Ajman Bank decides to increase capital

MEDIA IN, Ajman, May 14, 2006 (WAM)
The Board of Directors of Ajman Bank – listed on the Dubai Financial Market – decided on Monday to increase capital in two phases.
The bank said in a statement posted on the Dubai Financial Market website that the increase in the capital of the bank would be in two stages: 1. The increase in the paid-up capital within the authorized capital of 2.1 billion dirhams and the second through the proposal of the General Assembly at its next meeting, To AED 3.5 billion and paid AED 700 million to AED 2.8 billion after obtaining the approval of the competent authorities.
Ajman Bank’s financial results showed net profit for the first quarter of 2018 increased by 31% to AED 34.02 million ($ 9.26 million) compared to AED 26 million ($ 7.08 million).
The current capital of the bank is 1.68 billion dirhams distributed over 1.68 billion shares at a nominal value of AED 1 per share