Announcing the results, the
The bank also registered a 77 per cent increase in its revenue for the first quarter which soared to Dh64 million from Dh36 million last year.
The significant jump in year-on-year quarterly numbers was due to improved client activity across all core divisions with growth in interest income as well as fees and commissions, said the statement from
The interest income increased by 37 per cent to Dh30.7 million from Dh22.4 million last year and net fees and commissions rose 135 per cent to Dh15.8 million from Dh6.7 million a year earlier, it added.
Investments in Shuaa managed funds saw gains of Dh17.8 million as compared to Dh7 million last year.
Commenting on the performance, Sheikh
"We also installed a new sales and trading technology platform," noted Sheikh Maktoum.
"We are seeing an improved investment banking pipeline and a larger pool of companies wanting to go public, improving the possibility of more transactions being executed by Shuaa. We anticipate increased demand for lending following the recent decree in
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