gulfnews : Ajman Bank profit up 75%

Ajman Bank on Thursday reported a net profit of Dh7 million for 2011, up 75 per cent from the Dh4 million profit reported in 2010.
The bank achieved strong growth in income from its core activities, with total income increasing 27 per cent to Dh246.2 million from Dh194.4 million.
The growth in total income was fuelled by an increase of approximately 73 per cent in income from Islamic financing and a doubling of income from investment securities. The bank's net income for 2011 was Dh179.9 million, up 14.5 per cent from Dh157 million the previous year.

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