Al Ansari posts record income in first half of 2025

14/08/2025 04:25 AST

Al Ansari Financial Services, the largest non-banking financial institution and services provider in the GCC, has reported record results for the first half of 2025, with operating income rising 13 per cent year-on-year to Dh638 million.

The growth was driven by the consolidation of the recently acquired BFC Group results from the second quarter and strong performance across most business lines, underscoring the group's market leadership and resilience despite geopolitical headwinds, the group said in a statement.

Ebitda climbed 11 per cent to Dh287 million, maintaining a 45 per cent margin. Net profit after tax increased 3 per cent to Dh212 million, reflecting higher operating income offset by finance costs related to the shareholder loan for the BFC acquisition. Transaction volumes rose 10 per cent to 28 million, with outward remittance values up 12 per cent and banknotes transactions surging 105 per cent. Wage Protection System salary disbursals grew 25 per cent, while digital channels recorded a 30 per cent rise in transaction numbers, accounting for 23 per cent of total outward remittances.

The group continued its expansion strategy, increasing its physical branch network to 439, including 274 Al Ansari Exchange branches in the UAE, 15 net new openings since H1 2024, and 165 branches added through the BFC acquisition across Bahrain, Kuwait, and India. The acquisition of Al Ansari Exchange in Kuwait is expected to be completed by the end of the third quarter, subject to regulatory approvals, while the launch of the Al Ansari Digital Wallet is set for Q3 2025.

CEO Rashed A. Al Ansari said the strong results build on the positive momentum of the first quarter, highlighting the integration of BFC as a milestone in the group's growth strategy. "Despite ongoing geopolitical challenges and fierce competition, we achieved solid growth across our business segments through disciplined execution and a focus on customer experience."

Al Ansari said the results reflect the strength of our business model, the trust of our customers, and our commitment to delivering accessible, technology-driven financial solutions. He added that the rise in digital transactions underscores the group's innovation drive, while early adoption of AI in its systems has delivered results beyond expectations.

Deputy CEO Mohammad Bitar said the period was defined by robust operational execution and preparation for future growth. "The consolidation of BFC marks a crucial step forward, expanding our geographic reach and enhancing our ability to serve a larger customer base with greater scale. We are also on the verge of launching our much-anticipated digital wallet, designed to make managing money more convenient and secure than ever before," he said.

Al Ansari stressed that the group remains aligned with the UAE's and GCC's vision for a digitally empowered and inclusive economy, with ongoing investments in technology and a focus on sustainable growth that delivers long-term value to shareholders, customers, and the communities it serves.

Khaleej Times