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FINANCIAL NEWS
Abu Dhabi’s Dunia Finance posts USD4.89m profit in 2011
06 Mar 2012
(MENAFN) Dunia Finance said that profits in 2011 rose to USD4.89 million compared with a loss of USD23.95 million in 2010, reported Emirates 24/7.
The leading financial services company added that its total revenue soared 94 percent from a year earlier to USD55.80 million.
On the other hand, customer base also increased by 54% during the year over 2010.
The Abu Dhabi-based firm also said that Return on Equity (ROE) was higher in 2011 at 15.2 percent.
It is worth noting that Dunia Finance was able to lower expenses, while it maintained prudent impairment reserves and enhanced loss absorption capacity.
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