Ajman Bank’s shareholders approve capital increase plan
The shareholders of Ajman Bank have agreed to the board’s proposal to do a rights issue. Ajman Bank plans to increase the authorized capital and increase paid up capital. As of 2015, the bank’s CAR was 13.4% and Tier 1 ratio was 12.14% which is low relative to the sector (CAR: 18.3%, Tier 1: 16.6%). The government of Ajman owns a 25% stake in the bank. (Company disclosure)
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