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English news

23-Mar-2016

Waha considering stake sale in Dunia; Dunia’s 2015 earnings up 14% Y-o-Y

The CEO of Waha Capital said that a strategic review of Dunia finance, including a potential stake sale, is expected to be concluded shortly. Waha holds a 25% stake in Dunia, whose other shareholders include Abu Dhabi state investment firm Mubadala and Fullerton Financial Holdings. Dunia Finance’s net profit rose 14% Y-o-Y in 2015 to AED217 million. Net interest income rose 41% Y-o-Y to AED546 million. The company saw a 28% Y-o-Y increase in its customers, it now has 211,000 customers. As of 4Q2015 Dunia had a capital adequacy of 33.1% well above the 15% mandated by the regulator. (Reuters, Gulf News)

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