trending Market Intelligence /marketintelligence/en/news-insights/trending/tztkbhp_ltzq4ffomu_ava2 content esgSubNav
In This List

Ajman Bank to increase capital

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Ajman Bank to increase capital

United Arab Emirates-based Ajman Bank PJSC's board of directors approved a two-stage capital increase, subject to regulatory approval.

The bank said it will first increase its paid-up capital within the current authorized capital of 2.1 billion UAE dirhams. It will also propose to its annual general meeting to raise authorized capital to 3.5 billion dirhams and paid-up capital to 2.8 billion dirhams.

Ajman Bank is 25% owned by the emirate of Ajman and listed on the Dubai Financial Market. The lender provided no details on the structure of any capital increase.

As of May 11, US$1 was equivalent to 3.67 United Arab Emirates dirhams.