shuaa capital reports 42 jump in total revenues
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

SHUAA Capital reports 42% jump in total revenues

Arab Today, arab today

Arab Today, arab today SHUAA Capital reports 42% jump in total revenues

SHUAA Capital reports that its third quarter revenues totaled AED48.7 million, a 42 percent increase on Q3 2015 when total revenues were AED34.3 million. Announcing its financial results for the third quarter ended Sept. 30, 2016
Riyadh - Arab Today

SHUAA Capital stated that its net loss was AED35.3 million for the quarter as compared to net loss of AED28.6 million in the corresponding quarter of 2015; non-lending business lines — investment banking, asset management and capital markets — recorded a consolidated net profit of AED3.3 million. The group’s lending business recorded provisions of AED46.3 million as against AED18.1 million in Q3 2015.
Net fees and commissions were up 52 percent to AED13.9 million (AED9.2 million in Q3 2015). 
Total interest income was lower at AED35.1 million (AED42.1 million in Q3 2015), while ongoing control over general and administrative expenses maintained Q3 2015 levels at AED32 million, and in spite of a series of new appointments across the firm. 
Group’s total expenses were AED87.3 million as against AED61.5 million in Q3 2015, mainly due to a rise in lending related provisions for small and medium enterprises (SMEs).
While total revenues for the nine-month period ended Sept. 30, 2016 edged up slightly to AED138.7 million as against AED138.1 million in 2015, net loss for the nine-month period was AED113.6 million as against AED28.6 million in 2015.
Abdul Rahman Hareb Rashed Al-Hareb, chairman of SHUAA Capital, commented: “As volatility across regional markets persists, we remain focused on our strategy of realigning and strengthening our business lines through product diversification and the appointment of revenue-driving staff. And while we are beginning to see positive results of this strategy on our core revenue lines, there continues to be stress on our lending division.” 
Al-Hareb added: “I would also like to emphasize our strong business model in the Saudi market. The first of three hospitality projects were recently completed and handed over for operations, thus marking a significant milestone since the firm’s foray into the Kingdom. Saudi Arabia remains a vital market for us, and we will continue to pursue strategic growth opportunities there alongside our partners.”

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

shuaa capital reports 42 jump in total revenues shuaa capital reports 42 jump in total revenues

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

shuaa capital reports 42 jump in total revenues shuaa capital reports 42 jump in total revenues

 



GMT 13:49 2017 Thursday ,08 June

Boko Haram kills 11 in NE Nigeria attacks: police

GMT 09:08 2017 Monday ,11 September

Palestinian court grants bail to prominent activist

GMT 00:06 2018 Wednesday ,24 January

Emirates signs agreement for 36 additional A380s

GMT 09:59 2018 Wednesday ,10 January

Pakistan reiterates solidarity with Saudi Arabia

GMT 23:01 2016 Wednesday ,30 November

21 killed in artillery shelling of eastern Aleppo

GMT 09:22 2016 Monday ,10 October

US troops in Kuwait came under 'suicide' attack

GMT 21:14 2017 Tuesday ,21 February

Tatas will lead, not follow

GMT 11:24 2017 Wednesday ,15 February

ISIS kidnapped 16 civilians from Anbar

GMT 19:30 2018 Wednesday ,31 October

King congratulates Antigua and Barbuda Governor-General

GMT 00:05 2017 Thursday ,28 December

Guterres extends mandate of UN-backed Lebanon tribunal
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday