Ajman Bank impairment charges more than double

30/01/2017 11:24 AST

Ajman Bank reported profits for 2016 up 2.8 per cent at AED 125.5 million.

Net operating income rose 19.8 per cent to AED 505.3 million. However, the bank also saw a jump in impairment charges on finance, rising from AED 60.9 million in 2015 to AED 132.5 million for 2016.

The Shari'ah-compliant bank saw earnings per share ease down from AED 0.098 to AED 0.085. Total assets rose 11.7 per cent to AED 16 billion while total liabilities were up 6.8 per cent at AED 13.99 billion.


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