UAE – Mubasher: The net profits of Reem Finance reached AED 26.5 million in 2019, up from AED 3 million in 2018, as shown by the company's audited financial results for 2019.
The company’s net operating revenues surged by 217% year-on-year (YoY) to AED 50.7 million during the last year, versus AED 15.9 million in 2018, according to a press release on Wednesday.
Meanwhile, the company's capital ratio stands at 53.2%, which is more than the minimum regulatory requirement of 15%.
Commenting on the company's performance, the General Manager of Reem Finance, Seraj Faidi, said: "Driven by our solid balance sheet, high profitability and unique agility, we will continue to support our clients in achieving their financial goals and contribute to economic growth."
