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Shuaa Capital annual loss widens to $80m

Dubai, February 13, 2012

Shuaa Capital, which has been hit by slumping global markets, reported a wider 2011 loss on Monday as the investment bank booked provisions and one-off charges.

Shuaa said it had a net loss of 293.8 million dirhams ($80 million)for 2011, compared to a net loss of 223.7 million dirhams a year earlier.

Total revenue for 2011 was 99.2 million dirhams, down from 188.4 million dirhams in 2010.  Shuaa said it took provisions and one-off charges of 136.3 million dirhams in 2011.  - Reuters




Tags: banking | Dubai | Shuaa capital |

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