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26 July 08:05 AM

Banking & Insurance

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25 July 04:38 PM UAB’s H1-24 net profits jump 15%
Abu Dhabi – Mubasher: The United Arab Bank (UAB) posted a net profit after tax amounting to AED 139 million in the first half (H1) of 2024, up 15% from AED 121 million in H1-23. Total income was higher by 10% year-on-year (YoY) at AED 300 million …
Financial Results
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25 July 03:59 PM Mashreq Bank leads $3.2bn sustainability-linked funding round for GEMS Education
Dubai – Mubasher: Mashreq Bank has arranged a $3.25 billion leverage buyout sustainability-linked financing round for GEMS Education. The banks served as lead sustainability coordinator, initial mandated lead arranger and bookrunner, account bank, …
Banking and Finance
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25 July 12:58 PM FAB achieves AED 8.4bn net profits in H1-24
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) generated 3% higher net profits after tax at AED 8.40 billion during the first half (H1) of 2024, compared to AED 8.14 billion in H1-23. Operating income climbed by 16% year-on-year (YoY) to AED …
Financial Results
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24 July 05:11 PM ADIB logs 30% higher consolidated profit in H1-24
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank’s (ADIB) posted a 30% year-on-year (YoY) surge in consolidated net profit after tax and zakat of AED 3.02 billion during the first half (H1) of 2024 from AED 2.32 billion. Total operating income soared …
Banking and Finance
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24 July 04:49 PM FAB expands Visa B2B in region via new partnership
Abu Dhabi – Mubasher: Visa teamed up with First Abu Dhabi Bank (FAB) to expand the Visa B2B Connect network in the region, according to a press release. The collaboration aims to boost corporate cross-border payments, allowing businesses in the …
Banking and Finance
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24 July 04:24 PM CBD’s net profits hike 18.5% in H1-24
Dubai – Mubasher: The Commercial Bank of Dubai (CBD) witnessed an 18.50% surge in net profit after tax to AED 1.45 billion during the first half (H1) of 2024, compared to AED 1.22 billion in H1-23. Total operating income climbed by 10.10% …
Banking and Finance
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24 July 01:16 PM ADCB bolsters presence in Central Asia via new hub in Kazakhstan
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) established a hub in Kazakhstan for its Shari’ah-compliant corporate banking services, according to a press release. The hub aligns with the DFM-listed lender’s objectives to expand its …
Banking and Finance
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24 July 11:37 AM DIB sees higher profits in H1-24; total income hits AED 11.2bn
Dubai – Mubasher: Dubai Islamic Bank (DIB) registered net profits valued at AED 3.37 billion in the first half (H1) of 2024, up 8.60% from AED 3.11 billion in H1-23. The lender posted 21.30% year-on-year (YoY) higher total income at AED 11.29 …
Banking and Finance
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22 July 01:51 PM DIB leads $3.2bn financing for GEMS Education
Dubai – Mubasher: Dubai Islamic Bank (DIB) led a $3.25 billion financing facility for GEMS Education, the largest private K-12 education provider in the world, according to a press release. The transaction anchors DIB's leadership in the financial …
Banking and Finance
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21 July 05:52 PM GCC fixed income markets see $75.5bn issuances in H1-24 – Report
Mubasher: Primary debt issuances of bonds and sukuk in the Gulf Cooperation Council (GCC) countries surged to $75.50 billion in the first half (H1) of 2024, marking a 38% year-on-year (YoY) increase from $54.80 billion. Saudi Arabia led the GCC …
Sukuk and Islamic Finance
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21 July 01:07 PM Masdar secures $1bn from 2nd green bond issuance
UAE – Mubasher: Abu Dhabi Future Energy Company (Masdar) has raised $1 billion through its second green bond issuance, under its Green Finance Framework. The issuance includes two tranches of $500 million each, with tenors of 5 and 10 years and …
Banking and Finance
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21 July 11:09 AM RAKBANK issues 1st publicly traded Social Bond in GCC
Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) has completed the issuance of its five-year Euro Medium-Term Note (EMTN) bond under its Social Finance Framework. The lender offered a $600 million issue, which was oversubscribed …
Banking and Finance
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18 July 07:22 PM Ajman Bank records all-time high half-yearly net profits at nearly AED 216m in H1-24
Dubai – Mubasher: Ajman Bank generated net profits after tax worth AED 215.56 million in the first half (H1) of 2024, describing the results as the bank’s “all-time high half-yearly net profits,” according to a press release. The H1-24 net profits …
Financial Results
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18 July 06:35 PM ADCB achieves AED 5bn net profit before tax in H1-24
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) reported net profits before tax worth AED 5.02 billion in the first half (H1) of 2024, signalling a 28% annual increase from AED 3.92 billion. In addition, the net profits after tax of ADCB …
Financial Results
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18 July 05:22 PM Sharjah Islamic Bank logs AED 566m consolidated profit in H1-24
Abu Dhabi – Mubasher: The consolidated net profit attributable to the owners of Sharjah Islamic Bank rose to AED 566.16 million in the first half (H1) of 2024 from AED 494.57 million in the comparative period the year before. Total operating …
Banking and Finance
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18 July 12:17 PM Emirates Islamic Bank’s net profit leaps 37% YoY in H1-24
Dubai – Mubasher: Emirates Islamic Bank posted a 37% year-on-year (YoY) surge in net profit to AED 1.66 billion in the first half (H1) of 2024. The bank’s total income soared by 15% YoY to AED 2.69 billion in H1-24, according to a press release. …
Banking and Finance
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18 July 11:28 AM Emirates NBD logs 12% YoY higher profit in H1-24
Dubai – Mubasher: Emirates NBD reported a 12% year-on-year (YoY) surge in net profit to AED 13.80 billion during the first half (H1) of 2024. The bank’s earnings per share jumped by 13% YoY to 214 fils in H1-24, according to a press release. …
Financial Results
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16 July 01:50 PM NBQ’s consolidated profit rises to AED 285m in H1-24
Abu Dhabi – Mubasher: National Bank of Umm Al Qaiwain (NBQ) posted a consolidated net profit of AED 285.36 million in the first half (H1) of 2024, up from AED 255.12 million in the comparative period a year earlier. Interest income surged to AED …
Financial Results
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16 July 12:23 PM Shuaa Capital swings to consolidated loss in Q1-24
Dubai – Mubasher: Shuaa Capital turned to a consolidated net loss of AED 94.73 million during the first quarter (Q1) of 2024, versus a net profit of AED 19.66 million in the same quarter a year earlier. Revenues dropped to AED 30.18 million in …
Financial Results
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15 July 12:09 PM ADES Holding secures $3bn dual-currency debt facility from local, regional listed entities
Riyadh – Mubasher: Oil and gas drilling services provider ADES Holding Company has amended its existing syndicated facility, obtaining an additional $3 billion multi-tranche dual-currency financing on 14 July 2024. The majority of existing lenders …
Companies Investments
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11 July 11:10 AM Stride Ventures makes 1st GCC investment of $1m in Maalexi
Riyadh – Mubasher: Stride Ventures, a global venture debt firm from India, marked a key milestone in its international strategy by announcing its first $1 million venture debt investment in Maalexi as part of a broader GCC commitment. The funding …
Companies Investments
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9 July 12:49 PM Avalon Pharma obtains SAR 70m from Emirates NBD
Riyadh – Mubasher: Middle East Pharmaceutical Industries Company (Avalon Pharma) secured a Sharia facility amounting to SAR 70 million from Emirates NBD on 8 July 2024. The Saudi company obtained the loan for one year to finance its operations, …
Banking and Finance
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8 July 04:14 PM Network International, Policybazaar facilitate access to affordable insurance policies
UAE – Mubasher: Network International, a leading digital commerce enabler in the Middle East and Africa, has partnered with Policybazaar.ae to offer affordable insurance policies to Network International’s merchants. The partnership enables …
Companies Investments
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8 July 01:54 PM NBK seals 5-year deal to deploy Super iPaaS solution in Middle East
Mubasher: The National Bank of Kuwait (NBK) has entered into a five-year strategic partnership agreement with Software AG, a leading technology solutions company, to utilise its Super iPaaS solution as a unified platform for integrating …
Global Economy
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8 July 12:13 PM Ajman Bank, Positive Zero partner to implement energy efficiency solutions
Dubai – Mubasher: Ajman Bank has entered into a contract with Positive Zero’s unit, Taka Solutions, to deploy its energy efficiency solutions at the bank’s headquarters. The 10-year shared savings energy performance contract (SSEPC) covers the …
Banking and Finance