ID :
22851
Mon, 10/06/2008 - 14:38
Auther :
Shortlink :
https://oananews.org//node/22851
The shortlink copeid
Amlak Finance nine months net profit up by 157%
Abu Dhabi, Oct 6, 2008 (WAM) - Amlak Finance announced yesterday its preliminary financial results for the first nine months of 2008. At the end of September 2008, Amlak's net profit for the nine months rose to Dh444 million, an increase of 157 per cent compared to Dh 173 million for the same period of 2007. Amlak's revenue for the nine months that ended in September 2008 was posted at Dh963 million, up 112 per cent against the same period of 2007, with the company's property financing activities contributing 71 per cent of the total revenue.
Total assets as at the end of September 2008 stood at Dh 15.8 billion, a growth of 123 per cent compared to Dh 7.1 billion as at September last year.
Total volume of business reached Dh 18.5 billion as at the end of September 2008 consisting of Dh 9.9 billion of financing and investing assets, with a further Dh 2.9 billion of financing commitments extended to customers, marking an increase of 151 per cent compared to the same period of 2007, and a portfolio of Dh 5.6 billion of real estate investments.
In the third quarter of 2008 Amlak received approval from Jordan's Securities Commission to increase the paid-up capital of the soon to be launched Amlak Finance (Jordan) from JD55 million to JD63 million. Similarly, Amlak Finance (Qatar), a joint venture between Amlak Finance PJSC and BARWA Real Estate Company, received the license from Qatar Central Bank to commence operations.
Total assets as at the end of September 2008 stood at Dh 15.8 billion, a growth of 123 per cent compared to Dh 7.1 billion as at September last year.
Total volume of business reached Dh 18.5 billion as at the end of September 2008 consisting of Dh 9.9 billion of financing and investing assets, with a further Dh 2.9 billion of financing commitments extended to customers, marking an increase of 151 per cent compared to the same period of 2007, and a portfolio of Dh 5.6 billion of real estate investments.
In the third quarter of 2008 Amlak received approval from Jordan's Securities Commission to increase the paid-up capital of the soon to be launched Amlak Finance (Jordan) from JD55 million to JD63 million. Similarly, Amlak Finance (Qatar), a joint venture between Amlak Finance PJSC and BARWA Real Estate Company, received the license from Qatar Central Bank to commence operations.
