Reem Finance profit hits all-time high of Dh56.2m in 2021. Total revenue reaches Dh65 million for FY 2021, a 436% increase from FY 2020.
04 May 2022, 12:00 AM
31 May 2022, 12:00 AM
Reem Finance was able to navigate successfully through Covid-19, attaining successful financial results.
The company announced the audited annual results for FY 21 on Saturday, proving exceptional ability in sustaining values of business excellence, agility, transparency, and high returns for its diversified client base.
Total revenue reached Dh65 million for FY 2021, (FY 2020 revenue being Dh14.9 million). This exponential propulsion in revenue was primarily due to select and strategic deployments in tandem with fast-paced and highly incentivised collection and recovery efforts.
The company has a strong capitalisation with CAR of 57.4 per cent. The total net equity stands at Dh300 million with net profit reaching an all-time high of Dh56.2 million in FY 2021 and operating profit at Dh45.7 million.