SHUAA Capital reported a net profit of AED 156 million for the full year ended 31 December 2025, marking a significant recovery from a net loss of AED 274 million in 2024. This turnaround was primarily driven by AED 199 million in non-recurring gains realized through capital optimization initiatives, despite a narrowed Q4 2025 net loss of AED 42 million.
Total operating revenue for FY 2025 reached AED 79 million, a slight 3% year-on-year decline, as strong growth in Investment Banking (up 3.4x to AED 21.9 million) and Real Estate (up 55% to AED 19.4 million) was offset by lower management fees in the Asset Management segment.
Operational efficiency improved as the Group achieved positive net operating income of AED 1.2 million, compared to a AED 2.8 million loss in 2024, supported by a workforce rationalization program that generated over AED 9 million in cost savings. The annual cost-to-income ratio subsequently improved to 99% from 103% in the prior year.
The Group significantly strengthened its balance sheet, with total equity increasing to AED 554 million from AED 41 million at year-end 2024 following the issuance of a mandatory convertible bond and a creditor settlemen
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