- FY 2021 net profit reached an all-time high of AED 56.2 million compared to
- Operating profit in 2021 reached AED 45.7 million
The 15-year private joint stock company, Reem Finance, was able to navigate successfully through Covid-19, attaining successful financial results, reserving its place among market leaders in specialized commercial lending and financing companies in the United Arab Emirates.
Reem Finance announced the audited annual results for FY 21, proving exceptional ability in sustaining values of business excellence, agility, transparency, and high returns for its diversified client base. This was due to a strategy revolving around vigilant quality deployment, aggressive recoveries, liability and liquidity position enhancement while being conscious of cost efficiency.
Total revenue reached AED 65 million for FY 2021, (FY 2020 revenue being AED 14.9 million). This exponential propulsion in revenue was primarily due to select and strategic deployments in tandem with fast-paced and highly incentivized collection and recovery efforts. The company has a strong capitalization with CAR of 57.4%. Total net equity stands at AED 300 million.
Mr. Seraj Faidi, Chief Executive Officer of Reem Finance stated: “While navigating through bleak economic uncertainties owing to the Covid-19 pandemic seemed insurmountable, I am proud to announce that the 15th anniversary of Reem Finance brought with it unprecedented financial growth owing to sheer grit, diligence, and our absolute focus on customer satisfaction. Due to the agility and vigorous efforts of our team, we were able not only to remain steadfast in focusing on prudent cost management faculties and robust capitalization, but to launch new products allowing us to reach various clientele in the society of the United Arab Emirates. Reem Finance will be launching more new and unique programmes in the coming period, with an increased focus on added value and enhanced customer experience."
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