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Finance House’s net profits up to $31.3m

28 Jan 2011

(MENAFN) The Chairman of Abu Dhabi-based Finance House, Mohammad Abdullah Al Qubaisi, said that its net profits increased a little from $30.6 million in 2009 to $31.3 million in 2010, reported Gulf News.

Al Qubaisi said that the board of directors has suggested a cash dividend of 15 percent and stock dividend of 10 percent, founded on the Finance House’s steady performance through challenging economic conditions.

The chairman said that total assets were up by 15 percent $740.36 million in 2009 to $849.23 million in 2010. He also said that customer deposits increased to gradually to $427.34 million.

It is worth noting that after handing out a cash dividend of $30 million to shareholders, the Finance House shareholder equity stopped at $151.6 million at the end of 2010.

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