Al Ansari Financial Services reported a 29 percent year-on-year drop in net profit for the first quarter, bringing its total to Dh77 million. The company pointed to regional geopolitical tensions as a primary factor, noting that these developments stifled tourism and affected transaction volumes. Furthermore, the firm faced increased competition from emerging fintech rivals and higher financing costs driven by its ongoing expansion strategy, which collectively weighed on its bottom line and resulted in a 10 percent dip in EBITDA to Dh123 million.

Despite these hurdles, the company showed signs of underlying strength, with operating income climbing 9 percent to Dh321 million. Leadership remains optimistic, citing the essential nature of their services and a growing shift toward digital platforms. With a vast network of 441 branches across the UAE, Bahrain, Kuwait, and India, the group is banking on a gradual recovery in travel and tourism. CEO Rashed A. Al Ansari emphasized that the firm’s commitment to digitization and its robust cash conversion remain central to navigating the current climate and securing future growth.