Waha Capital in the UAE announced a drop in its quarterly profit for the third quarter of 63% to 32 million dirhams, explaining that this decrease is due to Net profit decreased by 30%.
General and administrative expenses increased by 7.5% to 58 million dirhams.
The company’s net profit in the first nine months of questyear was 297 million dirham compared to 59 million dirhams for the same period in 2020.
Waha Capital has maintained the efficiency of its operations, which is reflected in its report cost-income, which reached 24.5% in the last twelve months.
The Public Markets unit, which manages investment funds in emerging market equity and credit instruments, generated investment income and commission income of AED 429 million in the first nine months of 2021.
As for the private investment unit, it recorded a net profit of Dh 1 million, as some sectors of its investment portfolio suffered from the continuing repercussions of the global pandemic and market fluctuations.
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