The investment and finance firms listed on local capital markets saw their profits jump to around AED885 million during Q2-2020 from as little as AED13 million only in the comparable period last year, according to the figures released by these companies recently.
The growth secured by these companies is driven by the steady performance witnessed by the local stock markets which factored into boosting the returns of the investment and financial services sector in general.
There are six financial and investment firms listed on the Abu Dhabi Securities Exchange and five on the Dubai Financial Market, with the latter having seen its firms record net Q2 profits of AED575 million, a growth of 323.4 percent over the same period last year. Six companies listed on ADX reported AED310 million during the same period.
Shuaa Capital is the best performer with net profits of AED266.8 million in the reference period.
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