{"id":4128,"date":"2023-09-04T09:26:37","date_gmt":"2023-09-04T09:26:37","guid":{"rendered":"https:\/\/reemfinance.maximawebsites.com\/?p=4128"},"modified":"2025-07-02T06:16:59","modified_gmt":"2025-07-02T06:16:59","slug":"reem-finance-records-aed-26-5-million-in-net-profit-for-the-financial-year-2019","status":"publish","type":"post","link":"https:\/\/reemfinance.ae\/ar\/reem-finance-records-aed-26-5-million-in-net-profit-for-the-financial-year-2019\/","title":{"rendered":"Reem Finance records <span class='aed'>AED<\/span> 26.5 million in net profit for the financial year 2019"},"content":{"rendered":"<ul>\n<li>Net operating revenues increased by over 200% year-on-year and total income surpassed <span class=\"aed\">AED<\/span> 78.6 million.<\/li>\n<li>Net operating profit before impairment grew to <span class=\"aed\">AED<\/span> 35 million in FY 2019.<\/li>\n<li>Cost efficiency improved by 34% and the NPL ratio improved by 27% compared with 2018.<\/li>\n<\/ul>\n<p>Reem Finance, the private joint stock company established in Abu Dhabi in 2007 and regulated by the UAE Central Bank, and focused on innovative commercial financing, announced its consolidated audited financial results for the fiscal year ending 31 December 2019.<\/p>\n<p>Reem Finance\u2019s audited annual results for 2019 highlighted the company\u2019s solid performance. The annual financial statements showed the company\u2019s ability to realize ongoing growth in revenues and net profits and deliver a strong balance sheet despite market uncertainty and challenging conditions.<\/p>\n<h3>Profitability and cost efficiency<\/h3>\n<p>Reem Finance reported a net profit for fiscal year 2019 of <span class=\"aed\">AED<\/span> 26.5 million, a significant increase compared with 2018\u2019s <span class=\"aed\">AED<\/span> 3 million, while its net operating profit before impairment grew to <span class=\"aed\">AED<\/span> 35 million. The company\u2019s net operating revenues increased 217% year-on-year to <span class=\"aed\">AED<\/span> 50.7 million (<span class=\"aed\">AED<\/span> 15.9 million in 2018), while total income surpassed <span class=\"aed\">AED<\/span> 78.6 million, up 82% compared with 2018.<\/p>\n<h3>Strong capital ratios<\/h3>\n<p>Capital ratios also remained strong, with Reem\u2019s robust capital adequacy ratio of 53.2% aggressively surpassing the minimum regulatory requirement of 15%.<\/p>\n<h3>Seraj Faidi, General Manager of Reem Finance<\/h3>\n<p>, said:\u00a0<em>\u201cWe showcased exceptional ability to drive operational excellence and significantly improve our activities and financial performance in 2019. 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. Our focus on creating sustainable value and high returns for our diversified client base and distinguished shareholders makes us confident in our ability to build more creative products &amp; tie-ups to add value to our customers while maintaining profitability and achieve our growth targets, despite these challenging times.\u201d<\/em><\/p>","protected":false},"excerpt":{"rendered":"<p>Net operating revenues increased by over 200% year-on-year and total income surpassed AED 78.6 million. Net operating profit before impairment grew to AED 35 million in FY 2019. Cost efficiency improved by 34% and the NPL ratio improved by 27% compared with 2018. Reem Finance, the private joint stock company established in Abu Dhabi in [&hellip;]<\/p>","protected":false},"author":2,"featured_media":5064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Reem Finance records AED 26.5 million in net profit for the financial year 2019 - Reem Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reemfinance.ae\/ar\/reem-finance-records-aed-26-5-million-in-net-profit-for-the-financial-year-2019\/\" \/>\n<meta property=\"og:locale\" content=\"ar_AR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reem Finance records AED 26.5 million in net profit for the financial year 2019 - Reem Finance\" \/>\n<meta property=\"og:description\" content=\"Net operating revenues increased by over 200% year-on-year and total income surpassed AED 78.6 million. Net operating profit before impairment grew to AED 35 million in FY 2019. Cost efficiency improved by 34% and the NPL ratio improved by 27% compared with 2018. 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