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FINANCIAL NEWS
Dubai’s Shuaa Capital revenue up 46.1 percent in H1
15 Jul 2014
(MENAFN) Dubai-based Shuaa Capital posted a 46.1 percent rise in the first half of the current year reaching USD31.63 million compared to the same period 2013, according to the Emirates 24/7.
The company’s net profit was estimated at USD3.919 million in the same period, which is USD5.17 million higher than the net loss it posted in the same half 2013.
All core fee and interest generating business divisions posted a net profit with significant progress coming through in asset management, investment banking and lending.
Sheikh Maktoum Hasher Al Maktoum, Executive Chairman of Shuaa Capital, said: “Shuaa has had a strong first half with continued improvement in both top and bottom line results, further supporting our return to sustained profitability. This is a result of our earlier decision to keep investing balance sheet resources into SME Lending and to position the business to capture improved capital market activity.”
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