Abu Dhabi Finance maintains profitability

Abu Dhabi Finance, or ADF, achieved a 10 per cent increase in both client numbers and the size of its loan book in 2013, while its economies of scale and increasing business efficiency allowed it to deliver a 107 per cent increase in operating profits.

In June, Abu Dhabi Finance was named the Best Home Finance Company at the 2013 Banker Middle East Industry Awards, while in March it was recognised for offering the Best Home Finance product, at the 2013 Banker Middle East Product Awards.

One of the region’s leading financial events, the Banker Middle East Awards invites nominations from more than 200 institutions based all over the GCC countries as well as Jordan and Lebanon.

Chris Taylor, CEO of Abu Dhabi Finance, said the results were a reflection of a maturing business and a robust market.

“Last year was our strongest to date, with continued progress on all of our key indicators. We are proud to have achieved double-digit growth in our client base and in the size of our loan book, but we are even prouder to have done so while continuing another year of profitability,” he said.

Ali Eid AlMheiri, chairman of Abu Dhabi Finance, said that while he is pleased with the company’s financial results, the continued improvement in service standards was even more impressive.

“We have achieved significant bottom-line growth during 2013 while remaining committed to our core philosophy of providing outstanding client service. Last year, more than 90 per cent of our clients told us that they are highly satisfied with our service standards.”

Chris Taylor said one of 2013’s achievements of which the Board and management are most proud was in Abu Dhabi Finance’s growing Emirati workforce.

“We have made a commitment to attracting and training more Emiratis into the business. By the end of 2013, Emiratis accounted for twenty six per cent of our total workforce and this proportion will continue to grow in 2014.”