Finance House posts Dh126m net profit - Emirates24|7

Finance House posts Dh126m net profit


Abu Dhabi-listed Finance House said on Monday it earned a net profit of Dh126.7 million for first quarter 2008, compared to Dh41.1 million in the same quarter last year.

Earnings per share were Dh0.58 for the quarter, the company said in a statement.

Shareholders' equity rose to Dh989.4 million at end-March 2008, providing the company with the balance sheet strength it needs as it sets its sights higher, said Mohamed Al Qubaisi, chairman of Finance House.

Loan portfolios recorded an overall growth of over 32 per cent during the quarter, contributed by both commercial and retail portfolios. Deposits grew 6 per cent as compared to the previous year-end, the statement said without being specific. (Reuters)