Total Assets (AED) 1bn
Total Liabilities (AED) 1.48m
Shareholders Equity (AED) 1bn
PE (annualised) 291.6
Price to Book Value (PBV) 1.7 0.9 -48% 0.9
Profit Margin (ROS)
Return on Assets (ROA) -2.9% -2.9% -0.2% 0.3%
Return on Equity (ROE) -2.9% -3% -1.7% 0.3%
PE, ROA, and ROE are annualised figures. AJMANBANK 4th quarter data not supplied so Q4 figures calculated from FY and M9 data but are not confirmed. Ajman Bank still have close to AED 1 billion invested in "Islamic financing instruments". I suppose the good news is that they're not losing money as fast as other companies that have invested in other assets, and Ajman Bank still have most of their money. No dividend information or AGM date supplied.
Ajman Bank FY statements say they are for the period 07 January 2007 (yes, 2007) until 31 December 2008. I didn't think they existed in 2007 ?
DFM 16 February 2009 (am):
(AJMANBANK) Ajman Bank: Announces its preliminary financial results for the year 2008
its normal to see that losses , the ank has just started operating a couple of weeks ago . we need to see how it will operate during the coming year and its results to be able to make a judgment on the performance .
They donīt give out revenue info? _________________ Nakheel bonds SOLD at a lovely lovely profit...My current holdings right now FGB, Deutsche Bank, Credit Suisse, Barclays and Aldar.
They do, but none from core banking operations. For consistency across all companies I calculate revenue from core operations (interest and Islamic finance income for banks) and treat everything else as "Other Income".
Ajman Bank income for the 2 year period from 08 January 2007 to 31 December 2008 was AED 50.63m from "investment in Islamic financing instruments". For the period ending 30 September 2008 it was AED 36.59m which means 2008 Q4 figure was AED 14.04. _________________ UAE IPO list | posting guidelines
Ajman: Ajman Bank (AJMANBANK), has announced profits of Dh3 million for 2008. The bank launched operations in January 2007. The bank launched retail operations a month ago. The bank's profits decreased 58.7 per cent from Dh7.39 million at the end of the third quarter of 2008.
The company's fourth quarter results were not revealed.
The bank's income from investment in Islamic financing instruments added up to Dh50.6 million for the year, an increase of 38.2 per cent from Dh36.6 million at the end of the third quarter.
Ajman's first Islamic commercial bank, with two branches and a staff of 120, plans to expand with branches in Sharjah, Dubai and Abu Dhabi.
Its earnings per share have dropped to Dh0.003 from Dh0.01 at end of third quarter in September. Assets increased from Dh1.01 billion at the end of the third quarter to Dh1.02 billion at the end of the year. UAE nationals own 90 per cent of the bank's shares.
this is natuarally expected from a new bank and in current global financial crises...
i believe by 2010 the bank will perform and do well...
As of today its price on DFM is 0.95 which is far better than any other well established company on same floor...
One can expect dividends in 3rd year of operation of such establishements... _________________ sMiLeS AccRoSS MiLeS
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