Shuaa Capital reports a loss hurt by provisioning in SME unit
Shuaa Capital reported a loss of AED162 million for 4Q2015 versus a loss of AED14.8 million a year ago. The company reported a loss of AED190 million for 2015 compared to a profit of AED26 million in 2014. The company said that the majority of the loss in 2015 is attributable to Gulf Finance, the SME lending business, which set aside provisions of AED155 million against bad loans. (Bloomberg)
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