Friday 19 July 2019

UAE’s national bank assets hit $457bn in H1

Total assets of the UAE’s six national banks totalled Dh1.68 trillion ($457 billion) in the first half of 2019, an increase of Dh170 billion ($46.2 billion), or 11.2 percent, compared to Dh1.51 trillion in the same period of 2018. The sector’s activity is highlighted


Bahrain-origin exports rise 6pc to top $1.5bn in Q2

The value of Bahrain’s exported national origin products increased by 6 per cent in the second quarter (Q2) of the year, reaching BD595 million ($1.56 billion) versus BD561 million for Q2 2018, said the iGA in a new report. The value of Bahrain’s exported national ori


SWIFT launches enhanced gpi service for corporates

SWIFT, a global leading provider of secure financial messaging services, has announced the further enhancement of its gpi service with the full go-live of SWIFT gpi for corporates. The capability is designed and built in conjunction with banks and corporates which enables multi-b


FAB posts record H1 net profit of $1.7bn

First Abu Dhabi Bank (FAB) has reported a record half year net profit of Dh6.3 billion ($1.7 billion), up 4 per cent year-on-year, driven by revenue growth, coupled with continued cost control and prudent risk management. According to its financial results for the first half ende


Emirates NBD H1 net profit surges 49pc to top $2bn

Dubai-based Emirates NBD (ENBD), a leading bank in the region, delivered a strong set of results for the first half of the year with net profit up 49 per cent year-on-year (y-o-y) to Dh7.5 billion ($2.04 billion). The results include a gain on disposal of a stake in Network Inter


Emirates Islamic H1 net profit jumps 39pc to $183m

Emirates Islamic, one of the leading Islamic financial institutions in the UAE, has reported a net profit of Dh673 million ($183 million) for the first half of 2019, an increase of 39 per cent year-on-year (y-o-y). The strong set of results were supported by balance sheet growth,


Dubai Islamic H1 net profit soars 13pc to $735m

Dubai Islamic Bank, the largest Islamic bank in the UAE, has posted a net profit of Dh2.753 billion ($749 million) for the first half (H1) of the year, as against Dh2.441 billion in H1 2018, marking a year-on-year (YoY) rise of 13 per cent. Total Income increased to Dh6,982 milli


UAE, Gambia sign tie-up to boost investments

The UAE, represented by the Ministry of Finance (MoF), recently signed an agreement to encourage and protect mutual investments with Gambia at the ministry's headquarters in Abu Dhabi. Obaid Humaid Al Tayer, Minister of State for Financial Affairs of the UAE, and Mamboury Nji


Lagarde resigns as IMF chief

International Monetary Fund (IMF) chief Christine Lagarde announced on Tuesday she had submitted her resignation from the global lender. She said she had more clarity about her nomination to be the next head of the European Central Bank (ECB), reported Emirates news agency Wam, c


Standard Chartered seals partnership deal with UAE Exchange

Standard Chartered Bank has signed a strategic partnership agreement with leading financial services brand  UAE Exchange to further strengthen their relationship and provide cash management services. The new partnership will enable the corporate clients of Standard Chartered

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