UAE SHUAA Capital revenues to increase at USD 48.5mn
14 Feb 2016
(MENAFN) SHUAA Capital’s incomes for the whole year touched USD 48.5mn compared to USD 58.1mn in 2014, and the Co. recorded total loss of USD 51.79mn.
Furthermore, for Q4 of 2015, the firm reported revenues of USD 10.91mn, introducing a 58 percent grow compared to USD 6.91mn in Q4 of 2014.
However, the difficult market situations trailed by the decline in oil prices, global economic instability and political uncertainty in the area seen over the course of 2015.
In addition, the majority of the loss registered in 2015 referred to Gulf Finance, the SME Lending business, which set aside provisions of USD 42.07mn against bad loans.