Dubai-Mubasher: Ajman Bank posted a 16% rise year-on-year in its first-quarter profits, according to a bourse statement.
Profits reached AED 30 million ($8.17 million) in the first quarter of 2016, compared to AED 25.86 million ($7.04 million) in the same quarter of 2015.
The Q1 profits were driven up by operating income which increased 14% year-on-year to AED 113.1 million ($30.79 million), up from AED 99 million ($26.95 million).
Meanwhile, deposits declined to AED 10.55 billion (2.87 billion), down from AED 11 billion ($2.99 billion).
