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22 February 04:31 PM

Banking

Transfers by individuals amounted to AED 312.6 billion
21 February 05:28 PM Transfers among UAE’s banks record AED 948bn in January 2020
UAE – Mubasher: The total value of fund transfers among UAE's banks through the Funds Transfer System (UAEFTS) grew by 4.6% year-on-year to AED 948 billion during January 2020.   Transfers by individuals amounted to AED 312.6 billion, according to …
Macroeconomics
The Central Bank of the UAE
20 February 09:03 PM UAE’s foreign currency assets hit AED 400bn in January 2020
UAE – Mubasher: The UAE’s foreign currency assets grew by 1.3% year-on-year to AED 400 billion in January 2020, according to the Emirates News Agency. The increase in the GCC country’s foreign assets resulted from growth in deposits held in banks …
Macroeconomics
The KYC platform is set to be launched in the first quarter of 2020
19 February 08:59 PM Dubai Economy collaborates with 6 banks to share data
UAE – Mubasher: Dubai Economy has collaborated with six banks to launch a consortium for sharing of verified Know Your Customer (KYC) data between banks and licensing authorities in the UAE. The six banks include Emirates NBD, Emirates …
Macroeconomics
The bonds carry a maturity period of five years
18 February 03:18 PM National Industries’ bond issue fully oversubscribed
Mubasher: The KWD 30 million ($98.6 million) denominated bonds issue of National Industries Group Holding was successfully concluded. The five-year bonds were fully oversubscribed, according to a press release on Tuesday.  The announcement was …
Banking and Finance
The USD dropped to EGP 15.65 for buying at ADIB
17 February 02:43 PM USD falls against EGP at local banks on Monday
Cairo – Mubasher: The US dollar exchange rate declined against the Egyptian pound at 12 local banks on Monday. The USD dropped to EGP 15.65 for buying and EGP 15.75 for selling at Abu Dhabi Islamic Bank (ADIB) and EGP 15.63 for buying and EGP …
Currencies
FAB made AUD 350 million in a five-year Kangaroo issuance
16 February 06:58 PM FAB issues AED 3bn First-ever Sterling, Kangaroo bonds
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has raised more than AED 3 billion in three days from its first ever Sterling bond and first Kangaroo bond since 2014, according to a press release on Sunday. The UAE’s largest bank has issued GBP …
Banking and Finance
Photo Archive
13 February 02:30 PM UAE’s petrochem sector obtains AED 23.1bn loans in 2019
UAE – Mubasher: Banks in UAE provided AED 23.1 billion credit facilities to the petrochemical sector in 2019, compared to around AED 19.89 billion in 2018, central bank data shows, Emirates News Agency (WAM) reported. This represented 1.4% of the …
Macroeconomics
UAB posted a loss per share of AED 0.23 in 2019
13 February 01:56 PM UAB reports AED 471m net losses in 2019
Abu Dhabi – Mubasher: United Arab Bank (UAB) has incurred a net loss amounting to AED 470.753 million in 2019, versus a net profit of AED 77.227 million in 2018, according to the bank’s preliminary financial statements for 2019. The bank’s …
Financial Results
Emirates Investment Bank generated AED 175.730 million revenuesin 2019
13 February 12:32 PM Emirates Investment Bank sees AED 8.9m in 2019
Dubai – Mubasher: The net profits of Emirates Investment Bank dipped to AED 8.851 million in 2019 from AED 38.710 million in 2018, according to preliminary financial results for 2019. The bank generated AED 175.730 million revenues last year, …
Financial Results
DIB's net income grew by 13% to AED 9.266 billion
13 February 12:07 PM DIB reports higher net profits at AED 5.102bn in 2019; dividends proposed
Dubai – Mubasher: Dubai Islamic Bank (DIB) reported a 2% year-on-year (YoY) increase in net profits to AED 5.102 billion in 2019 from AED 5.003 billion in 2018, according to the bank’s consolidated financial statements for 2019. The bank’s net …
Banking and Finance
Earnings per share (EPS) rose to 9.8 fils in 2019.
13 February 10:25 AM Al Salam Bank records BHD 21m profits in 2019; dividends proposed
Mubasher: Al Salam Bank – Bahrain reported a net profit attributable to shareholders worth BHD 21.1 million, 14% year-on-year (YoY) higher than BHD 18.5 million. Earnings per share (EPS) stood at 9.8 fils by 2019 year-end, as compared to 8.7 fils …
Banking and Finance
Operating profit increased by 4.4% YoY
12 February 06:41 PM ADIB registers AED 2.6bn profit in 2019
Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB) reported a 4% year-on-year profit hike during the fiscal year 2019. The bank’s net profit went up to AED 2.6 billion ($710 million) last year, compared to AED 2.5 billion ($680 million) a year …
Banking and Finance
Ajman Bank’s net operating income grew to AED 636.036 million
12 February 05:23 PM Ajman Bank’s net profits reach AED 84m in 2019
Dubai – Mubasher: The net profits of Ajman Bank plunged to AED 84.402 million in 2019 from AED 170.034 million in 2018, according to the bank’s consolidated financial statements for 2019. The bank’s net operating income grew to AED 636.036 million …
Banking and Finance
Bonds will be paid on a quarterly basis.
12 February 05:07 PM National Industries issues KWD 30m bonds, due in 2025
Mubasher: The National Industries Group Holding has successfully issued non-guaranteed bonds worth KWD 30 million (approx. $98.7 million) on Tuesday, 11 February. The bonds will be matured in five years in 2025, according to a bourse statement on …
Bonds
Kuwaiti public debt declined by 4.61% MoM
12 February 12:29 AM Kuwait’s public debt hits over KWD 2bn in December 2019
Mubasher: Kuwait’s public debt instruments dropped 41.5% year-on-year at the end of December 2019, according to data released by the Central Bank of Kuwait (CBK). The GCC country’s debt instruments went down to KWD 2.072 billion ($6.822 billion) …
Macroeconomics
Kuwaiti M2 declined to KWD 38.129 billion
12 February 12:16 AM Kuwait’s M2 falls 1.24% YoY in December 2019
Mubasher: Kuwait’s local liquidity went down by 1.24% year-on-year at the end of December 2019, according to data released by the Central Bank of Kuwait (CBK). Kuwaiti money supply (M2) declined to KWD 38.129 billion ($125.534 billion) last …
Macroeconomics
NBQs total revenues reached AED 750.92 million in 2019
11 February 05:23 PM NBQ records 3.8% higher net profits in 2019
Abu Dhabi – Mubasher: National Bank of Umm Al Qaiwain (NBQ) saw a 3.8% rise in net profits to AED 424.39 million in 2019 from AED 409.02 million in 2018, according to the bank’s preliminary financial results for 2019. The bank’s total revenues …
Banking and Finance
Vezeeta currently operates in 50 cities in Egypt, Saudi Arabia, Jordan, and Lebanon
11 February 03:02 PM Vezeeta raises $40m in Series D funding round led by Gulf Capital
Cairo – Mubasher: Vezeeta, the leading digital healthcare startup in the Middle East and Africa, raised $40 million in a Series D funding round led by Gulf Capital, the largest alternative asset management company in the Middle East. Saudi …
Companies Investments
The bank recorded a loss per share of 15.86 fils last year
10 February 04:15 PM Khaleeji Commercial Bank turns to BHD 15m loss in 2019
Mubasher: Khaleeji Commercial Bank, listed on Bahrain Bourse (BHB) and the Dubai Financial Market (DFM), incurred losses of BHD 14.93 million in the fiscal year 2019, against a profit worth BHD 658,760 in 2018. The bank registered a loss per share …
Banking and Finance
Egypt’s gold reserves increased to $3.424 billion
9 February 02:57 PM Egypt’s gold reserves up $123m in January amid coronavirus worries
Cairo – Mubasher: Gold reserves in Egypt rose in January for the second month in a row as concerns about the spreading coronavirus fuelled safe-haven demand. Egypt’s gold reserves increased by $123 million to $3.424 billion in January from $3.301 …
Commodities
The lender’s operating income for 2019 amounted to AED 3.033 million
6 February 10:29 AM CBD logs 20.5% higher net profits in 2019
Dubai – Mubasher: The net profits of Commercial Bank of Dubai (CBD) surged by 20.5% year-on-year (YoY) to AED 1.4 billion in 2019, compared to AED 1.162 billion in 2018. The bank’s total assets increased to AED 88.068 billion last year from AED …
Banking and Finance
Net interest income grew to AED 2.802 billion
5 February 10:47 AM RAKBANK’s net profit rises 19% in 2019; dividends proposed
Abu Dhabi – Mubasher: The National Bank of Ras Al Khaimah (RAKBANK) reported a 19.4% year-on-year profit growth during 2019. The lender’s net profits grew by AED 117.7 million to AED 1.095 billion last year from AED 917.52 million in 2018, …
Banking and Finance
ADCB reported net profits of AED 4.79 billion
4 February 05:28 PM Abu Dhabi banking giant ADCB exits Jersey
Abu Dhabi – Mubasher: Abu Dhabi Commercial Bank (ADCB) decided to exit its operations in Jersey in a bid to focus on its operations in the UAE. The Jersey Financial Services Commission has been informed of the decision, and customers and other …
Banking and Finance
Revenues reached AED 2.827 billion in 2019
4 February 03:54 PM Dubai Investments logs AED 657.5m net profits in 2019
Dubai – Mubasher: The net profits attributable to the owners of Dubai Investments rose to AED 657.5 million during 2019, compared to AED 651.4 million in 2018, according to the company’s unaudited preliminary results for 2019. The company’s …
Banking and Finance
The Emirati client will refinance AED 900m prime central London healthcare facility
29 January 05:38 PM ADIB allocates AED 320m financing to clients in UK
Abu Dhabi – Mubasher: Abu Dhabi Islamic Bank (ADIB), a leading financial institution, provided through ADIB UK a sharia-compliant financing worth AED 320 million (GBP 66.6 million) to a private Abu Dhabi and Bahrain-based clients. Through the …
Banking and Finance