Ajman Bank approves distribution of profits in form of bonus shares

AJMAN: The General Assembly of Ajman Bank, chaired by H.H. Sheikh Rashid bin Humaid Al Nuaimi, Vice Chairman, approved the report of the Board of Directors and the report of the external auditor on the bank’s activities and financial position for the financial year on December 31, 2022, and the proposal of the Board of Directors regarding the distribution of profits in the form of bonus shares at a rate of 3.5% of the bank’s current paid-up capital, by issuing 73,500,000 (seventy-three million five hundred thousand) bonus shares.

During the General Assembly, several resolutions were discussed, including the approval of the bank’s balance sheet and profit and loss account for the financial year that ended on 31-12-2022.

Additionally, the members of the Board of Directors and external auditors were discharged from liability, the Board of Directors’ remuneration was approved, and the report of the Sharia Supervisory Board was heard and accepted. The appointment of members of the Shari’a Supervisory Board and auditors of Ajman Bank for the financial year 2023 was also confirmed.

H.H. Sheikh Rashid bin Humaid Al Nuaimi lauded the continuous successes achieved by Ajman Bank, a leading financial institution in the banking sector. He acknowledged the level of progress and competitiveness that the bank has achieved, reaching new levels of growth and banking excellence over the past years.

His Highness emphasised that the previous financial year was distinguished in all aspects. In this context, he congratulated all the leaders and employees of the bank for their outstanding efforts during the year and appreciated the confidence of Ajman Bank’s customers.

He attributed the bank’s success to the continuous support of its shareholders and the directives of His Highness Sheikh Ammar bin Humaid Al Nuaimi, Chairman of the Board of Directors. H.H. Sheikh Rashid bin Humaid Al Nuaimi concluded by stating that the bank continues to achieve success at all levels.

Mohamed Amiri, the Chief Executive Officer of Ajman Bank, expressed gratitude towards their Highnesses and Excellencies, the members of the Board, and attributed the bank’s achievements to the General Assembly’s confidence and the continuous efforts towards providing exceptional banking experiences to its customers.

He extended his congratulations to all the bank’s employees for their hard work and dedication in providing innovative banking solutions.

“At Ajman Bank, we always strive to provide the very best products and services, adhering to the highest international banking standards that cater to the needs of our customers and their financial objectives,” he said.

Mr. Amiri emphasised that exploring opportunities and solutions to develop Islamic banking operations for individuals and institutions is crucial to the bank’s success.

It is noteworthy that in 2022, Ajman Bank experienced a significant surge in business at multiple levels. Several financing and partnership agreements were signed, which is a testament to Ajman Bank’s success and contribution to development projects in the United Arab Emirates.

This success is reflected in the bank’s improved banking performance levels and investment returns, as well as the high rates of providing banking financial services. This has been possible due to the bank’s flexibility in developing distinguished packages of banking products and providing competitive advantages that cater to a wider range of customers and institutions, thereby enhancing the bank’s financial and economic performance.