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Aabar's 2009 net profit rockets to AED1.68bn
February 1, 2010
Aabar Investments, the Abu Dhabi fund that is the biggest shareholder in car maker Daimler, said on Monday that full- year profit more than doubled to AED1.68 billion ($457m).
In a statement posted on the website of the Abu Dhabi Securities Exchange, the company, which holds a 9.1 percent stake in Daimler, said net profit rose from AED721.6 million in the previous year.
It added that total assets at the end of 2009 had rocketed to more than AED37bn, from AED3.3bn in 2008.
During the year, Aabar also acquired Swiss Private Bank AIG and renamed it Falcon Private Bank and has also invested in Banco Santander, Brazil.
Original Posting At: ArabianBusiness
In a statement posted on the website of the Abu Dhabi Securities Exchange, the company, which holds a 9.1 percent stake in Daimler, said net profit rose from AED721.6 million in the previous year.
It added that total assets at the end of 2009 had rocketed to more than AED37bn, from AED3.3bn in 2008.
During the year, Aabar also acquired Swiss Private Bank AIG and renamed it Falcon Private Bank and has also invested in Banco Santander, Brazil.
Original Posting At: ArabianBusiness
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