Capinnova announces third quarter results

18 Dec 2009

Click here for the Financial Statement

Capinnova Investment Bank, the Shari’a compliant investment banking arm and fully owned subsidiary of BBK, has reported a net loss for this quarter of US$ 1.1 million as compared to US$ 757k during 2008 and gross revenue of US$ 653k for third quarter of 2009 in comparison to US$ 71k from same quarter last year.

The net loss reported for the 9 month ended September 2009 was US$ 3.6 million as compared to US$ 1.5 million during 2008. The gross revenue for the period increased to US$ 2.2 million as compared to US$ 302k for 2008.

Capinnova is a newly established investment bank which started its operation at the beginning of this year with an authorized capital of US$ 500 million and paid-up capital of US$ 125 million. The net loss reported was due to the start up and initial operating costs.

Capinnova aims to provide quality investment products and innovative solutions to companies, financial institutions and high net worth individuals.

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