The largest banks in the Gulf Cooperation Council (GCC) region reported stronger loan growth in the second quarter of 2025 compared to a year ago, supported by lower regional interest rates and improved economic sentiment.

Al Rajhi Banking & Investment Corp., based in Saudi Arabia, recorded the sharpest loan growth among the top five GCC lenders, with year-on-year expansion rising to 19.31 per cent, up from 7.37 per cent a year earlier. Saudi National Bank followed with loan growth accelerating to 12.21 per cent from 10.25 per cent in the same period last year.

In the UAE, First Abu Dhabi Bank (FAB), the country’s largest lender, saw loan growth climb to 10.71 per cent, compared to 6.34 per cent a year earlier. FAB also raised its full-year loan growth forecast to the low double digits, up from a previous single-digit outlook. Emirates NBD Bank similarly revised its loan growth forecast to the low double digits after reporting a 14.28 per cent increase in Q2.

Qatar National Bank (QNB) posted loan growth of 9.38 per cent in Q2 and raised its guidance to 7 per cent–9 per cent, up from 5 per cent–7 per cent previously. “Almost half of the growth came from Turkey,” said Durraiz Khan, senior vice president for group financial consolidation, during a July 14 earnings call.

According to a July 10 outlook report by S&P Global Ratings, loan growth in Qatar, Saudi Arabia, and the UAE is expected to remain strong through the second half of 2025, in line with anticipated rate cuts from the US Federal Reserve, which the GCC nations are likely to mirror.

The increase in lending activity also lifted net interest income (NII) across most major banks.

Read: Arab Bank posts solid H1 2025 results with $535.3m in net income

QNB’s NII rose to $2.34bn from $2.12bn a year earlier, despite margin pressures from its Turkish operations. “Deposits in Turkey reprice faster than loans,” said Khan, adding that QNB expects its net interest margin (NIM) to improve if Turkey lowers rates later this year.

Emirates NBD, which operates in Turkey through its subsidiary DenizBank AS, reported a 22-basis-point decline in its Q2 NIM to 3.36 per cent. However, the bank expects its full-year margin to range between 3.3 per cent and 3.5 per cent, supported by a potential recovery in DenizBank’s profitability. NII for the quarter reached approximately $2.28bn, marking a 6 per cent year-on-year increase.

According to Fitch Ratings, GCC banks with Turkish exposure may benefit from reduced net monetary losses if inflation in Turkey continues to ease.

Al Rajhi Bank led the peer group in NII performance, reporting a 25 per cent year-on-year increase to $1.95bn. Higher net financing, investment income, and banking services fees helped lift its Q2 net profit to $1.64bn, a 31 per cent increase compared to the same period last year.

The entire report can be found here: Lower interest rates support strong loan growth at Gulf’s largest banks in Q2 | S&P Global Market Intelligence

Parkin Company PJSC (“Parkin”), Dubai’s leading provider of paid public parking facilities and services, has announced a strategic agreement with Dubai Holding to introduce managed parking solutions across several of the emirate’s master-planned communities.

Dubai Holding is a diversified global investment company with a footprint in over 30 countries. Under this new agreement, Parkin will take full charge of parking operations in select areas, deploying advanced digital technologies, enforcement systems, and real-time data analytics to optimise traffic flow and parking efficiency.

Smart, customer-focused parking rollout

The move comes amid growing pressure on parking availability in densely populated destinations. By implementing a digitally enabled, customer-centric parking model, the partnership aims to enhance space usage, improve accessibility, and promote smart mobility and urban connectivity.

“This collaboration represents a key milestone in Parkin’s expansion strategy,” said Eng. Mohamed Abdulla Al Ali, CEO of Parkin. “It strengthens our presence in the private developer parking segment and enables us to deliver integrated urban mobility experiences across Dubai.”

The phased rollout will follow Parkin’s rigorous operational standards and aims to improve convenience for residents and visitors alike.

Shared commitment to urban efficiency

The agreement signals a shared commitment by both entities to invest in infrastructure and technology that supports a modern, efficient, and user-friendly mobility system. Goals include reducing congestion, improving traffic flow, and enhancing the daily travel experience across Dubai Holding’s communities.

Parkin’s partnership with Dubai Holding also supports Dubai’s broader vision for sustainable urban growth and innovation in public infrastructure. As part of this initiative, both parties will work closely to deliver parking solutions that align with the city’s ambitions for smarter and more connected living.

Free 1-hour parking for mosque worshippers in Dubai

In another development, the Islamic Affairs and Charitable Activities Department (IACAD), the UAE government agency responsible for overseeing mosques and religious affairs, has entered into a landmark strategic partnership with Parkin Company PJSC (“Parkin”), Dubai’s largest provider of paid public parking services.

As part of the first phase of the agreement, Parkin will manage and operate these designated mosque parking areas on behalf of IACAD.

Notably, worshippers will be able to park free of charge for one hour during scheduled prayer times, ensuring more equitable access to mosques during peak worship periods.

Outside prayer times, the parking spaces will follow Dubai’s paid parking structure and remain operational 24 hours a day, seven days a week. These areas will be categorized as Zone M (standard) and Zone MP (premium), with 41 sites under Zone M and 18 under Zone MP.

Operational rollout is expected to begin in August 2025.

Emirates will introduce a fourth daily flight between Dubai and London Gatwick starting February 8, 2026, further strengthening its presence in the UK. The new flight, EK069/070, will be operated by the airline’s latest Airbus A350, featuring next-generation interiors including lie-flat Business Class, Premium Economy, and cutting-edge technology features.

Read-Emirates SkyCargo launches new vertical: here are all the details

With this addition, Emirates will offer 12 daily flights to London across three airports—Gatwick, Heathrow, and Stansted—providing more choice and flexibility for passengers, a Dubai Media Office report conveyed.

Flight EK069 is scheduled to depart Dubai at 17:05hrs and arrive in London Gatwick at 20:50hrs. The return leg, EK070, departs London at 23:55hrs and lands in Dubai at 11:00hrs the next day.

Tailored for convenience

As the final Emirates flight of the day between the two cities, EK069/070 caters to travellers seeking maximum flexibility. Arriving in Dubai early in the morning allows customers to check into hotels and start their day immediately, while the late evening departure from Dubai offers time to finish meetings, shop, or enjoy the city before flying to London.

The service will be operated by an Airbus A350-900 in a three-class configuration: 32 lie-flat Business Class seats in a 1-2-1 layout, 28 Premium Economy seats, and 238 Economy Class seats. The aircraft also includes features like wireless charging in Business Class, digital inflight menus, electric window blinds with the Emirates Ghaf tree motif in premium cabins, and Emirates’ award-winning inflight entertainment system.

Expanding UK and global reach

London Gatwick becomes the second UK airport after Edinburgh to welcome Emirates’ A350. The additional frequency brings the airline’s UK operations to 140 weekly flights across eight cities: London Gatwick, London Heathrow, London Stansted, Manchester, Birmingham, Newcastle, Glasgow, and Edinburgh. These are served by a mix of Airbus A350s, A380s, and Boeing 777s.

The new service places London among a growing list of global cities served by the A350, including Mumbai, Istanbul, Muscat, Edinburgh, and Amman.

Customers can book flights through emirates.com, the Emirates App, retail outlets, the contact centre, or travel agents.

Air Arabia Abu Dhabi has announced an increase in flight frequencies to Baku, Azerbaijan, and Tbilisi, Georgia, in response to growing demand for affordable and direct travel from the UAE capital to popular leisure destinations.

Read-Air Arabia to increase flights to Bangkok

The airline now operates six weekly non-stop flights between Abu Dhabi’s Zayed International Airport and Baku’s Heydar Aliyev International Airport. The new schedule includes flights every Tuesday through Sunday, offering greater flexibility for travellers visiting the Azerbaijani capital.

Starting August 7, the airline will also ramp up services to Tbilisi International Airport to eight weekly flights, including double daily service on Thursdays. The additional flights are expected to boost connectivity between Abu Dhabi and Georgia’s cultural and economic hub, a WAM report said.

Commitment to regional growth

Adel Al Ali, Group Chief Executive Officer of Air Arabia, said: “The increased frequencies to both Baku and Tbilisi reflect our ongoing commitment to strengthening our regional network while delivering greater convenience, flexibility, and value to our customers. These two vibrant cities remain popular among UAE residents and visitors alike.”

He added that the enhanced schedules will further reinforce travel and tourism ties between the UAE and these destinations, while offering a more seamless and accessible travel experience.

Network expansion continues

The airline continues to grow its route network from Abu Dhabi, with recent additions including Almaty in Kazakhstan and Yerevan in Armenia. These new routes align with Air Arabia Abu Dhabi’s broader strategy to expand in high-demand leisure and cultural markets across the region.

Since its launch, the low-cost carrier has focused on providing budget-friendly options and direct connections, supporting both tourism and economic links between the UAE and emerging destinations.

Gulf Business is set to host its first-ever event in Saudi Arabia with the launch of the Saudi Business and Investment Summit, taking place on September 3, 2025, at the Sheraton Riyadh Hotel & Towers.

As the Kingdom accelerates its economic transformation under Vision 2030, the summit will gather influential voices from government, private enterprise, and global institutions to explore the key drivers behind Saudi Arabia’s sustained growth. The event is designed to serve as a strategic platform for dialogue, knowledge exchange, and high-level networking around the evolving opportunities in the Saudi market.

Register to attend: https://bit.ly/46TxMQw
View the full agenda: https://bit.ly/46lqC7u

Themed “Saudi Rising: Key Driving Forces behind the Kingdom’s Economic Growth”, the half-day summit will highlight the role of innovation, public-private collaboration, regulatory reform, and sector-specific investment in positioning Saudi Arabia as a globally competitive economy.

Attendees can expect an event filled with expert-led panels, keynote sessions, and fireside conversations with some of the most influential names shaping the Saudi’s business arena. Confirmed speakers include Charbel Sarkis, country director, Google Saudi Arabia; Michael Champion, CEO, Tahaluf; Saud Adham, director of policy & innovation, Ministry of Culture, Saudi Arabia; Turki Alsubaihi, CEO Public Transport, SAPTC; and Main Canaan, general manager, GE Aerospace Middle East, and many more.

The summit agenda is anchored in actionable insights and real-world case studies that explore how businesses—local and international—can navigate and capitalise on Saudi Arabia’s rapid transformation. From localisation and market entry to strategic partnerships and digitalisation, the discussions will cover key themes relevant to any business aiming to operate or expand within Saudi Arabia.

This milestone summit marks an expansion of Gulf Business’ regional footprint and reinforces its commitment to supporting economic dialogue and business intelligence across the GCC. For partnership and sponsorship enquiries, contact Manish Chopra at [email protected].