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Banking & Insurance

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15 January 2025 00:48 PM CBI’s pre-tax profits hike 30% in 2024
Abu Dhabi – Mubasher: Commercial Bank International (CBI) achieved a pre-tax profit of AED 222.70 million as of 31 December 2024, reflecting a 30% year-on-year (YoY) growth, according to a press release. Total revenues surged by 29% YoY to AED 703 …
Financial Results
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14 January 2025 07:49 PM IFZA partners with ADIB to advance digital banking services in UAE
Abu Dhabi – Mubasher: IFZA signed a memorandum of understanding (MoU) with Abu Dhabi Islamic Bank (ADIB) to offer seamless support and advanced financial solutions to businesses within its ecosystem. The two parties will team up to provide quick …
Banking and Finance
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13 January 2025 06:11 PM PIF acquires 23% shareholding in MENA-focused Saudi Re
Riyadh – Mubasher: The Public Investment Fund (PIF) has acquired a 23.08% stake in Saudi Reinsurance Company (Saudi Re) by way of a capital increase and subscription to new shares, according to a press release. PIF’s capital investment aims to …
Companies Investments
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13 January 2025 03:00 PM Aldar secures largest sustainability-linked facility by property company in Middle East
Abu Dhabi – Mubasher: Aldar Properties has closed an AED 9 billion ($2.45 billion) sustainability-linked syndicated senior unsecured committed multi-tranche revolving credit facility (RCF). The facility marks the largest sustainability-linked, …
Companies Investments
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13 January 2025 10:08 AM MAFI’s new industrial complex targets global markets; major banking alliance leads financing
Cairo - Mubasher: MAFI Agricultural Produce Industries secured long-term joint financing of $108 million from an alliance led by Banque Misr, Suez Canal Bank and Al Baraka Bank-Egypt. MAFI also obtained $72 million through equity investments from …
Banking and Finance