The bank reported an operating profit of Dhs1.8bn, up 96 per cent compared to the same period a year earlier
Emirates NBD also enjoyed a record quarter for income, which exceeded Dhs10bn for the first time ever
The Islamic bank made a profit of Dhs1.1bn in the three months to March 31, up from Dhs715m in the same period last year
The banking group’s operating income jumped 51 per cent YoY to reach Dhs6.7bn compared to Dhs4.5bn in the first quarter of 2022
The T-Sukuk will first be issued in two, three and five-year tranches, followed by a 10-year tenure sukuk at a later date
This partnership will help fast-track the account opening process for SMEs and deliver seamless banking services through the Wio Business app
Organisations that qualify for the exemption include entities that focus on activities such as philanthropy, community services and corporate social responsibility
The Islamic lender is the 11th commercial bank to join EDB’s credit guarantee scheme platform
The Dalio Family Office helps handle the billionaire’s private investments as well as his philanthropic donations
The bank’s balance sheet expanded by 1.3 per cent YTD to Dhs292bn while customer deposits settled at Dhs198bn
The bank’s net interest income rose by 33 per cent to Dhs2.85bn while non-interest income surged by 34 per cent to reach Dhs1.06bn
The central bank said saving deposits in the banking system have increased in recent years, from Dhs152bn in 2018 to Dhs241.8bn in 2021
The universal bank said the move comes in light of its efforts to drive shareholders’ value by optimising its operations and improving the return on equity metric
The board of directors studied the non-binding proposal from Bank Dhofar and decided not to accept it
The agreement streamlines the digital onboarding process for Mashreq customers, allowing them to instantly obtain a national investor number
The Ministry of Finance said government entities, government-controlled entities as well as extractive businesses are exempted from corporate tax
The company’s full-year revenue jumped 11.8 per cent to $517m, driven by an increase in revenue from toll usage fees
The bank said it continuously explores opportunities to boost shareholder value but does not foresee any transaction of this nature materialising in 2023
The new banknote will be available at banks and exchange houses starting from April 10
National Bonds attributed the strong growth to solutions such as the Golden Pension Plan, Global Savings Club and Sukuk Al Waqf
Dubai is home to more than 55,000 high net-worth individuals and over $3tn of private wealth is within an hour’s flight of the city
Occupancy across the REIT’s portfolio increased to 85 per cent, reflecting a 13 percentage point increase year-on-year
The bank will operate as ‘Saudi Awwal Bank’ after obtaining the necessary regulatory and shareholders’ approvals
The sector is expected to maintain a stable outlook in 2023 driven by growing demand for digital services and industry competitiveness
The GCC countries were high in the emerging markets ranking with Qatar ranking fourth and Saudi Arabia ranking sixth globally
The bank signed off on EUR318m ($344.5m) towards the financing of Phase I of the Electric Express Train Project in Egypt
In the early years of the digital era, building was the only option, but today the region is strewn with fintechs
Emerging Markets Property Group is set to hire Rothschild & Co. for the potential IPO in Dubai or Abu Dhabi
The digital bank offers SMEs seamless access to banking services while allowing them to move forward with innovative beyond-banking services
The two entities have partnered with advisory firms that are a key part of the city’s financial and business ecosystem