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Tuesday, April 16, 2024

In H1 2023, MBME Group achieved a Dh487 million net profit

MBME Group PJSC announced a Dh487.7 million net profit for H1 2023. The growth is attributed to entering new markets, innovation, partnerships, and expanded self-service solutions. Chairman Ali Mohamed Saeed Albadi AlDhaheri expressed gratitude for the team’s efforts and outlined commitment to innovation and excellence.

The financial data showcases a net profit of Dh487.7 million and a book value of Dh7.34 billion. Retained earnings of Dh963.9 million demonstrate prudent financial management.

The Group expanded self-service solutions beyond Abu Dhabi and Dubai, aiming for wider digital interactions.

In GCC, Mena, and Southeast Asia, MBME Group’s entry into Indonesia, the Philippines, and Malaysia aligns with its commitment to innovation. Deputy Chairman Saeed Mohamed Albadi Aldhaheri highlighted substantial growth and commitment to being a leading online payment service provider.

Innovative products included VR, AR, MR, enhancing user experiences. An advanced real estate solution simplified payments, and a blockchain-based fintech solution enhanced security and trust.

Managing Director Abdelhadi Mohamed praised the team’s innovation and dedication. The Group’s listing on Abu Dhabi Securities Exchange’s Growth Market marked a milestone, showcasing growth potential.

Abdelhadi Mohamed emphasized value delivery to clients, shareholders, and partners. Noteworthy partnerships, like the one with Royal Strategic Partners, SAP Fioneer GMBH, and Naqd Group, led to establishing a digital innovation Hub in Abu Dhabi, advancing finance sectors across Mena and the Indian subcontinent.

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