The bank recorded a a full year 2020 net profit of Dhs10.6bn
BCG says earnings could shrink by -2.1% annually between 2019 and 2024
The decline was attributed to a substantial increase in impairment provisions and lower operating profit
Total income of Dhs23.2bn improved 4 per cent year-on-year
The structured note which matures in 12 months provides 95 per cent capital protection
Bank plans to quadruple wealth clients in five years
It attracted a total orderbook of around $1.5bn which represents a three times over-subscription rate
JMR’s Genie de Banca digital platform will enable banks and financial institutions to automate and digitise their lending departments, develop new revenue channels, and present their customers with new products and services
The total number of positions that have been eliminated has reached 85,540 globally
International banks have been expanding in Saudi as the country embarks on a plan to diversify its economy beyond oil
Lenders should leverage the use of technology to understand customers’ needs and create a personalised journey for them, says IT firm Comarch
It reported a nine-month net profit from January-September 2020 of Dhs2.802bn, down 33 per cent compared to Dhs4.196bn in the corresponding period last year
Non-performing loan ratio increases from 3.8% in December 2019 to 4.1% in June 2020
Increase in non-performing loans squeezed banks’ profits in the GCC country
Lawyers for Huawei argue HSBC improperly aided the US to indict CFO Meng Wanzhou
BCG survey says 87 per cent of respondents would consider a digital-only bank
Europe’s largest bank has been named as a possible candidate for China’s “unreliable entity list”
Bank Leumi currently holds approximately 30 per cent market share in the Israeli banking system
Its net revenue also declined nearly 11.5 per cent year-on-year to Dhs2.5bn
The directive will encourage banks to strengthen the TESS scheme and support customers in overcoming the impact of the pandemic
The bank had asserted in March that no employees would be made redundant as a result of the Covid-19 pandemic
In February last year, the British bank received approvals from Saudi Arabia’s financial regulator to open a branch in the kingdom
As Covid-enforced social distancing measures became commonplace, Bahrainis turned increasingly online to conduct financial services
The Central Bank of the UAE has said that the support provided to non-profit organisations is expected to increase in 2020
There is a total of $71.09bn sukuk now listed on the exchange
The top five destination countries for remittances were India, Pakistan, Philippines, Egypt and the US
Ashok Aram, who also heads the firm’s international private and commercial bank operations, is departing for personal reasons
Banks are trying to find ways to accommodate growing investment demands from cash-rich clients
Its net loans stood at Dhs247bn and customer deposits at Dhs263bn as of the end of Q1 2020
Last year, Kuwait Finance House offered to buy Ahli United Bank in an all-share deal that was valued at about $8.8bn