Official name
Al Ansari Financial Services
DFM · ALANSARI
Al Ansari Financial Services
- Research depth
- Review ready · verified figures appear when approved
- Sector lens
- Financial services and insurance
- Reporting context
- Q1 2026 reviewed IAS 34
Company overview
- Exchange
- DFM
- Ticker
- ALANSARI
- ISIN
- AEE01198A238
- Market identifier code (MIC)
- XDFM
- Stable research ID
- DFM-ALANSARI
- Industry evidence
- Non-bank remittance, foreign exchange and payment services
- Instrument type
- Listed equity
- Research status
- Review ready · verified figures appear when approved
- Latest financial period
- Q1 2026 reviewed IAS 34
- Identity evidence checked
- 2026-08-11
- Identity checked
- Identity revalidation is due; this dated record is not proof of current listing status
- Listing lifecycle
- Primary active route confirmedA dated identity record does not prove the current listing state after its verification date.
Issuer participationProfile foundation available
Al Ansari Financial Services · What the issuer can provide
- current identity confirmation
Why this company is in the directory
Coverage follows a reconciled listed-security identity and dated evidence. Inclusion describes research scope only; it is not a ranking, recommendation or claim of complete financial coverage.
- Identity reconciliation
- Exchange and ticker matched the research registry
- Current public research layer
- Review ready · verified figures appear when approved
- Evidence boundary
- Identity record checked: 2026-08-11
Company evidence map
Open a card to inspect its public evidence. Missing, stale, conflicting or unavailable data is never replaced with an estimate.
Review ready · verified figures appear when approvedStale
Open the Company BriefListed-security identity
Revalidation is due; the dated record is not proof of current listing status.
Checked: 2026-08-11→AvailableIssuer profile
Verified public issuer fields are available.
→AvailableSource documents
3 source documents are linked to public facts.
→MissingCompany activity
No linked activity currently passes every public source-document check.
→AvailableOfficial sources
A rights-reviewed official identity source is linked.
→Public identity dossier
Verified listing identity
The fields below come from the current public company registry and any human-published issuer profile. Empty issuer-contact fields stay visibly missing until source and publication-rights review are complete.
- Official listed name
- Al Ansari Financial Services Available
- Exchange
- DFM Available
- MIC
- XDFM Available
- Ticker
- ALANSARI Available
- ISIN
- AEE01198A238 Available
- Instrument
- Listed equity Available
- Sector
- Financial services and insurance Available
- Industry
- Non-bank remittance, foreign exchange and payment services Available
- Identity checked
- 2026-08-11 Available
- Official website
- Missing Missing
- Investor relations
- Missing Missing
- Registered address
- Missing Missing
- Public contacts
- Missing Missing
Company activity context
Only exact-security, human-published activity that passes every public source-document check can appear here.
No linked update currently passes every public gate.
Open the full chronologyPublic identity passport
Required identity fields are shown individually with their evidence state. A public link is not reuse permission, and a blank is never converted to a guess.
Ticker
ALANSARI
Exchange and MIC
DFM · XDFM
ISIN
AEE01198A238
Instrument type
Listed equity
Sector and industry
Financial services and insurance · Non-bank remittance, foreign exchange and payment services
Listing status
Primary active route confirmed
Official website
Not available in the public evidence layer
Investor relations
Not available in the public evidence layer
Registered address
Not available in the public evidence layer
Public email
Not available in the public evidence layer
Public phone
Not available in the public evidence layer
Business description
Not available in the public evidence layer
Verified issuer profile
A verified public issuer profile has not been published yet.
Business model
Non-bank transactional financial-services group earning foreign-exchange spreads and commissions from cross-border/domestic remittances, retail/wholesale currency exchange, UAE WPS salary processing, bill collection, prepaid travel cards, corporate payments and digital wallet services; CashTrans transports/processes cash and valuables. BFC adds Bahrain, Kuwait and India operations.
Al Ansari — 444 counters, and a listing that raised nothing
A line on the issuer's own website that its prospectus contradicts
The investor page of Al Ansari Financial Services still tells readers the group "raised AED 773 million from the IPO". The 2023 international offering memorandum says something else: the April 2023 sale of 750 million existing shares, 10% of issued capital, was entirely secondary, the money went to the selling shareholder and the issuer received nothing. That distinction decides whether the listing funded expansion or merely changed who owns it. The same page still names Faisal Anwar as finance chief, while the FY2025 accounts and the current governance page are presented under Group CFO Suhail Hoosain.
What actually stands behind 444 signboards
The network reached 444 branches at the end of 2025, 177 more than a year earlier: 160 arrived with BFC and 17 were opened in the UAE. Around 57 million transactions passed through it, which the issuer describes as more than 134,000 a day for over five million customers and more than 4,500 staff. Counters deal in over 85 currencies. CashTrans, the cash-logistics arm, runs 53 armoured vehicles, 285 cash hubs and two dedicated facilities for 78 external customers. Digital transactions grew 49% and card spend 33%, though the 25% digital share is defined inconsistently between outward remittances and total transaction count.
Income climbed for five years while earnings walked the other way
Total income moved from AED 1,002.448 million in FY2021 through AED 1,170.303 million, AED 1,162.476 million and AED 1,188.636 million to AED 1,325.720 million in FY2025, a rise of 32.2%. Profit fell across the same span: AED 491.215 million, AED 595.295 million, AED 495.189 million, AED 405.849 million and AED 400.858 million, 18.4% lower at the end than at the start. FY2025 income was AED 675.342 million of currency-exchange gain, AED 615.915 million of net commission, AED 31.602 million of interest and AED 2.861 million of other income; within commission, transfers contributed AED 450.604 million, salary processing AED 96.736 million and bill collection AED 42.019 million. In Q1 2026 income of AED 326.649 million rose 8.1% while profit of AED 77.402 million dropped 28.9% and the management margin slipped to 38.4% from 46.8%.
Most of the money on the balance sheet belongs to the senders
Reported cash and bank balances of AED 3,777.189 million against total assets of AED 4,435.385 million look like a fortress until the matching liabilities are read. At 31 March 2026 payables carried AED 590.420 million of salary-processing balances, AED 369.990 million on travel cards, AED 134.922 million of bill collections, AED 124.335 million of transfers awaiting delivery and AED 104.441 million unclaimed. The issuer's own matching diagnostic covered those liabilities 101.05% at FY2025 and 96.99% three months later. A further AED 96.744 million of deposits was restricted from daily use and AED 22.10 million of third-party cash sat off balance sheet inside CashTrans.
Borrowed from its own parent, and the dividend followed
Gross debt excluding leases was AED 692.150 million at FY2025, of which AED 389.020 million was owed to the controlling shareholder under an AED 950 million unsecured facility; AED 735.151 million was drawn during the year and AED 346.131 million repaid, at a finance cost of AED 22.662 million. The FY2025 distribution of AED 297 million, 4 fils a share and 74% of profit, was paid in two halves, and after the first quarter closed a further AED 148.5 million was drawn on that same parent facility to fund the second payment. Ninety per cent of the equity sits with Al Ansari Holding LLC.
What the filings still refuse to answer
Nothing in the audited package gives a remittance corridor breakdown, an average ticket, a value of money moved or a commission take rate per transaction — the four numbers that would actually explain this business. Prior-year transaction counts are absent, so the 57 million figure has no comparable base. There is no bridge separating organic UAE growth from nine months of BFC, no standalone BFC history, and no synergy or integration cost. Free float is an arithmetic residual of 10%, not a measured tradable quantity.
Key reported figures
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Revenue | 1002.448 | 1170.303 | 1162.476 | 1188.636 | 1325.72 |
| Profit Owners | 491.215 | 595.295 | 495.189 | 405.849 | 400.858 |
| Total Assets | 4435.385 | ||||
| Equity Owners | 1843.147 | ||||
| Operating Cash Flow | 487.27 | 664.811 | 712.384 | 831.564 | 793.786 |
| Revenue | 326.649 | ||||
| Profit Owners | 77.402 | ||||
| Gross Debt | 692.15 | ||||
| Cash | 3777.189 | ||||
| Net Debt | |||||
| Restricted Or Escrow | 96.744 | ||||
| Revenue Pct | 32.2 | ||||
| Assets Pct |
An empty cell means the issuer did not report a value for that field.
Physical assets
- 444 branches at end-2025, up 177 in a year: 160 acquired with BFC, 17 newly opened in the UAE
- about 57 million group transactions in FY2025; the issuer states more than 134,000 a day for over 5 million customers
- more than 85 currencies bought and sold at the counters
- CashTrans: 53 armoured vehicles, 285 cash hubs, two dedicated facilities, 78 external customers
- more than 4,500 employees per the issuer's investor page
- customer settlement balances at 31 March 2026: salary processing 590.420, travel cards 369.990, bills 134.922, remittances 124.335, unclaimed 104.441
Group entities
- Al Ansari Holding LLC — 90% of shares at 31 December 2025
- Al Ansari Exchange — the UAE operating company
- BFC Group — 100%, bought on 8 April 2025 for AED 734.600 million
- Bahrain Financing Company, Bahrain Exchange Company in Kuwait and the Indian operations sit inside BFC
- CashTrans, Blue Remit, Worldwide Cash Express, Al Ansari Digital Pay
- Al Ansari Exchange Kuwait — related-party purchase announced, not closed
- Mustafa Sultan Exchange in Oman — stake agreement of June 2026, completion pending
Geographic footprint
- UAE — AED 1,164.109 million, 87.81% of FY2025 income
- Bahrain — AED 108.491 million
- Kuwait — AED 45.548 million
- India — AED 7.572 million
How to read this company's economics
Numerical values remain in the separate source-document checkHow the operating model becomes revenue and cash
A remittance and exchange network earns transaction fees and foreign-exchange spreads by moving customer money through branches and digital channels. It is not a deposit-taking bank and should not be read through loan margins or problem-loan ratios.
Five questions before reading the headline
1. What created demand?
Measure transfer and exchange volume by corridor, channel and transaction type.
2. What was actually delivered?
Connect transaction count and average ticket to eligible volume without treating client money as company revenue.
3. What determines the margin?
Read fee and FX take rate after separating product, corridor, channel and acquisition mix.
4. Where is cash tied up?
Trace regulated client funds separately from corporate cash, receivables and settlement balances.
5. What must be funded next?
Match branch count and digital share to active customers, transactions, compliance capacity and unit economics.
Official-source snapshot
What the company does and where to verify it
A manually reviewed, paraphrased snapshot from issuer and official market records. Each field keeps its exact source and verification date.
No public snapshot has passed this separate review yet.
Official website, investor-relations, market-record and public contact fields remain unavailable here until their exact source, current value and reuse boundary are reviewed. Nothing is inferred from aggregators or another company.
Capital-markets analytical model
The metrics below define the correct analytical lens for this business model. They contain no company values: a value appears only after official-document provenance and editorial verification.
- Market activity or AUM
- Trading value, transactions, listed activity or assets under management on the issuer-defined basis.
- Fee revenue mix
- Trading, clearing, custody, brokerage, management and advisory fees kept separate from investment returns.
- Client asset segregation
- Client cash, securities and fiduciary assets kept outside shareholder liquidity and proprietary AUM.
- Regulatory capital and liquidity
- Capital, liquidity and margin requirements for the exact licensed entity and reporting date.
- Operating leverage
- Revenue sensitivity to activity and fee schedules relative to fixed technology, people and regulatory costs.
What changed
Full company chronologyVerified company activity
Only exact-security activity that passes the automatic source, locator, date and localization gates is shown. Exceptions remain unpublished. Each date keeps its lifecycle meaning.
No linked activity currently passes every public source-document check.
Sources
Identity evidence
- Identity evidence
- Exchange-hosted evidence
- Identity record checked
- 2026-08-11
- Evidence host
- assets.dfm.ae
Research collections
This company appears in the dated public collections below. Membership describes coverage and evidence context; it is not a ranking or recommendation.
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Identity revalidation due
Dated public identity checks earlier than 18 August 2026; this does not assert current listing status.
- Membership version
- v1
- Effective from
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