Shuaa's profits triple in fourth quarter as revenues rise - The National:
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.
The investment bank did not provide year-on-year figures for its profitability. Revenues during the period jumped 63 per cent to Dh146m, driven by a number of significant transactions that closed in the final quarter.
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.
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