uncertainty prevailing
macroeconomic conditions in the region.

Net profit after tax for the quarter declined 26% YoY to AED 98.7 million mainly driven by the expansion
in the branch network and the introduction of Corporate Tax.
Total transactions increased by 5.1% YoY.

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