Ajman Bank inaugurates new branch in Ajman

The Branch was inaugurated on 31st May by HE Ali Al Hamrani, Board Member of Ajman Bank, in a special ceremony attended by HE Dr. Ali Al Nuaimi, Board Member and Managing Director of Ajman Bank and other members of the Bank's top Executive team.

Mohamed Amiri, the Bank's Acting Chief Executive Officer, commented on the openings: "The opening of this new branch marks a continuation of the Bank's comprehensive expansion policy. This is in line with achieving our ambition of enhancing our reach and facilitating accessibility for our clients to our services and products. It also emphasizes the bank's continuous determination to support the rapid growth and development of the Emirate of Ajman and the UAE."

He also continued: "We see extraordinary growth dynamics in the country and the establishment of this branch, along with our recently opened branch in Al Ain, represents a key element in executing our strategy to grow the business and expand our footprint to serve at our customers' convenience."

Salem Al Shamsi, Ajman Bank's Acting Head of Retail, said: "We're very pleased to be opening our new branch in China Mall, which constitutes an ideal location for our customers, in line with the Bank's long-term strategy to serve our customers at most convenient locations. The branch also showcases our commitment to consistently deliver on our promise of being the right partner to our customers by providing more branches and channels to access the Islamic products and services we offer."

The new branch will offer Ajman Bank's complete spectrum of Islamic banking services, which have been designed to meet the professional requirements and lifestyle needs of nationals and residents across the UAE. Presenting modern state-of-the art design coupled with the latest technology to offer excellent facilities and enrich the high quality of services the Bank aims to present to its customers, the branch complements the Bank's existing network, bringing it to 12 branches in total.

It is worth mentioning that Ajman Bank had recently won several accolades including 'Best Islamic Bank' on the Arab Achievement Awards, 'Best Customer Loyalty Programme' by the Banker Middle East, 'Best Syndicated Deal' by Islamic Finance News (IFN), 'Best Branding' by Islamic Banking and Finance, 'Best Website Structure' by the UAE Web Awards, 'Best Home Finance Product 2011' by the Banker Middle East, and "Best Small Bank" at the 2011 Bank Benchmark Index Awards, among others.

In a challenging financial environment, Ajman Bank maintained earnings momentum recording net profit growth of 75% for the year ended 31 December 2011, and a breakthrough performance for the first quarter of the current year with a 154% increase in net profit recorded by the end of March 2012.