Emirates Money, a leading consumer finance company, has reported a 31 per cent year-on-year growth in its asset book for 2011, which crossed Dh1.1 billion ($299.4 million).

The wholly owned subsidiary of the Emirates NBD Group also reported a growth in customer base to almost 21,000 customers in 2011, a 23 per cent increase when compared to 2010. Emirates Money envisions an asset book size of Dh1.5 billion by the end of 2012 with a continued focus on the self-employed market segment, it said in a statement.

Founded in mid-2008, Emirates Money has consolidated its position in the market by continuously introducing innovative loan products, such as business loans, non-salary transfer personal loans, loans against point-of-sale receivables, commercial vehicle loans, loans against gold and loans against property.

“Emirates Money has established its position as a leading provider of lending solutions in the region,” said Rick Pudner, CEO - Emirates NBD.

“It also points to the fact that the pace of growth of the business is in line with the parent brand - Emirates NBD. We are all justifiably proud of how much Emirates Money has accomplished in such a short span of time, and of the contribution the company has made to countless individuals and businesses across the UAE.”

With its continued emphasis on growth, Emirates Money has unveiled a positive outlook for 2012, with expectations of improved visibility, brand awareness and increased market share.

“The strong performance of Emirates Money is a reflection of our innovative growth strategy and we will continue to raise the benchmarks by expanding our range of products and services,” said Vikas Thapar, general manager, Emirates Money.

“Emirates Money will also stay focused on creating new opportunities for our customers to meet their financial needs and realize their longer-term ambitions.” – TradeArabia News Service