Dubai – Mubasher: Ajman Bank’s board has proposed the increase of the bank's capital in two phase.
The first phase includes the increase of the paid-up capital within the AED 2.1 billion authorised capital, according to a bourse statement released on Sunday.
The Dubai-listed bank said that the second phase will be implemented by proposing an increase to the authorised capital and the paid-up capital to reach AED 3.5 billion and AED 2.8 billion, respectively.
The proposal will be considered by the bank’s next annual general meeting (AGM), Ajman revealed.
Earlier on Sunday, Ajman Bank posted a 31% year-on-year growth in net profit during the first quarter of 2018, registering AED 34.02 million.
