the UAE company, Shuaa Capital, turned profitable to profit of 267 million dirhams during the second quarter, compared to a loss of 41 million dirhams in the corresponding quarter of 2019.
According to CNBC Arabia, the semi-annual profit was 5 million dirhams, compared to a semi-annual loss of 50 million in 2019.
quarter-on-quarter operating profit grew by 19% to reach AED 86 million during the second quarter of 2020.
The volume of assets under management rose to $ 13 billion during the second quarter.
For its part, the company announced the implementation of its long-term plan that includes achieving a return on shareholders' equity in excess of 15%, recording a cost-to-income ratio of less than 60% and achieving a financing ratio less than The 60%.
(Amazon fun knowledge)
