The bank’s investment in Credit Suisse plunged by approximately 20 per cent by the end of 2022 and a further 70 per cent in Q1 2023
RAKBANK reported a record total income of Dhs1.07bn for the first quarter
Emirates NBD also enjoyed a record quarter for income, which exceeded Dhs10bn for the first time ever
The banking group’s operating income jumped 51 per cent YoY to reach Dhs6.7bn compared to Dhs4.5bn in the first quarter of 2022
This partnership will help fast-track the account opening process for SMEs and deliver seamless banking services through the Wio Business app
The Islamic lender is the 11th commercial bank to join EDB’s credit guarantee scheme platform
The bank’s balance sheet expanded by 1.3 per cent YTD to Dhs292bn while customer deposits settled at Dhs198bn
Proceeds from the five-year tranche will be used for general corporate purposes while the 10-year green bond will be used to finance projects as set out in the framework
The bank’s net interest income rose by 33 per cent to Dhs2.85bn while non-interest income surged by 34 per cent to reach Dhs1.06bn
The central bank said saving deposits in the banking system have increased in recent years, from Dhs152bn in 2018 to Dhs241.8bn in 2021
The collaboration with WorldGBC offers the bank a platform to strengthen its net zero commitments
The Abu Dhabi-listed firm said proceeds from the issuances will be used to finance eligible green projects including renewable energy
The universal bank said the move comes in light of its efforts to drive shareholders’ value by optimising its operations and improving the return on equity metric
The Ministry of Finance said government entities, government-controlled entities as well as extractive businesses are exempted from corporate tax
The company’s full-year revenue jumped 11.8 per cent to $517m, driven by an increase in revenue from toll usage fees
The bank said it continuously explores opportunities to boost shareholder value but does not foresee any transaction of this nature materialising in 2023
The new banknote will be available at banks and exchange houses starting from April 10
National Bonds attributed the strong growth to solutions such as the Golden Pension Plan, Global Savings Club and Sukuk Al Waqf
Dubai is home to more than 55,000 high net-worth individuals and over $3tn of private wealth is within an hour’s flight of the city
The loans will support the construction and operation of the 500MW Dzhankeldy wind farm and the 500MW Bash wind power plant in Uzbekistan
The bank will operate as ‘Saudi Awwal Bank’ after obtaining the necessary regulatory and shareholders’ approvals
The multi-currency facility, equivalent to around $2bn, includes three tranches amounting to EUR600m, $620m, and Dhs2,863m with a tenure of up to 2.5 years
The GCC countries were high in the emerging markets ranking with Qatar ranking fourth and Saudi Arabia ranking sixth globally
The bank signed off on EUR318m ($344.5m) towards the financing of Phase I of the Electric Express Train Project in Egypt
The digital bank offers SMEs seamless access to banking services while allowing them to move forward with innovative beyond-banking services
This move will enhance international investors’ access to DFM’s diversified investment opportunities
In 2023, inflation is projected to decelerate to 3.2 per cent, on the back of softer price increases in all categories
The MoEI issued the aid via 432 decisions on applications for house construction, completion, purchase, maintenance and upgrades
Standard Chartered’s corporate, commercial and institutional banking, and consumer, private and business banking businesses in Jordan will move to AJIB
The central banks announced interest rate hikes by 25 basis points