Amanat’s first half net profit Dh23.8 million vs Dh1.6 million year ago

Dubai: Amanat Holdings said on Monday, its net profit in the first half to June jumped to Dh23.8 million from Dh1.6 million on the back of improved yield rates on deposit and on the contribution of associates.

For the first six months of the year, Amanat reported a total income of Dh32.5 million, primarily from interest income, which was at Dh31 million. Yields on deposits came at an average of 2.88 per cent compared to 1.63 per cent in the first half of the same period last year.

“The recent acquisition of our stakes provides Amanat with a strong platform for growth as we enter the second half of the year,” Faisal Bin Juma Belhoul, Chairman of the Board of Amanat said in a statement.