Second-quarter profit quadruples for Dubai’s Shuaa Capital | The National:
"Shuaa Capital, Dubai’s oldest investment bank, said its second quarter profit more than quadrupled as it continued to benefit from a revival in the country’s capital markets following years of stagnation in the aftermath of the 2008 financial crisis.
Net income advanced for the fifth straight quarter to Dh6.2 million from Dh1.3m in the same period last year, Shuaa said. Revenue increased to Dh52m from Dh43.4m. Those gains were mostly bolstered by the firm’s asset management, investment banking and lending divisions.
On the Dubai Financial Market yesterday, Shuaa shares gained 7.4 per cent, or 9 fils, to close at Dh1.30 each. Volume was heavy at 4.97m shares."
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