Khalifa Mohammed al-Kindi is the new chairman while Sultan Nasser al-Suweidi remains governor of the bank.
The company’s profit rose as it booked gains in the fair value of its investment properties.
The lender has made new appointments to establish a family office for the super rich and begun an Islamic private banking service for rich Muslims.
Norway’s Government Pension Fund Global has beaten the emirate to the top spot with assets worth $656.2 billion.
The dairy company raised SAR1 billion through the first tranche of a Sukuk in March this year.
DIB’s quarterly net profit remains flat despite a jump in provisions with impairments worth Dhs309 million.
The two banks signed a partnership agreement to cooperate in trade and project finance.
Unless you diversify and explore all the options in the market, you will not get the returns you expect, say experts.
Dubai Financial Market said revenue increased 16 per cent during the quarter to Dhs36.8 million.
Local banks will have home-advantage when financing infrastructure projects but smaller assets than international lenders.
Abu Dhabi Commercial Bank posted a net profit of Dhs595 million, as non-interest income declined.
NBAD now expects lending to grow between four to eight per cent this year, down from its earlier forecast of 10 per cent.
The US Federal Energy Regulatory Commission may seek a $435 million civil penalty and roughly $35 million in disgorgement from the lender.
GCC cities fail to feature in World Economic Forum’s report as top six places remain unchanged.
NBAD, which opened an office in Shanghai earlier this year, plans to expand its presence in Asia.
As per the budget, total spending for the year will be Dhs44.6 billion.
The lender has mandated HSBC, Morgan Stanley, National Bank of Abu Dhabi and Standard Chartered to arrange the roadshows.
The lender grew its total number of assets by five per cent while its shareholders’ equity dropped by two per cent.
The Qatari lender hopes to increase capital by up to $1.6 billion in 2013.
Their combined budget surplus could turn into a deficit by 2017, the International Monetary Fund has warned.
Lenders need to put customers at the centre of what they do, writes Steve Bertamini, CEO of Consumer Banking at Standard Chartered.
The lender made a net profit of OMR10.57 million in the first nine months of the year.
The mortgage lender saw profits drop on higher provisions and funding costs.
The Saudi billionaire says ex-Citi CEO Vikram Pandit did a “pretty good job.”
The Dubai-based lender saw third quarter net profit rising to Dhs640 million on lower provisioning.
The Omani lender has missed market expectations as it posts a third-quarter profit drop compared to last year.
The lender made a profit of Dhs328.5 million during the third quarter of the year.
The Dubai Mercantile Exchange plans to shift its focus away from national oil companies, said its new CEO.
The Saudi lender said that third-quarter net profit dropped 3.5 per cent from last year to SAR1.87 billion.
Overspending and a lack of financial planning spell an insecure future for UAE residents.