Waha Capital posts Dh297m profit in first 9 months of 2021

Waha Capital, an Abu Dhabi-listed investment management company, has reported a strong increase in nine-month net profit, with its emerging markets credit and equity funds continuing to provide robust returns despite volatility in global capital markets.

The Abu Dhabi-based company recorded a net profit of Dh297 million in the first nine months of 2021, compared to a net profit of Dh59 million in the same period of 2020. Net profit for the third quarter stood at Dh32 million. The company also maintained an efficient operating model, with a cost to income ratio of 24.5 per cent for the trailing 12-months.

The Public Markets business, which manages emerging markets credit and equity funds, reported investment gains and fee income of Dh429 million in the nine-month period. The Private Investments business produced a net income of Dh1 million, with the global pandemic and market volatility impacting certain sectors within the portfolio.

“Waha Capital has continued to develop a world-class investment management business, despite a challenging global operating environment this past year, marked by the lingering impact of the pandemic on many economic sectors,” said Waleed Al Mokarrab Al Muhairi, chairman of Waha Capital.

He said the company benefits from a strong balance sheet and a robust governance structure that provides confidence not only to shareholders but also to business partners, and third-party investors.

— muzaffarrizvi@khaleejtimes.com