Ajman Bank’s Mustafa Al Khalfawi on its record profits and strategic transformation

Ajman Bank has achieved a historic financial milestone, posting its highest-ever annual profit in 2024, marking a remarkable turnaround from the previous year’s net loss.

This achievement signals a significant shift in the bank’s trajectory and highlights its growing influence in the UAE’s competitive banking landscape.

Ajman Bank CEO Mustafa Al Khalfawi joins Gulf Business Editor Neesha Salian for an in-depth discussion on the bank’s strategic transformation and the key factors behind its record-breaking performance.

Al Khalfawi delves into the specific initiatives that have driven this success, including a focus on operational efficiency, strategic diversification, and a commitment to customer-centric solutions.

The conversation explores Ajman Bank’s journey to achieve a total operating income of Dhs1.5bn and a net operating income of Dhs736 million, alongside significant improvements in return on equity and return on assets.

The CEO also sheds light on the bank’s strengthened financial position, reflected in its increased equity, reduced non-performing loan ratio, and robust capital adequacy.

Beyond the numbers, this podcast provides a unique glimpse into the leadership and vision that have propelled Ajman Bank to its current position. Al Khalfawi shares his perspectives on the evolving dynamics of the UAE’s banking sector, the challenges and opportunities that lie ahead, and his vision for the future of Ajman Bank.

Tune in for a compelling discussion that offers valuable insights into the bank’s resilience, strategic direction, and its contribution to the growth and development of the UAE economy.