Ajman Bank is reportedly seeking a $300M sukuk issuance later this year.
Mustafa Al-Khalfawi, Ajman’s CEO, spoke to CNBC Arabia about the single-tranche sukuk.
Al-Khalfawi told the Arabic news channel that the issuance will be a single-tranche sukuk in the first half of 2026.Â
Net Profit Growth
Last week, the Dubai-listed bank reported a net profit of AED 500M for 2025: a 25% YoY increase.
Total revenues also surged by 10% owing to growth across key business segments, such as property. Ajman Bank’s real estate portfolio is worth AED 12B, with Skyrise Properties, achieving profitability within two years of operations.
Customer financing rose by 39% to AED 21B while customer deposits grew by 40% to AED 27B.
2026 Plans
Al-Khalfawi is planning to build on the bank’s financial momentum this year.
Operating revenues will be better this year, with a focus on the retail and SME sector, Al Khalfawi told CNBC Arabia.
The government of Ajman is the largest shareholder of the bank, owning 33.1% of the bank. Ajman is the smallest of the seven emirates in the UAE.
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