Khaleej Times, Sun, Apr 07, 2024 | Ramadan 28, 1445
UAE: National Bonds announces highest-ever return on savings in 2023
Emirates:
National Bonds on Tuesday announced returns of up to 5.84 per cent on saving
bonds for 2023 — the highest amount offered by the savings and investment firm
in its history.
During a Press conference on Tuesday, the company said it offered an average of
4.2 per cent return to its investors for 2023.
Residents investing Dh1 million-plus in saving bonds received 5.84 per cent
returns while those who have investments between Dh350,000 and Dh1 million
received 4.22 per cent.
The investment portfolio of National Bonds crossed Dh14 billion and distributed
Dh2.9 billion in profit payouts and prizes as of December 2023.
The company also reported a 215-per-cent increase in new savers in 2023 as
compared to the previous year.
On March 27, National Bonds launched the “Eibor Plus” scheme which tracks the
Emirates Interbank Offered Rate (Eibor), providing investors with an expected
return of 0.5 per cent above the benchmark’s performance on an annual basis.
A minimum investment of Dh25,000 grants investors entry into the programme, with
the flexibility to choose their preferred Eibor-linked Term Sukuk ranging from 6
to 36 months.
The investment firm has the highest exposure to fixed-income assets (43 per
cent), followed by real estate (26 per cent), money markets (19 per cent),
listed equities (11 per cent) and alternatives (1 per cent). It has the highest
investments in UAE at 55 per cent followed by 33 per cent in international
markets and 12 per cent in GCC (excluding UAE).
“As we look forward, National Bonds stands ready to seize upon the momentum
generated in 2023. This momentum, coupled with the ambitious economic
initiatives undertaken by the UAE’s visionary leadership, sets the stage for
further growth. We are poised to capitalise on this opportunity, leveraging our
expertise and resources, to continue delivering unparalleled value and financial
stability to our customers,” said Khalifa Al Daboos, chairman of National Bonds.
“We are confident that our dynamic range of evolving programmes, rewarding
prizes, and financial literacy efforts will empower individuals and
organisations towards a more robust financial trajectory. Looking ahead, as the
UAE pursues its ambitious economic goals, National Bonds is poised to play a
pivotal role in promoting greater financial awareness and better retirement
planning,” said Mohammed Qasim Al Ali, Group CEO of National Bonds.