Adntc Announces Annual Financial Results with Combined Net Profit of Aed64.6 MillionSource: www.export-egypt.com 4/10/2018, Location: Middle East |
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Abu Dhabi National Takaful Company, ADNTC, has announced its financial results for the year ended 31st December 2017.
The company posted a combined net profit of AED64.6 million for the year 2017 (for policyholders & shareholders before Qard Hasan provision). Shareholders net profit reached AED59 million compared to AED48.4 million for the same period last year representing an impressive increase of 22%. The total gross contributions reached AED373.8 million compared to AED320.8 million for the year ended 31st December 2016 representing 16.5% increase. These results were released after the approval of the annual general assembly meeting held , 9th April 2018, where AED 20 million in dividends representing 20% of the paid-up capital (20 fils per share) were also declared for 2017. It is worth noting that due to the company’s consistent strong performance, 2017 dividend’s distribution is the highest compared to previous financial years where during 2013 to 2016 the company distributed dividends representing 16% of its paid-up capital. This stellar performance marks ADNTC’s eighth consecutive year of continuous increase in net profits that was significantly boosted by excelling across all financial & non-financial key performance indicators with a focus on providing excellent customer service and unique products offerings. Commenting on announcing the results, Khamis Buharoon Al Shamsi, Chairman of ADNTC Board of Directors, said, "2017 has been a remarkable year for us where we successfully delivered our strongest annual financial results to date. The shareholders net profit reached AED59 million in 2017 compared to AED48.4 million in 2016 showing an impressive increase of 22%. This reflects the successful execution of our strategies, our long-term vision and the soundness of our business model". |
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