Sector News

Dubai – Mubasher: Ajman Bank posted higher net profits at AED 112.61 million during the first nine months (9M) of 2022, compared to AED 90.13 million in 9M-21. The net operating income shrank to AED 442.65 million during 9M-22, versus AED 476.76 …

Dubai – Mubasher: Emirates Islamic Bank posted a 31% hike in net profit to AED 1.05 billion during the first nine months (9M) of 2022, versus AED 804.23 million in the year-ago period. The earnings per share (EPS) stood at AED 0.19 during …

Dubai – Mubasher: The Commercial Bank of Dubai (CBD) generated AED 1.32 billion in net profit during the first nine months (9M) of 2022, up 25.80% year-on-year (YoY) from AED 1.05 billion. Meanwhile, the total operating income reached AED 2.71 …

Dubai – Mubasher: Emirates NBD logged net profits attributable to the shareholders worth AED 9.07 billion in the first nine months (9M) of 2022, an annual surge of 25% from AED 7.28 billion. Total operating income amounted to AED 22.69 billion in …

Dubai - Mubasher: Mashreq Bank posted a hike in net profit attributable to the owners to AED 2.58 billion during the first nine months (9M) of 2022, versus AED 265.07 million in the year-ago period. During the January-September 2022 period, the …

Dubai – Mubasher: Dubai Islamic Bank (DIB) has logged net profits attributable to the owners worth AED 4.04 billion in the first nine months (9M) of 2022, an annual surge of 34% from AED 3.05 billion. The total net income reached AED 9.87 billion …

Dubai – Mubasher: Emirates NBD signed a memorandum of understanding (MoU) and agreement with Honeywell for Honeywell Forge Connected Services to drive sustainability through energy-efficient building technologies.  The collaboration will leverage …

Dubai – Mubasher: Mastercard and Ajman Bank announced launching the world-first Touch Card, an accessible payment card that will enable blind and partially sighted people to easily facilitate payments and distinguish between their cards. The new …

Dubai – Mubasher: The net earnings of Amlak Finance went up by 35% on a yearly basis by the end of the first half (H1) of 2022, standing at AED 266 million, from AED 197 million. Total income during the January-June period in 2022 dropped 9% …

Dubai – Mubasher: Ajman Bank registered net profits worth AED 74.92 million during the first half (H1) of 2022, compared to AED 61.88 million in H1-21. Basic and diluted earnings per share (EPS) stood at AED 0.036 in H1-22, up from AED 0.029 in …

Dubai – Mubasher: The profits of Emirates NBD jumped by 11% year-on-year (YoY) during the first half (H1) of 2022 to stand at AED 5.3 billion, the highest since 2019. This is compared to AED 4.78 billion in H1-21. Total income amounted to AED 14.2 …

Dubai – Mubasher: Emirates Islamic Bank’s net profits increased by 23% year-on-year (YoY) during the first half (H1) of 2022 to stand at AED 701 million. The profit rise was driven by higher funded and non-funded income, coupled with lower …

Dubai – Mubasher: The Commercial Bank of Dubai (CBD) has logged net profits worth AED 866.38 million in the first half (H1) of 2022, an annual jump of nearly 28.10% from AED 676.05 million. The basic and diluted earnings per share (EPS) rose to …

Dubai - Mubasher: The net profits attributable to the owners of Mashreq Bank skyrocketed to AED 1.39 billion during the first half (H1) of 2022, compared to AED 85.35 million in the year-ago period, according to the bank's unaudited consolidated …

Dubai – Mubasher: The Commercial Bank of Dubai (CBD) has arranged an AED 530 million syndicated financing for Gulf Data Hub (GDH), a data centre facility in Dubai Silicon Oasis. GDH will use the fund in developing its new 12 megawatt (MW) data …

Dubai - Mubasher: Mashreq Bank has partnered with Dubai-based Galaxy Racer (GXR), a transmedia powerhouse, to launch a content series and gaming tournaments and support 10 of the region’s top content creators. The first-of-its-kind partnership …

Dubai - Mubasher: Mashreq Bank has set the pricing of its inaugural $300 million perpetual non-callable additional Tier 1 offering. The 8.5% five-year notes are expected to close on 7 July 2022, subject to customary closing conditions, according …

UAE – Mubasher: Dubai International Financial Centre (DIFC) has launched the first Open Finance Lab in the region on Tuesday, 28 June this year, according to a press release. The initiative is a six-month programme in which four banks and a …

Dubai – Mubasher: Emirates NBD and the National Health Insurance Company (Daman) have launched 'Early Payment Scheme' to deploy this new financing initiative across Daman’s medical network in the UAE. Daman's initiative will be integrated …

Dubai – Mubasher: Moody's Investors Service (Moody's) has upgraded Emirates NBD's long-term credit ratings to 'A2' from 'A3' and short-term ratings to 'P-1' from 'P-2', with a stable outlook. This step was attributed to Moody's decision to upgrade …

Dubai – Mubasher: Moody's Investors Service (Moody's) has upgraded the long-term deposit and senior unsecured ratings of Emirates NBD to 'A2' from 'A3' and short-term deposit ratings to 'P-1' from 'P-2', with a stable outlook. Upgrading the bank's …

Dubai – Mubasher: Amlak Finance has achieved net profits worth AED 13.08 million in the first quarter (Q1) of 2022, higher than AED 6.38 million in Q1-21. In the first three months (3M) of 2022, the income from Islamic financing and investing …

Dubai – Mubasher: Emirates Investment Bank has logged net losses attributable to the equity holders of AED 43.63 million in the first quarter (Q1) of 2022, versus net profits of AED 7 million in the same quarter of 2021, according to the bank's …