The year 2025 marked a significant turning point for Ajman Bank, achieving its strongest financial results to date. The bank reported a pre-tax net profit of 548 million dirhams, reflecting a 25% annual growth, while total revenues rose to 1.7 billion dirhams and net revenues increased to 899 million dirhams, growing by 22%. Assets surged by 44%, reaching 32.9 billion dirhams, driven by a 39% increase in financing and a 40% rise in deposits, amounting to 26.6 billion dirhams, bolstered by a robust 28% growth in current and savings accounts. These results underscore the effectiveness of execution, improved revenue quality, and operational discipline.
Mustafa Al-Khalafawi, the CEO of Ajman Bank, stated in an interview that these figures reflect a disciplined implementation of the bank’s strategy, enhanced revenue quality, and operational efficiency. He noted that competition in the banking sector is not determined just by size but also by clarity of the model and execution capability, operating within a framework based on four pillars: service, speed, specialization, and simplicity. Here is the dialogue:
How do you assess Ajman Bank’s performance over the past year compared to the banking sector in the country?
The year 2025 was pivotal for Ajman Bank, as we recorded our strongest financial performance, with a pre-tax net profit of 548 million dirhams, signifying a 25% year-on-year growth. Total revenues increased to 1.7 billion dirhams, while net revenues reached 899 million dirhams, growing by 22%. Assets grew by 44%, totaling 32.9 billion dirhams. Customer financing rose by 39%, while customer deposits were up by 40% to reach 26.6 billion dirhams, supported by a 28% increase in current and savings account balances. These results reflect a disciplined execution of strategy, improved revenue quality, and enhanced operational efficiency.
How would you evaluate the current quality of your financing portfolio? Have delinquency rates increased?
We have observed a clear improvement in asset quality throughout 2025, with non-performing loans decreasing to 7%, indicating better portfolio quality and a disciplined risk management approach.
We utilize a multi-layered risk management model supported by advanced digital analytics, enabling proactive risk monitoring and maintaining a careful balance between growth and credit discipline.
Ajman Bank is considered a medium-sized Islamic bank; how can it compete with larger banks?
Competition in the banking sector is determined not only by size but by the clarity of the model and execution capabilities. We function within an operational framework that revolves around four key pillars: service, speed, specialization, and simplicity. This framework has enabled us to enhance operational efficiency, reduce the cost-to-income ratio to 45.9%, and increase the return on equity to 15.2%. Today’s competitive advantage lies in decision-making speed, discipline, and quality execution.
You have allocated 50% of your 2026 budget for investment in technology and artificial intelligence. Will this lead to job reductions?
Allocating nearly 50% of the 2026 budget toward technology reflects a strategic conviction that digital infrastructure has become a cornerstone of the banking business model. We view artificial intelligence not as a replacement for personnel, but as a tool to enhance efficiency, improve decision quality, and expedite processes. The human element remains central to banking relationships, while technology contributes to better productivity and operational discipline.
How much has the bank invested in digital transformation over the last few years?
In 2025, we completed upgrading our core banking system, launched the Ajman Bank One app, expanded our digital service offerings, and inaugurated our main branch for new digital services. This reflects the accelerated progress in the bank’s digital transformation and improves customer experience with faster, simpler, and more efficient services.
Our customer base grew by 36%, and operational efficiency has significantly improved. The digital transformation has directly impacted growth and performance quality, not just customer experience.
Does Ajman Bank utilize artificial intelligence in risk management or customer service?
Yes. We employ advanced analytical tools for risk assessment, fraud detection, and data analysis, enhancing decision accuracy and response speed.
Modern technologies have contributed to improved governance and compliance within clear regulatory frameworks.
What were the main growth drivers that supported the bank’s strong results in 2025?
The remarkable performance resulted from an integrated execution on three levels:
Firstly, strong profitable growth, with pre-tax net profit reaching 548 million dirhams, a 25% increase, while non-funded income surged by 37% to 262 million dirhams, enhancing revenue quality and diversification.
Secondly, financial and operational discipline reflected in the reduction of the cost-to-income ratio to 45.9% and improved asset quality.
Thirdly, market confidence was bolstered by the issuance of sukuk worth 500 million dollars, which was oversubscribed 5.4 times, alongside the execution of over 40 sustainable financing deals, as part of our commitment to mobilizing 4 billion dirhams by 2030. The growth was balanced, combining profitability, discipline, and sustainability.
What is the bank’s strategy for the next three years?
We focus on deepening digital transformation, enhancing operational efficiency, and achieving measured growth in core sectors.
Additionally, we continue to expand in sustainable financing, strengthen our capital base, and solidify institutional partnerships.
What percentage of banking operations is currently conducted through digital channels?
Digital channels are experiencing rapid growth and now represent an increasing share of daily operations, particularly in the retail sector. Digital transformation has improved execution speed and operational efficiency.
What are the notable new financing products launched by the bank?
We have introduced fully digital financing solutions in retail, enhanced treasury services, and expanded our sustainable financing portfolio in line with our environmental commitments.
How does the bank manage interest rate risks amid global fluctuations?
We adopt a balanced approach in managing assets and liabilities, ensuring precise alignment between funding sources and uses. Customer deposits reached 26.6 billion dirhams, while shareholder equity stood at 3.5 billion dirhams, providing a stable funding base that supports stability and growth.
How does the bank support the small and medium enterprises (SME) sector?
We offer flexible financing solutions and simplified digital services tailored to the unique nature of this sector. SMEs represent a vital foundation for economic growth, and supporting them is part of our corporate commitment.
Have you faced any global challenges, such as inflation or market disturbances?
Despite global fluctuations, the bank has maintained robust performance and high profitability, thanks to diversifying income sources, maintaining credit discipline, and having a stable funding base.
Does the Islamic banking model need to be developed?
Islamic banking has strong foundations built on discipline and risk-sharing principles. Development occurs through leveraging technology, fostering innovation, and integrating sustainability principles while maintaining core compliance.
Could digital banks and fintech firms pose a threat?
We view fintech as a partner in developing the ecosystem. The competitive advantage of banks lies in governance, trust, solvency, and the ability to manage risks within clear regulatory frameworks.
What do you envision for the future of banking over the next decade?
The future will be characterized by digital execution, institutional governance, and human relationships with customers. Institutions that integrate advanced technology with corporate discipline and trust will be best positioned for sustainable long-term growth.