Shuaa Capital recorded the highest profits for 10 years, reaching AED 25 million during the first quarter of 2021, compared to losses of AED 262 million in the first quarter of 2020.
According to Arab Net, the company has become transformed by profitability to higher revenue by 132% on an annual basis to AED 45 million in the first quarter of 2021.
The liquidity sector achieved record revenues during the first quarter due to exit from low-profit activities.
In an interview with Arab, Jassim al-Siddiqi, chief executive of the Shuaa Capital group, said good qualified performance was supported by the company's asset management platforms.
"We have recently recently on continuity and increase the momentum of the asset management platform, and we see today's interest rate after Abu Dhabi Financial and radio.
He added that the returns amounted to AED 102 million at an increase of 42% compared to last year, driven by strong performance of repeated income, while operational profit has also increased more than 2020.
Continue: The cost adjustment with a cost rate reaching 55% for the first quarter of this year has also affected results.
Chief Executive Officer said they would continue the same strategy after integrating integration with Abu Dhabi Financial, focusing on the asset management and investment sector in which the company completed many deals since the beginning of the year.
According to the focus in the UAE, Saudi Arabia and Kuwait through a funds platform along with Britain, but the UAE is accompanied by the company's attribute, under the company's expectations towards a bright future with the recovery of economic activity in Dubai, and the arrival of UAE vaccination to developed worlds Open the economy at a faster pace.
He added: We see the appetite of investors in real estate, stocks and different investment products.
