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FINANCIAL NEWS
UAE- Dunia Finance reports USD19.86m profit in 2012
18 Mar 2013
(MENAFN) Dunia Finance announced that its net profit grew to USD19.86 million in 2012, compared with USD4.89 million a year before, reported Gulf News.
The financial institution said that net revenues for last year increased by 37 percent from 2011 to USD76.48 million.
The company attributed the good performance in 2012 to the 28-percent rise in the number of customers that boosted customer asset by 36 percent to USD206 million.
Dunia’s Executive Director and CEO, Rajeev Kakar, added that the company’s cost-income ratio grew to 48 percent last year, up from 65 percent in 2011.
It is worth noting that Dunia’s cash and cash equivalents went up to USD12.52 million, while the firm’s capital adequacy reached 32 percent higher than the regulatory requirements of 15 percent.
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