{"id":89414,"date":"2024-02-26T00:00:00","date_gmt":"2024-02-26T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/earnings-season-isnt-over-yet\/"},"modified":"2024-02-26T00:00:00","modified_gmt":"2024-02-26T00:00:00","slug":"earnings-season-isnt-over-yet","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/02\/26\/earnings-season-isnt-over-yet\/","title":{"rendered":"Earnings season isn\u2019t over yet"},"content":{"rendered":"

Standard Chartered Bank UAE\u2019s net income before tax <\/strong>rose<\/strong> 26.4% y-o-y to USD 421 mn in <\/strong>2023<\/strong>, according to its financial statements (pdf)<\/a>. Operating income rose 27.9% y-o-y to USD 794 mn during the year. Total assets the bank manages in the country stood at USD 20.37 bn during the year. <\/p>\n

In 4Q:<\/strong> The bank recorded a net income of USD 87 mn in the UAE in 4Q 2023, up 16% y-o-y. Operating income stood at USD 182 mn during the quarter, up 2.8% y-o-y.<\/p>\n

\n

OTHER EARNINGS-<\/p>\n

Umm Al Qaiwain General Investments<\/a><\/strong>\u2019s bottom line fell 45.5% y-o-y to AED <\/strong>27 mn in <\/strong>2023<\/strong>,according to the company\u2019s financial results (pdf)<\/a>. The company attributes the decline to an AED 8.5 mn decrease in booked unrealized income last year, in addition to AED 11 mn sold in shares in 2022. The investment firm proposed paying out some AED 21.8 mn in dividends. <\/p>\n

bu Dhabi-based investor <\/strong>Sawaeed Holding<\/a><\/strong> turned to the black in 2023 with a <\/strong>bottom line of <\/strong>AED <\/strong>6.4 mn<\/strong>,up from a net loss of AED 15.6 mn in the previous year, according to the company\u2019s preliminary results (pdf)<\/a>. The company\u2019s revenues grew 13.9% y-o-y to reach AED 139.8 mn during the period.<\/p>\n","protected":false},"excerpt":{"rendered":"

2023 financials from Standard Chartered UAE, QIC, and Sawaeed Holding<\/p>\n","protected":false},"author":1,"featured_media":89415,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[237,7,947,945,946],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings-watch","tag-enterpriseam-uae","tag-sawaeed-holding","tag-standard-chartered","tag-umm-al-qaiwain-general-investments","wpautop","entry"],"acf":{"mongo_id":"3e6b9fb9-964c-4d19-99a5-9a73676b3978","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/2432.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Standard Chartered UAE + others report 2023 results","related_issue":[89399],"teaser":"2023 financials from Standard Chartered UAE, QIC, and Sawaeed Holding","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.3dd45569-752b-408b-b641-48b71b06db22.mp3"},"yoast_head":"\nEarnings season isn\u2019t over yet - 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