16 June 2015
- Celebrates success as a leading regional SME financing company
- Loan book reaches over AED 900 million as at 31 March 2015
- New products and services to be launched in H2 2015
- Gulf Finance SME Sentiment Survey Q1 2015 key highlights indicates UAE SME sector feeling optimistic
Gulf Finance Corporation, a wholly-owned subsidiary of SHUAA Capital and a leading provider of finance to SME and micro businesses, has today launched its new brand logo as it looks to celebrate its success as a thriving regional SME financing company. The new brand also reflects the community for which it serves – innovative, dynamic and entrepreneurial. The Company is headquartered in Dubai and has operations in Abu Dhabi, Sharjah and the Northern Emirates, while its sister company, Gulf Finance Saudi Arabia, has offices in Jeddah and Riyadh.
David Hunt, CEO of Gulf Finance said:
“Over the last few years, we have been building a deep understanding of our customer’s needs in the SME sector, refocusing our efforts on new products, services and policies whilst maintaining our high standards of due diligence. Our new brand is a reflection of our achievements and successful transformation into a thriving regional SME financing company”.
“Our ambition over the coming years is to leverage this brand equity as we enter into new markets whilst also providing the high level of quality, customer service level and local knowledge our clients are accustomed too,” he added.
In 2014, Gulf Finance UAE and Saudi Arabia attracted 673 new clients, extending their combined loan book to AED 853.6 million. As of 31 March 2015, the loan book stands at AED 907.5 million and the Company expects to reach AED 1 billion by the end of 2015.
The Company has launched numerous products and services in the last 12 months, covering segments within the SME sector such as medical and trade finance. Gulf Finance also successfully closed a AED 500 million syndicated loan in November 2014 which has allowed it to expand the brand into new territories and increase its loan book. In addition, Gulf Finance Saudi Arabia obtained a new operating license from the Saudi Arabian Monetary Agency in the fourth quarter of 2014 allowing the Company to continue operations under the new Finance Company law.
Gulf Finance recently launched its inaugural UAE SME Sentiment Survey – Q1 2015, which highlighted six key points;
- Improved payment collection indicating strong growth in economy
- Higher orders demonstrates a much improved ‘ease of doing business’ in the UAE
- 3 in 4 planning to increase headcount; strong signal that private sector is performing well
- 9 out of 10 surveyed claim their ability to raise finance has improved
- Q2 2015 growth outlook is positive; 90% forecasts sales will grow
- 70% respondents are planning to increase their product line
The launch of the updated logo and brand identity was developed in collaboration with Start JG, a global brand consultancy.
Gulf Finance Corporation, a wholly-owned subsidiary of SHUAA Capital, is a leading business finance company that provides funding solutions to small and medium sized enterprises (SMEs) in the UAE. Gulf Finance was founded 18 years ago. It offers a broad range of funding solutions such as small business loans, commercial finance, business vehicle and equipment finance, trade finance and marine finance. Gulf Finance has office presence in Dubai, Sharjah and Abu Dhabi and serves customers across the UAE. Gulf Finance is headquartered in Dubai.
For further information please contact:
+971 4 446 6270