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Finance House okays 25% cash dividend.

Shareholders of Abu Dhabi's Finance House approved a cash dividend of 25 per cent for the year ended December 31, 2013.

Finance House recorded a total comprehensive income of Dh117.6 million, a 52.3 per cent year-on-year growth.

Total assets grew by 10.6 per cent to reach Dh4.12 billion compared to Dh3.72 billion as at December 31, 2012.

Customer deposits rose by a robust 20.8 per cent to reach Dh2.18 billion, an all-time high.

In his address to shareholders, Finance House chairman Mohammed Abdulla Alqubaisi said the company has maintained profits since inception.

"In less than a decade, we have experienced a complete boom-bust cycle and it is gratifying to note that our resilient business model has delivered profitable growth not only during periods of rapid economic growth but also during periods of relative economic stagnation or contraction."

-- haseeb@khaleejtimes.com

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Publication:Khaleej Times (Dubai, United Arab Emirates)
Date:Mar 16, 2014
Words:162
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