#Banking

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

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

Saudi Arabia banking sector

How Saudi Arabia’s banking system is building a solid future

Saudi banks stand to remain on a profitable path in 2023 with corporate lending continuing to drive credit growth in the sector

Mubadala, ADIB deal

Mubadala offloads 7.6% ADIB stake to National Holding

The state investor said the deal is in line with its strategy to create long-term value by optimising a global portfolio of investments

Abu Dhabi's Khalifa Fund, AlMaryah Bank to provide digital banking services

Abu Dhabi’s Khalifa Fund, AlMaryah Bank to provide digital banking services to SMEs

The bank will provide exclusive benefits to Khalifa Fund members in accordance with the agreement

UAE Banks Federation signs off on strategic plan and goals photo WAM

UAE Banks Federation approves strategic plan to boost banking sector

The plan will see 5,000 UAE nationals employed in the banking and financial sector by 2026

RAKBANK

RAKBANK more than doubles net profit to Dhs450m in Q1 2023

RAKBANK reported a record total income of Dhs1.07bn for the first quarter

Emirates NBD q1 2023 results

Emirates NBD profit more than doubles to Dhs6bn in Q1 2023

Emirates NBD also enjoyed a record quarter for income, which exceeded Dhs10bn for the first time ever

Added Wio bank photo courtesy WAM

Wio Bank, Abu Dhabi Department of Economic Development partner to supports SMEs

This partnership will help fast-track the account opening process for SMEs and deliver seamless banking services through the Wio Business app

AD Ports Photo WAM

UAE’s AD Ports Group secures $2bn syndicated corporate facility

The multi-currency facility, equivalent to around $2bn, includes three tranches amounting to EUR600m, $620m, and Dhs2,863m with a tenure of up to 2.5 years

Regional banks

Should regional banks buy or build their innovations?

In the early years of the digital era, building was the only option, but today the region is strewn with fintechs

Silicon Valley Bank UK

HSBC acquires Silicon Valley Bank UK for less than Dhs5

The assets and liabilities of the parent companies of SVB UK are excluded from the transaction