Dubai – Mubasher: The Commercial Bank of Dubai (CBD) posted higher net profits at AED 700.98 million in the first quarter (Q1) of 2024, versus AED 575.22 million in Q1-23. Total income amounted to AED 1.37 billion in Q1-24, an annual rise of …
Dubai – Mubasher: The net profits of Emirates Islamic Bank hiked by 35% year-on-year (YoY) to AED 811.44 million in the first quarter (Q1) of 2024 from AED 600.86 million. Total operating income amounted to AED 1.34 billion in Q1-24, an annual …
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) achieved a net profit after tax worth AED 1.45 billion during the first quarter (Q1) of 2024, signalling a 32% increase from AED 1.10 billion in Q1-23. The UAE lender generated revenues of AED …
UAE – Mubasher: Al Etihad Payments (AEP), a subsidiary of the Central Bank of the UAE (CBUAE), has signed a partnership with Core42, a subsidiary of artificial intelligence (AI) technology company G42. The partnership aims to start the …
Dubai – Mubasher: The net profits of Dubai Islamic Bank (DIB) surged to AED 1.66 billion in the first quarter (Q1) of 2024 from AED 1.50 billion in Q1-23. DIB registered a total net income amounting to AED 5.60 billion in Q1-24, higher by 27% than …
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) inked a partnership with Astra Tech, becoming the first lender to provide users across the country access to financial services on the Botim Ultra app. ADIB and Botim will join forces to develop …
Abu Dhabi – Mubasher: The net profits attributable to the owners of Sharjah Islamic Bank hit AED 259.65 million in the first quarter (Q1) of 2024, an annual growth from AED 233.06 million. Total operating income jumped to AED 504.74 million in …
Abu Dhabi – Mubasher: The value of Abu Dhabi Commercial Bank’s (ADCB) brand grew 8.70% year-on-year (YoY) to AED 10.50 billion in 2023. The bank ranked 109th in the 2024 Banking 500 report from Brand Finance, moving up four places from last year, …
Dubai – Mubasher: Emirates Islamic Bank has concluded its debut $500 million syndicated financing facility, according to a recent press release. The three-year term facility is the first of its kind raised by a Shariah-compliant financial …
Abu Dhabi – Mubasher: National Bank of Umm Al Qaiwain (NBQ) posted an unaudited consolidated net profit after tax of AED 175.73 million in the first quarter (Q1) of 2024, up from AED 139.15 million in the comparative quarter a year earlier. …
Dubai – Mubasher: Dubai Islamic Insurance and Reinsurance Company (Aman) incurred accumulated losses valued at AED 143.21 million at the end of the fourth quarter (Q4) of 2023. The registered accumulated losses account for 63.44% of the company’s …
Abu Dhabi – Mubasher: The shareholders of Abu Dhabi National Takaful Company passed the board’s proposal to distribute cash dividends worth AED 31.50 million, which accounts for 30% of paid-up capital. Takaful will disburse 31,50 fils per share on …
Dubai – Mubasher: Al Ansari Exchange, a subsidiary of Al Ansari Financial Services, partnered with Al Etihad Payments (AEP), a unit of the Central Bank of the UAE (CBUAE), to boost seamless payments. The two entities will utilise Aani, an instant …
Mubasher: Forbes Middle East has revealed its ‘30 Most Valuable Banks’ ranking, with Saudi Arabia leading the list via 10 entries at an aggregated market value of $279.50 billion. As of 23 February 2024, the 30 banks had a combined value of …
Mubasher: Potential macroeconomic changes in Turkiye are set to benefit subsidiaries of GCC-based banks in the country. A disinflation in Turkiye is set to cut GCC banks’ net losses and the decelerated devaluation of the lira is expected to reduce …
Abu Dhabi – Mubasher: Global rating agency Moody's has upgraded the Baseline Credit Assessment (BCA) and Adjusted BCA of Abu Dhabi Islamic Bank (ADIB) to 'baa3' from 'ba1'. Moody's affirmed ADIB’s local and foreign currency long-term issuer …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) and Microsoft teamed up to develop new AI-based banking capabilities and bolster financial services, according to a press release. The two entities will partner to launch an AI Innovation Hub that …
Dubai – Mubasher: Emirates NBD Capital, the investment banking arm of Emirates NBD, has arranged a $500 million syndicated revolving credit facility (RCF) for Lenovo Group Limited. The facility marks Lenovo's first entry into the Middle East …
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB, has launched a mortgage finance system with an interest rate of up to 8%, in implementation of the latest initiative by the Central Bank of Egypt …
Abu Dhabi – Mubasher: The United Arab Bank (UAB) registered AED 255.30 million in net profit during 2023, higher than AED 154.72 million in 2022. Total interest income and income from Islamic financing products hit AED 921.61 million last year, up …
Dubai – Mubasher: Fitch Ratings asserted Ajman Bank's long-term issuer default rating (IDR) at 'BBB+', with a stable outlook and viability rating (VR) at 'b+', according to a press release. Mustafa Al Khalfawi, Group CEO of Ajman Bank, said: "We …
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) inked an affiliate partnership agreement to provide financing to Tesla car buyers at affordable profit rates starting at 1.79%. Through ADIB’s electrical car financing programme VOLT, the lender …
Cairo – Mubasher: The board members of Macro Group Pharmaceuticals - Macro Capital agreed to renew short-term financing from First Abu Dhabi Bank Misr (FABMISR), an Egypt-based unit of the ADX-listed FAB. The board greenlighted the EGP 65 million …
Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) appointed Mohamed Omran Al Shamsi as the Chairman of the board. The lender’s board members also elected Shaikha Amneh Al Qasimi as the Vice Chairperson, according to a bourse …
Cairo – Mubasher: Emirates NBD-Egypt, a subsidiary of DFM-listed Emirates NBD, opened its newest branch in Qena Governorate within its expansion strategy to offer a comprehensive scope of services, according to a press release. The inauguration …
