Al Ansari Financial Services Reports AED205 Million Net Profit for H1 2024

First half of 2024 results: Al Ansari Financial Services group posted an NPAT of AED 205 million after tax, to be a leading financial services group in the UAE. The group’s EBITDA decreased by 8 percent YoY to AED136 million; however, it displayed robustness and effective management of its business divisions.

Yet, one of the key highlights that was noteworthy at Al Ansari was the company’s Worldwide Cash Express money transfer segment, which witnessed a stupendous YoY jump in particular in the third party segment with percentages standing at 118. The transactional value was significantly higher during the year under consideration Too by increasing YoY by 81 percent and reaching the level of US$ 110 million because people continue to seek fast and secure means to send money internationally.

Besides this, they identified a significant increase in the use of Innovative Customer Solutions among the clientele of Al Ansari. In total, the amount of transactions with the help of these channels increased by 24 percent YoY, which proved the efficiency of the customer-oriented digital approach of the group. Such digitalisation shows that Al Ansari is capable of surpassing the customers’ expectations by providing them with better usability by the platforms.

The current performance has been on the positive side and according to Rashed A. Al Ansari the group CEO of Al Ansari Financial Services, the year has been quite effective. Taking advantage of the good start made at the first quarter of year 2009, Al Ansari Financial Services is continuously proving its dynamism and intelligence in strategic management. ‘The strategies that speak highly of diversified business and customer focus have boosted up the company operations and growth as depicted by the result,’ he said.

Said Rashed A. Al Ansari in his outlook on the future: In this regard, it can be seen that the group is well-placed for continued advancement. The favourable movements in parallel market from now on and the proper implementations of higher fees for remittances are also thought to add to the group’s recoveries in the later months. Altogether, in connection with strong business strategy of the group, these factors are expected to drive further shareholder value.