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Takaful profits hit AED 36m

Takaful profits hit AED 36m
Photo Credit: Arabianeye-Reuters
Takaful
TKFL
-2.17% 4.50 -0.10

Abu Dhabi – Mubasher: Abu Dhabi National Takaful (Takaful) has reported a slight net profit rise by 1.65% during FY14 to AED 35.75 million ($9.7 million) compared to AED 35.17 million ($9.57 million) during FY13.

Earnings per share (EPS) rose to AED 0.36 during the period, up from AED 0.35 during the previous year.

Operational profit retreated by 8.3% to AED 54.8 million against AED 59.8 million.

Net income from investments grew to AED 11.7 million in FY14 against AED 7.3 million during the corresponding period in 2013, while cash, banks and deposits soared to AED 208.3 million against AED 35.2 million.

Takaful’s capital amounts to AED 100 million divided on 100 million shares at par value AED 1 per share. The Company operates in insurance and reinsurance that is in compliance with the Islamic Sharia.