Shuaa Capital, the Dubai-based investment bank, reported a third-quarter net profit on Wednesday driven by growth in its core asset management and lending business.
Shuaa made a net profit of 3.6 million dirhams ($980,100) in the third quarter compared with a loss of $3.78m in the corresponding period in 2012.
Revenue for the quarter was $14.92m, up 57 percent from $9.5m in the prior year period.
Also Read
-
Dubai's Shuaa appoints chairman of Saudi Arabia division
Shuaa Capital has named Kamel Almunajjed as chairman of its Saudi Arabia subsidiary, the Dubai-based investment bank's latest senior appointment as it ... Banking & Finance -
UAE’s Shuaa targets Islamic credit business in Saudi Arabia
Investment bank Shuaa Capital , hard hit by the global financial crisis, plans to provide shariah-compliant lending to businesses in Saudi Arabia as ... News -
London aims to ‘stand alongside Dubai’ as Islamic finance hub
The British Prime Minister David Cameron wants London to ‘stand alongside Dubai’ as an Islamic finance hub, and is today expected to ... Banking & Finance
