Al Ansari Financial Services said on Friday its net profit after tax declined 29 per cent year-on-year to Dh77 million. The Dubai-listed company said the profit fall was due to weaker-than-expected volumes in some areas, as geopolitical developments hit tourism, a largely fixed operating cost base, pressure on margins from competition such as fintech firms, and higher financing costs as it continues to expand.
During the quarter, the business continues to demonstrate resilience in a more conservative operating climate, notably across regional travel and tourism-related activity, through its varied and primarily non-discretionary service offering. Towards the close of the quarter, there were early signs of stabilisation in geopolitical conditions underpinning a steady recovery in activity levels.
The group’s network is at 441 branches throughout the UAE, Bahrain, Kuwait and India as on 31 March 2026. Its subsidiaries include Al Ansari Exchange, the cash management company CashTrans, the B2B-focused money transfer business Blue Remit, and others.
The group continued with its capex-light approach with capital expenditure at about 2.1 per cent of operating income and EBITDA-to-cash conversion remained good at 95 per cent sustaining a strong liquidity position.
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