9.38 PM Thursday, 7 December 2023
  • City Fajr Shuruq Duhr Asr Magrib Isha
  • Dubai 05:29 06:47 12:13 15:10 17:33 18:51
07 December 2023

National Bonds' 2009 profit rate stands at 3.45%

National Bonds' 2009 profit rate stands at 3.45%. (EB FILE)

By Staff Writer

National Bonds Corporation yesterday announced a 3.54 per cent profit rate for bondholders for 2009, taking its cumulative three-year return to 16.64 per cent.

In a reflection of its solid showing in 2009, National Bonds registered a 48 per cent growth in new savings deposits and saw its customer base increase by eight per cent to 560,000 bondholders from over 91 different nationalities. The Mudaraba Fund grew to Dh3.7 billion while new business sales of Dh2.5bn were achieved. Statistics show that repeat purchases rose to 63 per cent.

Mohammed Qasim Al Ali, CEO, said: "In 2010, we will continue to focus on inculcating the savings culture while giving best value to our customers through innovative products and services. We will ensure that bondholders continue to enjoy the experience of saving with us."

Louis Bruno Rochecouste, Chief Commercial Officer, said: "To live up to the expectations of its bondholders, the strategic focus of National Bonds in 2010 will be to further increase its market share, innovate and deploy the latest technologies in distribution and customer service; continue with its products enhancements and the rollout of new unique products envisaged for 2010 that will meet the different needs of our bondholders."


Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here.