{"id":4133,"date":"2023-09-04T09:15:56","date_gmt":"2023-09-04T09:15:56","guid":{"rendered":"https:\/\/reemfinance.maximawebsites.com\/?p=4133"},"modified":"2023-12-22T06:18:12","modified_gmt":"2023-12-22T06:18:12","slug":"reem-finance-profit-leaps-in-2016-on-successful-turnaround-strategy-you-are-here","status":"publish","type":"post","link":"https:\/\/reemfinance.ae\/ar\/reem-finance-profit-leaps-in-2016-on-successful-turnaround-strategy-you-are-here\/","title":{"rendered":"Reem Finance profit leaps in 2016 on successful turnaround strategy You are here:"},"content":{"rendered":"<h2><strong>Reem Finance profit leaps in 2016 on successful turnaround strategy<\/strong><\/h2>\n<ul>\n<li><em>Total Net Profit grew to AED 55.5 million, following an AED 8.6 million loss in 2015<\/em><\/li>\n<li><em>Cash dividend payout of 10 per cent of paid-up capital<\/em><\/li>\n<\/ul>\n<p><strong>Abu Dhabi, 23 March 2017<\/strong>: Reem Finance P.J.S.C (Reem), the Abu Dhabi headquartered provider of credit and finance solutions to businesses across the UAE, today announced a Total Net Profit of AED 55.5 million for financial year 2016, following a loss of AED 8.6 million the previous year.<\/p>\n<p>Reem\u2019s return to profitability was achieved through a strategic focus on specialised corporate and trade finance lending. Gross loans and advances increased to AED 276 million as of 31 December 2016, 46% higher than the previous year. Investments in fixed income securities, listed equity and private equity grew to AED 225 million in 2016, a 76% increase year-on year. Net Operating Income rose to AED 89 million, which is an increase of 196% during the same period.<\/p>\n<p>A cash dividend payout of 10 per cent of paid-up capital, which equals AED 0.1 per share, was also approved at the firm\u2019s Annual General Meeting held on Sunday 19<sup>16<\/sup>\u00a0March.<\/p>\n<p>Performance in 2016 was aided by significant recoveries from non-performing loans (NPLs) which despite a challenging market, saw a 58% reduction in provisions from AED 19 million in 2015 to AED 8 million in 2016.<\/p>\n<p>Reem delivered a 13% return on equity to its shareholders in 2016, compared to a negative return of on equity of 2.3% in 2015.<\/p>\n<p>Speaking at the company\u2019s AGM Dr Saleh Al Hashemi, Chairman of Reem Finance, said: \u201cI am delighted with the company\u2019s performance in 2016. This has been testament to the energy, hard work and drive of the team underpinned by a clear focus on delivering our core proposition \u2013 fast, flexible and convenient financing solutions for our clients.<\/p>\n<ul>\n<li><a href=\"http:\/\/www.medytox.com\/-\/sweet-bonanza-slot-hoki\/\">http:\/\/www.medytox.com\/-\/sweet-bonanza-slot-hoki<\/a><\/li>\n<li><a href=\"https:\/\/aps.edu.pk\/-\/situs-slot-deposit-pulsa\/\">https:\/\/aps.edu.pk\/-\/situs-slot-deposit-pulsa\/<\/a><\/li>\n<li><a href=\"https:\/\/bamboauniformes.com.br\/-\/rtp-slot\/\">https:\/\/bamboauniformes.com.br\/-\/rtp-slot\/<\/a><\/li>\n<li><a href=\"https:\/\/www.militarycollege.edu.pk\/mcj\/-\/situs-slot-tanpa-potongan\/\">https:\/\/www.militarycollege.edu.pk\/mcj\/-\/situs-slot-tanpa-potongan\/<\/a><\/li>\n<li><a href=\"https:\/\/aapibusinessexpo.com\/-\/link-slot-terpercaya\/\">https:\/\/aapibusinessexpo.com\/-\/link-slot-terpercaya\/<\/a><\/li>\n<\/ul>","protected":false},"excerpt":{"rendered":"<p>Reem Finance profit leaps in 2016 on successful turnaround strategy Total Net Profit grew to AED 55.5 million, following an AED 8.6 million loss in 2015 Cash dividend payout of 10 per cent of paid-up capital Abu Dhabi, 23 March 2017: Reem Finance P.J.S.C (Reem), the Abu Dhabi headquartered provider of credit and finance solutions [&hellip;]<\/p>","protected":false},"author":1,"featured_media":5064,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4133","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 - 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