SAUDI ARABIA: Yaqeen Capital reported a 74.13% rise in gross profit to SAR28.8 million (US$7.68 million) for the year ended the 31st December 2024 from SAR16.54 million (US$4.41 million) before – buoyed by the increased pipeline of successful IPOs plus higher special commissions from Murabahah deals. Revenue rose 15% to SAR89.48 million (US$23.86 million) – with investment banking advisory services income up 35%, commission on brokerage services up 28% from the increase in margin lending and 38% higher management and subscription fees from mutual funds. Net profit was 43.83% lower due to skewing from a higher income with a June 2023 building sale.
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