PHOTO
UAE banking sector continued its growth momentum last year and is poised for further growth and recovery in 2024, thanks to the success of the Central Bank of the UAE's (CBUAE) strategies. Image courtesy: WAM
Abu Dhabi investment management firm Waha Capital has more than doubled its Q1 net profit attributable to shareholders to AED 166 million ($45.2 million).
Its private investments business recorded AED 37 million in net profit, supported by mark-to-market gains on certain portfolio assets, the company said on on Wednesday.
Total assets under management stood at AED 11.1 billion, an increase of 5.7% from AED 10.5 billion at the end of 2023. Net operating income increased by 73% to AED 418 million.
Shareholders of the company had approved in March a cash dividend of 10 fils per share, which included a 1.5 fils per share special dividend for the 2023 financial year.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
