Dubai First UAE is the first consumer finance company of Dubai Group , a member of Dubai Holding. One of the fastest growing consumer finance businesses in the UAE, Dubai First is driven by a vision to be market leaders in the consumer finance industry in the region by 2010.
Following intensive consumer research, Dubai First was launched in April 2007 to cater to a market that was fiercely competitive but severely underserved. Dubai First has aimed to fill this gap and position itself as a customer-focused, service-oriented consumer finance player. As a key focus area, Dubai First is poised to establish a centre of multi-functional excellence in the UAE and leverage it to penetrate new markets.
Dubai First has a strong, multi-cultural workforce of more than 600 professionals, working together to support the company’s strong growth in the consumer finance domain.
Dubai First works in synergy with other Dubai Holding companies as well as government agencies to jointly provide enhanced services and benefits to their common customers. The long-term strategy of Dubai First is to build a strong portfolio of customers and drive its brand image to be the benchmark for service excellence in the region.
Network Dubai First currently operates three branches in Dubai, Sharjah and Abu Dhabi. Through partnerships with leading organisations such as Al Fardan Exchange, Enoc/Eppco service stations, Al Ansari Exchange and others, the company has 300 plus payment locations across the UAE.
Financials Dubai First UAE has a paid up capital of AED 350 million. At the end of May 2008, customer receivables were recorded at AED 700 million. This figure is expected to rise to AED 1.2 billion by December 2008.
At the time of launch, Dubai First had acquired Dubai Bank’s credit card portfolio of 80,000 cards and an asset book of AED 180 million. As a testament of its success, in just one year, the credit card portfolio now encompasses over 130,000 cards and is set to reach even greater heights going forward.
Ownership Dubai First UAE is 100% owned by Dubai Financial Group – the financial holding company of Dubai Group. Furthering Dubai Holding’s ethos of ‘For the good of tomorrow’, Dubai First is eager to surge ahead parallel with the growth and international stature of Dubai and the UAE.