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The company's Shareholders' Equity as at 30th September 2009 stands at Dhs693.6m, after having paid out a dividend of Dhs200m earlier this year. Its strong capital base provides it with the balance sheet strength to grow prudently and profitably.
Mr. Alqubaisi continued:
"We continued to maintain our cautious stance on our loan and investment portfolios, which has resulted in a marginal reduction in the loan book by 3% from the previous year-end level to Dhs1.11bn. The impact of the reduction in loan book is offset by improved yields, while the asset quality has stood up very well in a rather challenging credit environment. Our investments have performed well in markets that have seen a sustained rise over the summer."
"Our strategy of seeking and addressing profitable niche segments should continue to stand us well through the current phase and enable us to continue generating above average equity returns for our shareholders on a sustained basis", Mr. Alqubaisi added.
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Posted by Nadeen El Ajou
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