Ajman Bank turned to the black in 2024, posting a net income of AED 400.7 mn, reversing a net loss of AED 390.4 mn in 2023, according to the bank’s financial statements (pdf). The lender’s operating income declined by 3.8% y-o-y to AED 1.5 bn during the same period.

This annual performance was driven by the bank’s efforts to remediate distressed assets, CEO Mustafa Al Khalfawi said, according to its earnings release (pdf).

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