Dubai-based investment bank Shuaa Capital will focus more on growing its lending business as part of a new strategy aimed at turning around losses which have mounted since the global financial crisis.
Shuaa, which has had three chief executives in the past year, expects to deploy half its balance sheet in the Shuaa Credit business by 2013, as it seeks to provide capital to the region's growing private sector, its executive chairman said on Wednesday.
The bank, which also runs an asset management division, is hoping that the strategy shift will return the bank to "positive territory" in 2013 and consistent profitability thereafter. It expects a loss in 2012.
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