National Bonds sees 15% growth in 2022, investment portfolio rises to Dhs13.7bn

National Bonds witnessed a strong year rising to an investment portfolio of Dhs13.7bn ($3.7 billion) in 2022 – 15 per cent higher compared to the previous year.

Its growth in 2022 covered both individuals and institutions and the remarkable returns that were given to bondholders.

National Bonds said that returns were up to 5 per cent in 2022.

Sixty-two per cent of customers have been with National Bonds for over 10 years, which significantly contributed to the 15 per cent growth in 2022.

In addition, the organisation’s rewards programme is the largest in the country, with a significant Dhs35m in prizes, further rewarding customers on their savings behaviour.

For example, 66 per cent of National Bonds’ regular savers saw an increase in their average returns in addition to the profit in 2022.

National bonds: Growth drivers in 2022

The strong growth in 2022 was attributed to several innovative ideas and solutions, such as the Golden Pension Plan, Global Savings Club, and Sukuk Al Waqf.

The Golden Pension Plan saw a positive interaction and growing wholesale trend reflected through the demand by employers to register employees, as more than 10,000 employees have been enrolled in the programme currently.

Khalifa Al Daboos, the company’s chairman, said: “During 2022, National Bonds continued to attract all segments of society through the various solutions provided to them. This reinforces the confidence of our customers, stakeholders and community in National Bonds, reflecting a clear shift in mindsets regarding the saving habit. The outcomes have also shown resilience post-Covid-19 pandemic and its worldwide economic consequences. It is gratifying that we maintained a track record of continuous growth since 2006.”

“National Bonds has remained steadfast in its commitment to provide its customers with diversified plans, serving and guiding their goals for better financial stability, witnessed by our results in 2022. National Bonds will remain a major contributor to the happiness and prosperity of its customers in the UAE, through our constant and innovative saving solutions, helping secure the future of savers and their families alike,” he added.

“The growth in savings, during the last years, has demonstrated a remarkable shift in the culture of saving to become a daily practice, with more than 196 thousand transactions made so far,” he said.

Congratulating all savers in 2022,  the company’s group CEO, Mohammed Qasim Al Ali, said: “Our organisation has encouraged savings behaviour through flexible solutions and rewards.”

“There is a strong demand in the market for flexible digital saving programmes. Therefore, we continue to develop more innovative solutions in 2023, such as Level Up and Second Salary.”

الاحتفاظ بمبلغ مادي لحالات الطوارئ أو الأحداث الغير متوقعة سيساعدكم على تجنب استخدام بطاقات الائتمان أو القروض التي يمكن أن تتحول إلى ديون.#الصكوك_الوطنية #الادخار pic.twitter.com/adtqFsy3Hr

— National Bonds (@NationalBonds) February 13, 2023

Al Ali added: “These solutions will encourage consistent saving habits and improve our customers’ experience, UAE Nationals and residents alike, to set their future plans with us. Our growing and sustainable solutions support our customers’ preparations for emergencies and subsequently their comfortable retirement.”

“I’m also pleased to mention that we have proven to boost inclusivity where the women segment portfolio in 2022 increased by 14 per cent,” he said.

In other news, the company recently partnered with cross-border payments company, Lulu Exchange, to encourage and enable customers and employees in the UAE to start saving.

Read: UAE’s National Bonds, Lulu Exchange ink strategic agreement

The partnership will make it easier and more convenient for UAE nationals and expats to choose from National Bonds’ diversified saving solutions, as well as top up their National Bonds account, through any of the 91 Lulu Exchange branches spread across the UAE.