Al Ansari Reports Record H1 2025 Growth with BFC Boost

Al Ansari Financial Services PJSC (DFM: ALANSARI), the GCC’s largest non-bank financial services provider, has delivered a record-breaking performance in the first half of 2025, reporting a 13% year-on-year (YoY) increase in operating income to AED 638 million. This strong growth was primarily fueled by the strategic consolidation of BFC Group from Q2 2025 and continued solid performance across most business lines.

Despite geopolitical headwinds and industry competition, the Group’s ability to sustain momentum showcases its resilience, market leadership, and the effectiveness of its long-term growth strategy. By capitalising on the UAE’s and GCC’s robust economic environment, Al Ansari continues to position itself as a frontrunner in the region’s evolving financial landscape.

H1 2025 Financial Highlights

Operating Income and EBITDA Performance

During H1 2025, operating income rose by 13% YoY to AED 638 million, driven by:

• The consolidation of BFC Group results into the Group’s financials.
• Broad-based growth across the majority of business lines.

EBITDA recorded an 11% YoY increase, maintaining a 45% EBITDA margin despite a complex operational backdrop marked by higher costs and persistent geopolitical uncertainties. This stable margin highlights the Group’s ability to maintain efficiency while expanding operations.

Net Profit and Earnings

Net profit after tax increased by 3% YoY, reaching AED 212 million. This growth came despite higher finance costs linked to the loan taken for the BFC acquisition. The increase in earnings per share (EPS) mirrored the net profit trend, underscoring the Group’s consistent return generation for shareholders.

Operational Growth and Transaction Volumes

Transaction Activity

Al Ansari processed 28 million transactions in H1 2025, marking a 10% YoY increase. This rise demonstrates the Group’s growing customer base and the strengthening demand for its diverse financial products.

Remittance Business

The remittance market has faced pressures from key corridors, competition from fintech players, and global geopolitical tensions. Despite this, Al Ansari’s Remittance Operating Income grew by 2% YoY, reflecting its robust fundamentals and adaptability in challenging market conditions.

Banknotes Segment

The Banknotes Operating Income surged 26% YoY, despite geopolitical pressures affecting certain markets. This growth was supported by:

• Strategic partnerships.
• Strong demand for prepaid cards.
• Increased tourism across the GCC.
• The integration of BFC results.

WPS and Other Services

The Group’s Wage Protection System (WPS) and other services saw operating income jump 36% YoY, fuelled by:

• The expanding GCC labour market.
• Continued infrastructure and development projects.
• Employers prioritising compliance and timely salary disbursements.

Digital Transformation and Innovation

Growth in Digital Transactions

Digital channels recorded a 30% YoY increase in transactions, now accounting for 23% of all outward remittance transactions. This reflects a clear shift in customer preference towards:

• Speed
• Convenience
• Reliability

The rising adoption is a direct outcome of Al Ansari’s ongoing digital transformation strategy, designed to enhance customer experience through seamless, secure, and user-friendly services.

AI Integration

The Group has begun integrating Artificial Intelligence (AI) into its systems, delivering results that have already exceeded early expectations. AI applications are enhancing:

• Fraud detection.
• Transaction processing efficiency.
• Personalised customer service.

Strategic Expansion Beyond UAE

BFC Group Acquisition

The acquisition of BFC Group has expanded Al Ansari’s footprint beyond the UAE, adding operations in Bahrain, Kuwait, and India. This strategic move aligns with the Group’s goal to diversify geographically and serve a broader customer base.

The Kuwait acquisition process is expected to be completed by end-Q3 2025, pending regulatory approvals.

Branch Network

Following the BFC consolidation, Al Ansari now operates 439 physical branches, a significant jump from 259 branches in H1 2024. This expansion strengthens its physical presence across the GCC and South Asia.

Upcoming Digital Wallet Launch

In a move that could redefine customer engagement, Al Ansari is preparing to launch its digital wallet later in 2025. This product is expected to:

• Allow customers to store, send, and spend money with ease.
• Provide enhanced security and transaction transparency.
• Integrate with existing Al Ansari services for a unified financial experience.

Leadership Commentary

Rashed A. Al Ansari, Group CEO, expressed confidence in the company’s trajectory:

“We continue our strong momentum, building upon positive first-quarter results and the consolidation of BFC. Despite challenges, we achieved solid growth across our segments, underscoring the strength of our business model and the trust of our customers.”

He also emphasised the Group’s role in advancing financial inclusion and commitment to supporting both individuals and businesses in the UAE, GCC, and beyond.

Mohammad Bitar, Deputy Group CEO, highlighted operational execution:

“Our focus on strengthening service delivery and operational efficiency has positioned us for sustained growth. The BFC acquisition is a milestone, and our upcoming digital wallet will redefine how customers manage their money.”