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· Dunia Group's total dividend payout increases 97% to AED 142 million in 2015, compared to AED 72 million in 2014
· Dunia Finance declares a full year 2015 dividend of AED 109 million, Dunia Services announces its first full year dividend payment of AED 33 million
· Dividend pay-out of 25.8% of paid up capital for Dunia Group, underscores a robust financial performance in 2015 and strong underlying business momentum
Abu Dhabi - Dunia Group ('dunia' or 'the Group'), a leading UAE based financial organization, today announced total dividend payments of AED 142 million for 2015, a 97% increase on 2014, reflecting the firm's record profitability and strong underlying business momentum.
The Group's financial services arm, Dunia Finance, declared a full year payment of AED 109 million, while Dunia Services, the knowledge sharing and consultancy business arm, announced its first full year dividend payment of AED 33 million. Combined, both payouts account for 56.6% of dunia's 2015 net income of AED250.9 million.
Of particular note last year was the performance of Dunia Services. Incorporated less than 4 years ago with an initial paid up capital of AED 300,000, the unit recorded net income of AED 33.5 Million in 2015.
dunia's ability to selectively acquire new customers and deepen existing customer relationships remains a key profit driver. Maximization of value creation through cross selling has also contributed to increased revenue and balance sheet growth. The Group's strong financial footing is backed up by an unsupported 'BB' credit rating from Fitch following a rating upgrade in 2015.
Salem Rashid al Noaimi, Chairman of Dunia Group, said: "We are delighted to have significantly increased returns to our shareholders in 2015. This reflects our strong financial performance over the last year, strengthened capital base, and the Company's continuing strong momentum. We are also delighted that Dunia Services has been able to pay a full-year dividend for the very first time, which is a testament to its strong performance and growth potential."
Rajeev Kakar, Managing Director and CEO of Dunia Group, added: "In 2015, we were able to demonstrate substantial progress in becoming the provider of choice for financial services in the UAE. The Group is well positioned for long-term growth, and as a result, we have been able to make a large increase in dividend payments to our shareholders. We remain committed to continuing to invest in excellence through innovative products and services delivered through new-age technology solutions in line with the evolving needs of customers, to ensure dunia's continued strong growth ahead. "
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ABOUT DUNIA FINANCE
Dunia is an Abu Dhabi headquartered finance company operating in the UAE. It is a strategic investment and alliance created by a group of leading players namely:
· Mubadala - a wholly owned investment vehicle of the Government of the Emirate of Abu Dhabi
· Fullerton Financial Holdings - a wholly owned subsidiary of Temasek Holdings in Singapore
· Waha Capital - a holding company engaged in owning, selling, leasing and investing in various types of fixed and movable assets worldwide
· A.A. Al Moosa Enterprises - one of the leading business groups in the UAE
Dunia aims to focus nationally on the key Mass Affluent and Mass Market segments in the Consumer Financial services side, and on the SME and Small business customers on the Business Finance side. Through a nationwide presence in the UAE, dunia provides a full-function product range, including a secured and unsecured loans, credit cards, financial planning services, deposits, financial guarantees and payroll processing for non-individual customers.
Dunia is unique in its use of a customer-centric approach that aims to deliver a differentiated, yet relevant and unique value proposition that caters to the holistic product, convenience, experience, and service expectations of people in the UAE. All this is delivered sustainably and predictably to customers through processes and a proposition that is supported by investment in state-of-the-art technology and capabilities; and through partnerships with service providers who excel in their individual areas of expertise. Dunia is led by a senior management team comprising of talented and seasoned business leaders with significant global experience.
Dunia means 'the world' in Arabic and in several other languages spoken in the UAE. Dunia aims to offer its customers a world of opportunities.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mariam Elsamny, Head of Corporate Affairs, Dunia Finance
Email: mariamelsamny@dunia.ae
Tel: +971 528559555
MEDIA CONTACT
Nicola Hooper, Bell Pottinger
Email: nhooper@bellpottinger.com
Tel: +971 558 862 254
© Press Release 2016
