$12m total income for Seera Investment Bank
Seera Investment Bank yesterday reported a total income of more than $12 million for last year. Net profit for the year was approximately $7m. Chief executive Abdulla Janahi said Seera's existing investments continued to generate income for the bank, and income realised during the year was primarily from recurring revenues from these investments including lease rentals and investment and management fees. Market conditions remain challenging and a quick turnaround appears unlikely he added.