Al Ansari Financial Services UAE Public Offering

Integrated offering enabling the swift, seamless and secure mobility of money. The Group offers cross-border payments services, foreign exchange solutions, access to the UAE's Wage Protection System ("WPS"), bill collection and pre-paid cards services, as well as, end-to-end cash management solutions to retail and corporate customers.

Market dominance in home market. The leading outward personal remittances market player in the UAE, capturing 38%¹ of the exchange house outward personal remittance market and handling 2.6% of global outward personal remittances in 2021. Major player in the UAE’s retail foreign currency exchange market with 35% market share in 2021.

Unparalleled reach. 231² physical branches strategically located across the UAE, the largest physical branch network in the UAE and more than double the second player in the market.

Innovative and proprietary digital capabilities. State-of-the-art technology suite integrated across multiple customer touchpoints offering a seamless omnichannel customer experience, with a 99.96%3 system availability rate. Top-rated App (#1 by Forbes in GCC in 2021) allowing it to capture the largest share of digital outward personal remittances among exchange houses (c. 41% in 2021).

Extensive global network reach. 131 correspondent banks and 137 agents present in 45 countries4 support Group’s cross border operations.

Strong increase in operating income. Reported AED 1.2 billion in 2022 vs. AED 988 million in 2021, and AED 831 million in 2020 (CAGR of 17.8% between 2020 and 2022), supported by strong growth across all offerings.

Sustained cash flow. Strong cash flow with an average cash conversion rate of 96% (2020 – 2022); well poised to support a target minimum dividend distribution of AED 600 million for FY 2023 and a minimum dividend pay-out of 70% of net profit thereafter.

Clear growth strategy. Focusing on expansion of physical branch network in the UAE and across the GCC, continued investment in digital capabilities, increasing margins, and unlocking additional opportunities in the corporate remittances and end-to-end cash management markets.

Led by a seasoned and independent management team. 75 years of collective industry experience, capable of delivering on growth plans and driving further success after IPO.