Al Ansari Financial Services reported broadly stable operating income of Dh635 million in the first half of 2026, as higher gains from currency exchange helped offset softer commission income across some remittance products and corridors.
Net gains on currency exchange increased 0.4 per cent to Dh322 million, while net commission income declined 1.4 per cent to Dh312.9 million. The group said its diversified revenue base helped offset lower activity in certain products and transaction corridors.
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Net profit after tax stood at Dh151 million, down 28.7 per cent year-on-year, while EBITDA declined 15 per cent to Dh242.8 million. The EBITDA margin was 38 per cent, compared with 45 per cent in the same period last year.
The company attributed the lower profitability to a combination of softer revenue, the largely fixed nature of its operating-cost base and planned investment in people, branches and systems as it expands regionally.
Total assets increased 13 per cent from the end of 2025 to Dh5 billion, reflecting the group’s expanding footprint and continued investment in its platform.
Al Ansari generated Dh224 million in free cash flow during the first half, with cash conversion remaining at 92 per cent. Net current assets stood at Dh2 billion, while capital expenditure represented 2.9 per cent of operating income.
The group said activity showed a gradual recovery as the first half progressed.
platform expands
Al Ansari continues to invest in its regional network, digital channels and systems as it works to integrate its expanded operations and improve efficiency across physical and digital channels.
Rashed A. Al Ansari, Group Chief Executive Officer of Al Ansari Financial Services, said keeping operating income broadly in line with the previous year during disruption across important transaction corridors reflected the underlying strength of the group’s revenue base.
He said investment in people, network and systems was aimed at supporting a larger regional business and strengthening the group’s long-term capacity and competitive position.
Mohammad Bitar, Deputy Group Chief Executive Officer, said the group was focused on improving efficiency across its expanded platform, managing costs and margins and directing investment towards digital channels and emerging technologies.
The company said it will continue to focus on operational efficiency and regional integration, while using advanced technologies and artificial intelligence to improve operations and customer experience.
Source: Khaleej Times