Shuaa’s profits triple in fourth quarter as revenues rise – The National

Shuaa’s profits triple in fourth quarter as revenues rise – The National

Net profit reached Dh73m in the fourth quarter compared to Dh22m during the third quarter of 2019. Dubai investment bank Shuaa Capital's profits more than tripled in the fourth quarter over the third quarter due to higher revenues.. Net profit attributable to the shareholders for the period ending December 31 reached Dh73 million compared to Dh22m during the third quarter of 2019, the company said in a statement on Thursday.. Group Ebitda for the quarter amounted to Dh134m compared with Dh63m in the third quarter of 2019.. For the full year, the company reported a profit of Dh45m.. The company is currently focusing on growing and expanding its asset management and investment banking platform and is selling its non-core assets.. The group's asset management business is maintaining its growth trajectory.. A recent deal to manage $400m (Dh1.47 billion) portfolio of assets helped increase the total group assets under management to $14bn, up 15 per cent year-on-year.. During the past 12 months, the group has been mandated to lead over $500m in sukuk issues, including GFH Financial Group's $300m five-year sukuk, Jabal Omar Development Company's $135m five-year sukuk and The First Group's $135m sukuk..