Latest news with #Dh21
The National
05-05-2025
- Business
- The National
Dubai Holding to list its residential Reit on DFM
Dubai Holding, a diversified global investment company, is listing its Dubai Residential Reit, a sharia compliant income generating real estate investment trust on the Dubai bourse, amid a continued boom in the emirate's property market. Dham Reit Management, a wholly owned subsidiary of Dubai Holding, is offering 1.625 billion units to investors in an initial public offering on the Dubai Financial Market, the company said in a statement on Monday. The IPO subscription period is set to run from May 13 to May 20, with the Reit expected to begin trading on the bourse around May 28. 'The decision to launch the IPO of Dubai Residential Reit marks a natural evolution in our story, offering investors a unique opportunity to participate in the GCC's largest and first pure-play listed residential leasing-focused Reit,' Malek Al Malek, group chief executive of Dubai Holding Asset Management and chairman of the investment committee of Dham Reit Management, said. 'With a diversified portfolio valued at over Dh21 billion, this milestone enables us to expand our impact, deliver sustainable unit holder returns, and continue shaping the future of urban living in Dubai.'
Khaleej Times
20-04-2025
- Business
- Khaleej Times
Ajman Bank posts Dh145 Million profit before tax in Q1 2025, reflecting 24% growth
Ajman Bank has posted a profit before tax of Dh145 million in Q1 2025, reflecting a 24 per cent increase. The bank reported the net operating income of Dh199 million, up by 2 per cent for Q1 2025, reflecting continued strength in core business performance with continued focus on strong recoveries, cost rationalization, increasing efficiencies through digitization and automation of IT infrastructures. These results are underpinned by a robust balance sheet growth, with total assets reaching Dh25 billion (up by 7 per cent), customer deposits rising to Dh21 billion (up by 8 per cent), and total shareholder equity standing at Dh3.1 billion (as compared to 2024 year end). The bank's capital position and asset quality continue to demonstrate solid improvement year-on-year as well as on a sequential quarterly basis. The capital adequacy ratio (CAR) stood at 18.2 per cent with Tier 1 capital at 17.0 per cent. Return on shareholder equity (ROE) was reported at 17.4 per cent (up by 161 bps), while return on assets (ROA) stood at 2.3 per cent (up by 49 bps). The non-performing loan (NPL) ratio improved to 9.7 per cent (from 9.9 per cent as of 2024 year end). Sheikh Ammar bin Humaid Al Nuaimi, Crown Prince of Ajman, Chairman of Ajman Bank, said, 'The progress of Ajman Bank reflects the strength of our vision for Ajman's future and the pivotal role financial institutions play in shaping resilient and inclusive economies. As the banking sector continues to evolve, Ajman Bank stands at the forefront—guided by sound governance, national values, and a commitment to responsible growth. This achievement is not only a reflection of performance, but of purpose. I commend the Board, management, and every member of our team whose dedication and professionalism continue to drive our journey forward and contribute to the broader success of the United Arab Emirates.' Mustafa Al Khalfawi, CEO of Ajman Bank, stated, 'Ajman Bank's Q1 2025 results reflect the strength of our ongoing transformation and our ability to deliver consistent, value-driven performance. We remain focused on creating long-term value for our shareholders while continuing to invest in innovation, human capital, and customer-centric solutions. Our commitment to speed, service, and specialization continues to shape a bank where customer experience, innovation, and impact are at the core of everything we do. I am deeply grateful to our Board of Directors, our exceptional team, and our valued customers for their continued trust and loyalty. We are also proud to contribute to the growth of the resilient and dynamic UAE economy, which continues to offer a strong foundation for sustainable progress. Together, we are shaping an institution that is agile, responsible, and fully aligned with the future of Islamic finance.'
