Investment bank Shuaa Capital SHUA.DU on Wednesday swung to a third-quarter profit, buoyed by gains in its investment banking business.
Shuaa posted a profit of 0.2 million dirhams in the three months to Sept. 30, up from a loss of 269.26 million dirhams in the same period last year.
The company, one of the Gulf Arab region's largest investment banks, was hit hard by the global financial downturn as impairments related to troubled assets erased profits."
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