Dubai Financial Market (DFM)-listed Al Ansari Financial Services announced that Al Ansari Exchange, one of its subsidiaries, has opened its 250th branch with the inauguration of one at Burjuman Metro Station in Dubai.
Burjuman Metro Station is the 20th new branch that has been opened nationwide in 2023.
The rapid expansion of new branches this year is part of the group’s strategy aimed at fortifying its foothold and extending its geographical coverage throughout the UAE. Al Ansari Exchange has set a target to have 300 branches over the next two years, subject to obtaining necessary regulatory approvals.
The new branches are spread over six out of the seven emirates in the UAE.
Rashed Al Ansari, Group CEO of Al Ansari Financial Services, commented: “We are unwavering in our commitment to strengthening our presence in all seven emirates through our expansion initiatives. Our foremost objective is to generate increased value for our shareholders and extend the reach of our services, aligning with the expanding national economy.
“We are dedicated to meeting the evolving requirements of our diverse customer base, which encompasses both institutions and individuals. This expansion is in line with the UAE’s rising prominence as the premier global destination in terms of residence, travel, business and investment.”
Expanding Al Ansari Exchange’s reach
Ali Al Najjar, Chief Operating Officer, Al Ansari Exchange, added: “The opening of our 250th branch marks a significant achievement in our growth journey. As we continue to expand our branch network, we are also enhancing our digital channels, ensuring we are where our customers want us to be.
“These innovations aim to provide an omnichannel experience for our customers and solidify our market share and primary position within the remittance and foreign exchange industry in the UAE.
“It’s worth emphasising that 95 percent of our branches are currently profitable.”
This expansion also helps Al Ansari Financial Services in serving its strategy on Emiratisation, boosting job opportunities for both UAE nationals and expats.
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