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08 May 05:08 AM

Banking & Insurance

The EPS stood at AED 0.015 in Q1-21
5 May 11:30 AM Ajman Bank records surge in net profits in Q1-21
Dubai – Mubasher: The net profits of Ajman Bank have hiked to AED 31.331 million during the first quarter (Q1) of 2021, compared to AED 4.609 million in the same period of 2020, according to the bank's interim financial results for the three-month …
Financial Results
The bank’s net revenues grew by 3.3% to AED 1.335 billion
2 May 03:53 PM ADIB's profit jumps 125% in Q1-21
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) reported net profits of AED 607.6 million in the first quarter (Q1) of 2021, up by 125% year-on-year (YoY) from AED 269.7 million on the back of higher revenues and lower impairment allowance, …
Financial Results
The bank reported a net income of AED 520.868 million in Q1-21
28 April 02:25 PM CBD's net profits rise 3% in Q1-21
Dubai – Mubasher: The net profits of the Commercial Bank of Dubai (CBD) has increased by 3.1% to AED 325.022 million in the first quarter (Q1) of 2021, compared to AED 315.323 million in the year-ago period. Higher net profits are driven by …
Financial Results
The bank's total assets rose to AED 53.231 billion as of 31 March 2021
28 April 11:09 AM RAKBANK sees decline in net profits in Q1-21
Abu Dhabi – Mubasher: The net profits attributable to the owners of National Bank of Ras Al Khaimah (RAKBANK) decreased to AED 113.31 million in the first quarter (Q1) of 2021 from AED 153.099 million in the same quarter of 2020, according to the …
Banking and Finance
The bank's net income declined to AED 2.225 billion in Q1-21
28 April 09:47 AM DIB reports lower net profits in Q1-21
Dubai – Mubasher: The net profits attributable to the owners of Dubai Islamic Bank (DIB) decreased to AED 845.962 million during the first three months of 2021, compared to AED 1.111 billion in the corresponding period of 2020, according to the …
Banking and Finance
The list comprises the top 500 banks worldwide
26 April 02:56 PM ADIB ranks 1st bank in UAE on Forbes list of World's Best Banks 2021
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has occupied the first position in the UAE on the Forbes list of World's Best Banks 2021, according to a press release on Monday. The list comprises the top 500 banks worldwide from across 28 …
Banking and Finance
Abu Dhabi Ports would issue bonds soon
26 April 12:51 PM Abu Dhabi Ports secures $1bn loan
UAE - Mubasher: Abu Dhabi Ports has been granted a $1 billion loan by nine banks, two sources told Reuters. Citi, First Abu Dhabi Bank (FAB), HSBC, and Standard Chartered have been involved in the transaction for Abu Dhabi Ports, which holds and …
Banking and Finance
Emirates NBD Capital has raised $18 billion through these transactions
26 April 12:13 PM Emirates NBD Capital leads 24 debt capital transactions in Q1-21
Dubai – Mubasher: The debt capital market team of Emirates NBD Capital, the investment banking arm of Emirates NBD, has recorded 24 transactions during the first quarter (Q1) of 2021, witnessing its strongest quarter in the debt capital markets. …
Banking and Finance
The bank's net interest income decreased to AED 1.723 billion
26 April 09:43 AM ADCB records higher profits in Q1-21
Abu Dhabi - Mubasher: Abu Dhabi Commercial Bank (ADCB) reported an increase in net profits attributable to the equity holders to AED 1.12 billion in the first quarter (Q1) of 2021 from AED 207.37 million in the same quarter of 2020, according to …
Banking and Finance
UAE banks invested around AED 287.9 billion in debt securities
22 April 12:36 PM UAE banks' investments hit AED 500.1bn in February
UAE - Mubasher: The UAE banks reported a 22.1% increase in their total investments to AED 500.1 billion in February 2021 from AED 409.6 billion during the same month of 2020. On a monthly basis, the total investments of UAE banks rose by 4.4%, …
Macroeconomics
The bank's net interest income increased by 13%
22 April 09:44 AM FAB reports 3% higher profits in Q1-21
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) reported a 3% growth in net profits attributable to the shareholders to AED 2.475 billion in the first quarter (Q1) of 2021 from AED 2.408 billion in the year-ago period, according to the bank's …
Banking and Finance
FAB will integrate Bank Audi Egypt and FAB Egypt
21 April 02:57 PM FAB initiates share transfer process to acquire Bank Audi Egypt
Mubasher: First Abu Dhabi Bank (FAB) has started the share transfer process to acquire 100% of the share capital of Bank Audi Egypt, the subsidiary of Lebanon-based Bank Audi, after receiving the necessary regulatory approvals. Following the …
Banking and Finance
The digital bank has a virtual presence across the world
21 April 12:59 PM Zurich Capital Funds launches world's first Islamic digital bank
UAE - Mubasher: Zurich Capital Funds Group has launched the world's first fully Islamic Shariah-compliant digital bank, known as RIZQ/BARAKA bank, from the UAE. The bank will offer all banking services, according to Islamic rules, only through …
Banking and Finance
The Sukuk issuance was 5.6 times oversubscribed
21 April 12:10 PM DIB lists $500m perpetual Additional Tier 1 Sukuk on Nasdaq Dubai
Dubai – Mubasher: Nasdaq Dubai has welcomed the listing of a $500 million perpetual Additional Tier 1 Sukuk issued by Dubai Islamic Bank (DIB), according to a press release on Wednesday. With the lowest yield of 3.375% by a GCC bank on an …
Sukuk and Islamic Finance
The transaction is valued at AED 3.27 per share
21 April 11:26 AM Dubai Investments acquires 21.5% stake in National General Insurance
Dubai – Mubasher: Dubai Investments has purchased 32.3 million shares in National General Insurance Company (NGI) from Emirates NBD. The transaction, valued at AED 3.27 per share, represents 21.53% of NGI's share capital, according to a bourse …
Companies Investments
CBUAE has extended key components of its economic stimulus package
20 April 11:31 AM CBUAE extends economic stimulus package until mid-2022
UAE - Mubasher: The Central Bank of the UAE (CBUAE) has extended key components of its economic stimulus package, Targeted Economic Support Scheme (TESS), until mid-2022, according to the Emirates News Agency (WAM). This extension will enable …
Central Banks
The bank's earnings per share settled at AED 0.34
20 April 10:10 AM Emirates NBD reports higher profits amid improving economic conditions
Dubai – Mubasher: The net profits attributable to the equity holders of Emirates NBD increased to AED 2.321 billion in the first three months of the year from AED 2.079 billion in the year-ago period, according to the consolidated interim …
Financial Results
The bank's total assets increased to AED 71.243 billion
20 April 09:39 AM Emirates Islamic records 37% higher net profits in Q1-21
Dubai – Mubasher: Emirates Islamic Bank reported a 37% rise in the net profits to AED 211.59 million in the first quarter (Q1) of 2021, compared to AED 154.987 million in the same quarter of 2020, according to the bank's consolidated interim …
Banking and Finance
The UAE banks' deposits hit AED 1.878 trillion in February
19 April 11:55 AM UAE banks record 3% YoY higher assets in February
UAE - Mubasher: The total assets of the UAE banks rose by 2.7% to AED 3.179 trillion in February 2021 from AED 3.095 trillion in the same month of 2020. The UAE banks' deposits hit AED 1.878 trillion in February 2021, up 2.8% from AED 1.828 …
Macroeconomics
The other foreign assets reached AED 38.55 billion in February
19 April 11:17 AM CBUAE's foreign assets hit AED 385.17bn in February
UAE - Mubasher: The total foreign assets of the Central Bank of the UAE (CBUAE) decreased to AED 385.17 billion in February 2021, compared to AED 405.94 billion in the same month of 2020. The CBUAE's total foreign assets rose by 1.8% …
Central Banks
The cross-border transactions were built on blockchain technology
18 April 01:16 PM ADIB executes 60 blockchain-powered trade transactions
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB) has implemented more than 60 blockchain-powered trade finance cross-border transactions during the first year of the bank's partnership with TradeAssets. In April 2020, ADIB became the first …
Banking and Finance
The bank's total assets reached AED 54.919 billion as of 31 March 2021
18 April 10:29 AM Sharjah Islamic Bank records 7% higher profits in Q1-21
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) reported a 6.8% increase in net profits attributable to the shareholders to AED 164.2 million during the first quarter (Q1) of 2021, compared to AED 153.7 million in the same quarter of 2020, …
Financial Results
The members of the founding committee comprise youth and progressive Emiratis
18 April 09:57 AM UAE's first fully integrated digital bank forms founding committee
UAE - Mubasher: Al Maryah Community Bank, the UAE's first fully integrated digital bank, has formed its founding committee, which will be led by Tariq Ahmed Al Masaood as Chairman, according to the Emirates News Agency (WAM). The members of the …
Banking and Finance
The Sukuk is listed on Euronext Dublin and Nasdaq Dubai
15 April 11:51 AM DIB closes lowest pricing on $500m Sukuk issuance
Dubai – Mubasher: Dubai Islamic Bank (DIB) has priced a perpetual non-call five and a half year Additional Tier 1 (AT1) Sukuk issuance worth $500 million with a 3.375% profit rate per annum. This transaction records the lowest pricing closed by a …
Banking and Finance
The bank will announce the potential bidders' final list
15 April 09:36 AM ADCB receives offers for 51% stake in Alexandria Medical Services
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) has received preliminary non-binding offers from potential investors to acquire the bank's 51.54% stake in Alexandria Medical Services - Alexandria New Medical Center in Egypt. The bank and …
Banking and Finance