#Banking

Investopia

UAE’s Investopia signs partnership with Emirates Development Bank

Both entities will leverage their core competencies to drive economic growth, diversification and industrial transformation

UAE Banks Savings Deposits in Nov 2022

UAE banks record Dhs246.6bn in saving deposits by end of Nov 2022

Saving deposits increased during the first 11 months of 2022 by 1.98 per cent, compared to about Dhs241.82bn at the end of 2021

Banking

Here are the top 5 tools and technologies for smart banking

Technology integration in banking has exposed a whole new spectrum of capabilities that can be leveraged to improve performances by gaining an intricate understanding of operations

Tesla

Dubai Islamic Bank launches financing solution for future Tesla owners

The fully digital financing process will make it easier for Tesla customers to apply for auto financing and improve their buying experience

ADIB increases ownership in ADIB Egypt

Abu Dhabi Islamic Bank raises stake in ADIB Egypt

The bank’s ownership in the Egyptian unit has risen to 52.607 per cent

Saudi Arabia's central bank launches open banking lab

Saudi Central Bank launches Open Banking Lab

The bank is tracking the development of banks and fintechs to ensure their readiness to launch open banking services in Q1 2023

Ajman

Ajman Bank signs strategic partnership with KMMRCE Pay

The partnership equips Ajman Bank with the technology to accelerate its digital transformation and enrich its client offering by adding new payment services

ADGM partners with ADIB, Wio Bank and RAKBANK

Abu Dhabi Global Market partners with ADIB, Wio Bank, RAKBANK to support SMEs

The partnerships with ADIB and RAKBANK will focus on providing ADGM-registered and licensed businesses with preferential banking services

Jamal Al Jassmi

Banking: Why investing in human capital is a key driver of success

Companies need to invest in people as much as they do in technology, as reskilling employees is both cost-effective and offers significant mid to long-term dividends

mashreq posts q3 2022 results

UAE’s Mashreq bank posts net profit of Dhs2.6bn for Q3 2022

The bank’s operating income increased by 24.3 per cent over the previous year to Dhs5.3bn

HSBC

HSBC, Oracle announce strategic collaboration

Under the multi-year agreement, HSBC will upgrade and migrate select database systems to Oracle Exadata [email protected]

ADIB Egypt

ADIB, Simplifi partner to expand Egypt’s digital payment ecosystem

Both the organisations will work together to help companies issue scheme-enabled prepaid cards by reducing cost to launch and time to market

financial services

Banking-as-a-service is transforming the future of financial services

Banking-as-a-service is a revolution that combines the power of banks with the reach and customer loyalty of well known brands

Keeping up with the future of finance

Financial businesses should use a platform to manage their data to keep up with the technological advancements they are currently, or gradually planning on, implementing

ADCB-h1-2022-earnings

ADCB reports 21% rise in net profit to Dhs3.059bn in H1 2022

The bank’s half-year net profit was driven by broad-based growth in net interest income, card fees and trading income underpinned by the economy’s recovery

Standard-Chartered-AME-H1-2022-150303326

Standard Chartered reports H1 operating profit of $581m in MEA region

The bank reported double-digit income growth in the UAE, Pakistan, and Ghana, with Pakistan delivering its highest-ever half-yearly operating profit

FAB H1 2022 results

First Abu Dhabi Bank reports net profit of Dhs8bn in H1 2022

The bank’s total income was Dhs12.5bn, up 31 per cent YoY, including a Dhs3.1bn net gain on the sale of a majority stake in Magnati

DIB reports profit of 2.7 bn in h1 2022

Dubai Islamic Bank net profit rises 45% to Dhs2.7bn in H1 2022

Gross new financing and sukuk investments saw a significant increase of Dhs33bn during the period

mashreq post Dhs1.4bn net profit in H1 2022

Mashreq sees 17% rise in operating profit, posts Dhs1.4bn net profit for H1 2022

The bank reported growth of 8 per cent year-to-date in customer deposits, reaching Dhs109.3bn

ADIB net profits hit 1.4bn dirhams in H1 2022

Abu Dhabi Islamic Bank reports net profit of Dhs1.4bn in H1 2022

The bank’s revenue for the first half of the current year improved by 7 per cent to Dhs2.8bn compared to Dhs2.6bn last year

Kuwait Finance House

Kuwait lender KFH to buy Bahrain’s Ahli United for $11.6bn

The potential combination would create the Gulf’s seventh-largest lender with $115bn in assets

HSBC boosts Saudi investment banking team amid flurry of deals

International banks including Citigroup and Bank of America have been expanding in the kingdom

UAE Bank

Nearly 90% UAE banking customers find account opening too complicated

Identity proofing platform IDnow and YouGov research finds UAE residents are frustrated by bank account applications

EFG Karim Awad

EFG Hermes Holding posts net profit of EGP345m in Q1 2022

EFG Hermes Holding’s sell-side revenues grew by 61 per cent y-o-y to EGP494m supported by revenues from the investment banking and brokerage divisions

Standard Chartered AME Q1 2022 150303326

Standard Chartered reports record Q1 performance in MEA region

The bank saw operating profit rise by 59 per cent in the region, with operating profit for a single quarter crossing $300m for the first time in nearly a decade

AD Islamic bank

Abu Dhabi Islamic Bank to set up asset management firm

The Shariah-compliant lender is also continuing to look at organic and inorganic growth opportunities for its banking business

ADCB Q1 2022 earnings

ADCB reports 32% rise in net profit to Dhs1.48bn for Q1 2022

ADCB reported that its Hayyak onboarding app registered a record number of around 57,000 new customers in a single quarter

uae central bank

UAE gross bank assets increase 0.8% to Dhs3,321.5bn at end of December 2021

Total bank deposits increased by 1.5 per cent, rising from Dhs1,966.8bn at the end of November 2021 to Dhs1,996.5bn at the end of December 2021

UAE’s FAB partners with IBM to accelerate digital transformation

IBM’s team of experts will work with FAB to modernise existing applications and enhance the digital footprint of FAB’s customers

Interview: EFG Hermes’ Karim Awad shares the diversified strategy driving the company’s success

The group CEO, chairman of the executive committee, and member of the board of EFG Hermes Holding, shares the company’s key milestones