Reem Finance’s total revenue reachesdhs65m for FY 2021

Dubai:the15-yearprivatejointstockcompany,reem Finance, was able to navigate successfully through Covid-19,atainingsuccessfulfinancialresults,reserving its place among market leaders in specialised commercial lending and financing companies in the United Arab Emirates.

Reem Finance announced the audited annual resultsforfy21,provingexceptionalabilityinsustaining values of business excellence, agility, transparency, and high returns for its diversified client base. This was due to a strategy revolving around vigilant quality deployment, aggressive recoveries, liability and liquidity position enhancement while being conscious of cost efficiency.

Total revenue reached Dhs65 million for FY 2021, (FY 2020 revenue being Dhs14.9 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. Total net equity stands at Dhs300 million.

Serajfaidi,chiefexecutiveofficerofreemfinance stated: “While navigating through bleak economic uncertaintiesowingtothecovid-19pandemicseemed insurmountable, I am proud to announce that the 15th anniversary of Reem Finance brought with it unprecedented financial growth owing to sheer grit, diligence, and our absolute focus on customer satisfaction. Due to the agility and vigorous efforts of our team, we were able not only to remain steadfast in focusing on prudent cost management faculties androbustcapitalisation,buttolaunchnewproducts allowing us to reach various clientele in the society of the United Arab Emirates.”