2024 will be remembered in history as a paradoxical year where, despite a fluctuating global environment marked by geopolitical tensions and economic uncertainties, global equity markets delivered total shareholder returns in excess of 18% per annum. The robust expansion of the UAE’s GDP (circa 3.8%) in 2024, reflects the nation’s clear vision for economic progress, underpinned by its focus on non-oil sectors.
During 2024, the FH Group continued to focus its energies on strengthening Capital Ratios, maintaining Liquidity buffers, improving asset quality, leveraging cloud technology for improved operational efficiencies and in building digitally enabled Products & Services.
For the year ended 31 December 2024, the FH Group has posted a Consolidated Net Profit before tax of AED 8.26 million (net Profit after Tax: AED 7.49 million), compared to AED 14.81 million registered in the previous financial year ended 31 December 2023.
We continue to fine-tune our strategies and strategy execution capabilities on a regular basis to take advantage of improving market conditions. We remain optimistic that we will continue to spot and exploit profitable opportunities, adapt quickly to changing market conditions, manage risks prudently and maximize returns for our shareholders.
Mohammed Abdulla Jumaa Alqubaisi
Vice Chairman
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To serve and service all our stakeholders
by offering exceptional financial
experience, delivered through a dedicated
team of professionals.
OUR
PURPOSE
BOARD OF DIRECTORS
-
Mr. Khaled
Abdulla Alqubaisi Chairman -
Mr. Mohammed
Abdulla Jumaa Alqubaisi Vice Chairman -
Mr. Ahmad
Obaid Humaid Al Mazrooei Member -
Mr. Murtadha Mohamed Alhashmi Member
-
Mr. Abdulmajeed
Ismail Ali Abdulrahim Alfahim Member -
Mr. Salah
Salem Ebrahim Alsaman Alnuaimi Member -
H.E. Alia
Abdulla Al Mazroui Member -
Mr. T. K. Raman Chief Executive Officer
Key Achievements in 2024
KEY ACHIEVEMENTS IN 2024
- Empowering Credit Wellness – The Sanad Card
In line with our commitment to ethical and customer-focused financial solutions, Finance House has introduced Sanad – a transformative credit card designed exclusively for UAE nationals, with the lowest interest rate in the country at just 1.25% per month. Sanad isn’t just a product – it’s a promise. It enables users to save up to 70% on interest, reduce monthly payments by up to 30%, and move toward long-term financial wellness.
It reflects our core belief: that financial solutions must serve the people, not the other way around.
- Backing the Markets We Believe In
Finance House, alongside Finance House Securities, committed to inject AED 300 million into the Abu Dhabi capital market. This strategic move aims to enhance market liquidity, support investor opportunities, reflects our dedication to responsible investing, while strengthening the UAE’s financial ecosystem.
- Opening the World of Investing — investnation
With investnation, our digital-first investment platform under FH Capital, we’re democratizing access to wealth creation. Users can start investing with as little as AED 500, earn up to 7% annually, and withdraw anytime – no lock-ins, no hidden fees. It’s investing made simple, transparent, and empowering – especially for a new generation of savers and wealth builders.
- Redefining Credit Card Consolidation – The Forsa Card
Finance House continues to redefine credit card solutions for UAE nationals. With Forsa, we’ve introduced a smarter way to manage credit. UAE nationals can now consolidate up to AED 150,000 of their credit card debt into one low-interest card, at just 1.25% per month. Customers can save up to 70% savings on interest, easier repayments, and a clearer path to financial freedom. Forsa is more than a card – it’s a financial reset button to help UAE nationals take control of their credit and achieve greater financial peace of mind.
- Gold Loan – Fast, Reliable, Innovative
Finance House continuously stands out as a key market player in the UAE when it comes to providing instant loan against gold. With its trusted Gold Loan offering, Finance House has set a benchmark for speed, convenience, and reliability in the financial sector. Customers benefit from a swift approval process, competitive rates, and the assurance of dealing with a well-established financial institution. It’s a perfect example of how we combine tradition with technology to serve real-world needs.
RESULTS
& STATISTICS
I summarize below the key financial outcomes of our actions for the year ended 31 December 2024:
- FH Group has posted a Consolidated Net Profit before tax of AED 8.26 million (net Profit after Tax: AED 7.49 million), compared to AED 14.81 million registered in the previous financial year ended 31 December 2023.
- Net Interest Income and Income from Islamic Financing & Investing Assets were lower at AED 123.81 million in 2024 compared to AED 137.80 million in the previous year.
- Net Fee and Commission income earned in 2024 was AED 16.41 million compared to AED 17.95 million in the previous year.
- Our insurance subsidiary registered a substantially improved overall performance, with a reduced Net Insurance Loss of AED 14.75 million in 2024 compared to a Net Insurance Loss of AED 40.35 million in the previous year.
- Net Investment Income from group-wide investing activities was substantially higher at AED 44.91 million compared to AED 5.20 million in the previous year.
