DFM-listed Al Ansari Financial Services’ 9-month net profit drops to Dh387.8m

DFM-listed Al Ansari Financial Services’ 9-month net profit drops to Dh387.8m

Al Ansari Exchange now operates 250 locations in the UAE, and the company is keeping a keen eye on growth possibilities in other Gulf markets.

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Dubai: Dubai’s Al Ansari Financial Services, which had its IPO earlier this year, had a profit drop in the year-to-date, totaling Dh387.8 million against the 2022 total of Dh434 million. On the top-line, revenue from continuing operations fetched Dh883.1 million compared to Dh856.5 million.



The DFM-listed entity – the UAE’s biggest name in the remittance space - is working to expand its network presence in key Gulf markets outside of the UAE. It recently revealed plans to take a majority stake in an Omani entity. Al Ansari already has operations in Kuwait.







The stock is up 10 per cent since its listing and will start today at dh1.14. Earlier this month, the company announced an interim dividend for H1-23, at Dh0.04 a share and a total payout of Dh300 million.



The competition in the UAE remittance space continues to be nothing short of intense, with fintechs now getting quite active and taking on the dominance of the legacy currency exchange