Dubai, May 5th, 2008 (WAM) -- Network International, an Emirates NBD Company, has announced its 2007 financial results, ending the year with revenues to the tune of AED 187 million a 48% increase over the previous year.
The company also reported consolidated net profits of AED 98 million, a healthy 60% growth over previous year?s AED 61 million. Releasing the results, Mr. Abdulla Qassem, Chairman, Network International, said: This is a proud moment for every team member at Network International. Over the past 5 years, we have worked hard to establish our indisputable dominance over this market through continuous innovation, investment in technology and building robust relationships with our customers our true partners in this success. ''The merger of NBD?s acquiring business into Network will create business synergies that will further consolidate Network International's market share both in this market and beyond. Today, Network International is truly poised to become a regional industry leader, said Mr. Abdulla Qassem. The company will consolidate on this stellar performance as well as accelerate expansion initiatives already in place in Egypt and elsewhere across the GCC. Commenting on the results, Mr. Ramkumar Chari, General Manager, Network International, said: With more than 30 local and regional banks currently processing their cards through us and with a merchant acquiring market share of 65% - both in terms of number of merchants and sales volumes Network International has clearly demonstrated that its strategy of embracing state of the art technologies and world class customer service levels has resulted in win-win partnerships for all our customers.Copyright Emirates News Agency (WAM) 2008.
