Amlak Finance H1 profit jumps 305% to Dh77 million on higher investment income, lower financing costs

Amlak Finance reported a 305 per cent jump in first-half net profit after income tax to Dh77 million, driven by higher income from wakala deposits and the elimination of distribution costs to financiers following the settlement of its financial obligations.

Net profit increased from Dh19 million in the corresponding period of 2025.

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Revenue from financing and investing activities rose to Dh54 million, from Dh3 million a year earlier, primarily due to higher placement of wakala deposits, which generated Dh52 million in income during the period.

Financier distribution costs fall to zero

Amlak said its cost of distribution to financiers was nil in the first half of 2026, compared with Dh14 million in the same period last year.

The reduction followed the full settlement of all the company’s financial obligations in July 2025.

The company said the settlement had strengthened its financial position and provided greater flexibility in managing liquidity and pursuing strategic initiatives.

Dh735 million distributed to shareholders

Amlak recently distributed Dh735 million in cash dividends to shareholders.

Following the distribution, total assets stood at Dh2.75 billion.

Arif Albastaki, Chief Executive Officer of Amlak Finance, said the first-half performance reflected progress in strengthening the company’s financial position and improving balance-sheet flexibility.

He said the settlement of financial obligations had enabled Amlak to optimise its liquidity profile and provided greater capacity to pursue strategic initiatives.

The company will continue to focus on disciplined capital allocation and sustainable long-term value creation for shareholders, he added.

Written by

Alyaa Aldhanhani Business Reporter

Alyaa Aldhanhani is a business reporter based in Fujairah. She covers business, markets and lifestyle trends in the UAE with a focus on stories that connect with everyday readers. In her spare time, she enjoys exploring new cafes, drawing, and staying active.