#Banking

First Abu Dhabi Bank (FAB) reports robust performance in H1 2024 GettyImages

FAB posts record H1 profit of Dhs8.4bn amid strong revenue growth

The bank’s profit before tax grew by 15 per cent year-on-year to Dhs10bn

KFH plans to acquire a stake in Saudi Investment Bank

Kuwait’s KFH reportedly plans to acquire a stake in Saudi Investment Bank

Deliberations between the two lenders are reportedly ongoing but there is no certainty that they will result in a deal

UAE banks provide Dhs15.6bn to trade, industrial sectors in Q1 2024

UAE banks provide Dhs15.6bn to trade, industrial sectors in Q1 2024

National banks accounted for 90 per cent of the combined credit to the two sectors, while the remaining 10 per cent (Dhs84.3bn) came from foreign banks

Dubai wealth fund ICD’s 2023 profit jumps 68%

Dubai wealth fund ICD posts Dhs60.8bn in full-year profit

The state investor posted a record-high net profit of Dhs60.8bn, buoyed by an increase of Dhs24.6bn from its transportation and banking businesses

UAE’s FAB reportedly in advanced talks to acquire Yapi Kredi

The final details of the potential deal for Turkey’s fourth-biggest private bank are being hammered out after months of negotiations

consumer confidence in UAE banking sector rises to 90 per cent image-by-WAM

Consumer confidence in UAE banks climbs to 90%, here’s why

Abdulaziz Al-Ghurair, UBF and Mashreq chairman, said UAE banks are leveraging technologies such as AI, blockchain, and data analytics

banking

Revolutionising banking-as-a-service: BKN301 on bridging financial markets across Europe and MENA

Stiven Muccioli’s insights shed light on BKN301’s mission to revolutionise banking services, underscoring the importance of innovation, adaptability, and cybersecurity in the ever-evolving fintech landscape

Siobhan Bryon of Finastra on the rise of digital and personalised services in the regional banking sector Image Supplied

Digital, personalised services are impacting regional banking

AI can support more seamless experiences with BaaS and embedded finance, such as faster and more accurate credit decisions and fraud detection

Here’s what Dubai’s new 20% tax regime for foreign banks means

Here’s what Dubai’s new 20% tax regime for foreign banks means

The new tax regime clarifies that the headline 9 per cent corporate tax will be creditable against the emirate-level tax on foreign banks

UAE banks set for another year of record growth

UAE banking sector assets hit record Dhs4.1tn in 2023

Total deposits of resident and non-resident customers with UAE banks rose by 13.5 per cent YoY to reach Dhs2.5tn

Abu Dhabi Commercial Bank - ADCB

UAE bank ADCB Q4 net profit jumps 38%, beats forecasts

Net interest income in the fourth quarter increased by 17 per cent year-on-year to Dhs3.41bn

What is the average salary increase in the UAE in 2024?

More than one-third of companies have plans to raise wages by up to 5 per cent

Nasser Al Awadhi - group CEO adib

Power Letters 2024: Nasser Al Awadhi, group CEO of ADIB

Abu Dhabi Islamic Bank is actively working on prioritising substantial investments in renewable energy, clean technology, and eco-friendly projects

How banks are leveraging the power of GenAI

GenAI is an excellent tool to improve research for faster processing of more data from a wider range of sources to support decision-making

How regtech tools can enhance compliance and security

Cover story: How regtech tools can help UAE-based entities enhance compliance and security

NorthLark’s Eshana de Silva tells Gulf Business that regtech promises to marry the new landscape of post-financial crisis regulation to the new landscape of digital technologies

UAE: Abu Dhabi Islamic Bank successfully issues $500m green senior sukuk Image Getty Images

UAE: Abu Dhabi Islamic Bank successfully issues $500m green senior sukuk

The issuance attracted interest from more than 100 global and regional investors with the final order book closing at $2.6bn

Mashreq sees 122% rise in net profit in first nine months of 2023 Image WAM

Mashreq bank’s net profit rises 122% in first 9 months of 2023

The increase in operating income and net profit was primarily attributed to a significant 82 per cent increase in net interest income

Emirates NBD makes strategic investment in Komgo Image Dubai Media Office

Emirates NBD makes equity investment in trade finance platform Komgo

The strategic investment in Komgo was made through Emirates NBD’s Innovation Fund, which was set up earlier this year

These 4 Emirati women lead UAE’s powerful financial institutions

Emirati Women’s Day celebrations are being held under the theme “We Collaborate for Tomorrow” this year

Central Bank of the UAE

Central Bank of the UAE’s H1 2023 budget revealed

On an annual basis, the central bank’s public budget surged by 32.15 per cent, equivalent to Dhs158bn

How regional banks can help build a greener economy

Insights: How regional banks can help build a greener economy

The central role that banks play in capital allocation is why regulators want them to help usher in a new era of green finance

SNB’s Q2 2023 net profit up 9% to $1.33bn

SNB’s Q2 net profit up 9% to $1.33bn

The bank’s net profit surged by 9 per cent to reach $1.33bn (SAR5bn) in the three months to June 30

ADIB introduces Istikrar Image credit ADIB

ADIB launches Istikrar, UAE’s ‘first’ long-term, fixed-rate home finance product

According to the bank, the product’s fixed-rate tenor offers home buyers a worry-free experience, free from any large final payment or unexpected changes in installments

UAE banking system

UAE banks reap the benefits of an economic boom

Strong capital buffers have supported the UAE financial services sector over the years and banks are re-articulating their value proposition to thrive in the new digital environment

Qatari banks’ external debt

Qatari banks’ external debt: Is the problem over?

One of the main sources of concern for the Qatari banking system has been the build-up of external debt

CBUAE on UAE banks’ assets

Gross assets of UAE banks hit Dhs3.8tn in April

The central bank said banks’ gross credit increased by 0.1 per cent to Dhs1.89tn in April, driven by a 0.4 per cent growth in domestic credit

insurance company

CBUAE removes board of directors of insurance company

It is replaced it with a temporary committee of experts for six months

CBUAE revokes licence of an exchange firm

UAE bank investments hit record high of Dhs541bn in February

The CBUAE update showed a year-on-year growth of 15.2 per cent over the same period last year

ADIB Meydan Free Zone Signing ceremony

Abu Dhabi Islamic Bank, Meydan Free Zone collaborate to support SMEs

The partnership will enable both organisations to pool their resources and capabilities to offer SMEs a more comprehensive suite of solutions and service

credit cards

RAKBANK launches digital on-boarding solution for instant credit cards

New customers who apply for a credit card through the bank’s app will also enjoy a host of benefits, including cashback up to Dhs1,000