Shuaa Capital wrote another loss for the third quarter after setting aside Dh260 million (US$70.7m) in charges for investments in associated companies, some of which are marked for sale.
The impairment charges, plus another Dh42.5m in provisions, left Shuaa with a Dh269.7m loss for the September quarter.
The 30-year-old bank, based in Dubai, has had a challenging nine months that saw it cede a 48 per cent stake to the government-owned Dubai Banking Group and become involved in a bitter legal battle with Dubai World, the emirate’s investment arm.
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