Dunia Finance reported a 49 per cent jump in net profit for the first half of the year to Dh82.6 million on the back of rising customer numbers and customer deposits, the company said yesterday.
Dunia, which counts Mubadala Development and Waha Capital among its investors, earned Dh55.6m in the same period last year.
The finance company credited its “customer-centric” focus for the 20 per cent growth in customer numbers to 150,400, while customer deposits increased 42 per cent to Dh620.9m from Dh436.7m in the first half of 2013.
Consumer finance companies in the country have been boosted by a robust economy as an increasing number of people have sought loans and mortgages for cars and houses.
The economic prospects look equally bright this year, with the IMF predicting 4.4 per cent growth for 2014.
“Dunia’s strong growth momentum in the first half of 2014 as in previous years once again endorses our business approach of ensuring a focus on our customers’ evolving needs,” said Salem Rashid Al Noaimi, the Dunia chairman.
The company also said it would pay an interim dividend of Dh24 per share for the six months ended in June.
“This interim dividend amount is 50 per cent higher than the interim dividend declared in 2013, reflecting both its strong financial results, continually improving capital base and confidence of continued strong results in the remainder of 2014,” the company said.
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