Tuesday 28 June 2016
 
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UAe bank

Mashreq posts $653m net profit in 2015

Mashreq, one of the leading financial institutions in the UAE, said it has maintained a steady performance in 2015 amid difficult market conditions with a solid net profit of Dh2.4 billion ($653 million) over the previous year. An

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Senior trio leave top UAE bank NBAD

Three senior bankers have resigned from National Bank of Abu Dhabi (NBAD), the UAE's largest bank by assets, sources aware of the matter told Reuters. Gary Dugan, chief investment officer and head of investment strategy, left

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Al Ghurair gets lifetime achievement award

Leading UAE bank Mashreq said its CEO AbdulAziz Al Ghurair has been honoured with the 'Lifetime Achievement Award' at the inaugural Gulf Business Industry Awards 2012 ceremony held in Dubai. The awards recognize the very b

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NBAD launches Malaysian operations

The National Bank of Abu Dhabi (NBAD) has announced the launch of its wholly-owned subsidiary National Bank of Abu Dhabi Malaysia in capital Kuala Lumpur. It is the bank's first branch in Southeast Asia. With this launch, NBAD has expa

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Kuwait's Global wins $250m UAE case

Kuwait's Global Investment House said it has won a long-running legal battle over an aborted buy of a stake in National Bank of Umm Al Qaiwain after an appeals court ordered the Abu Dhabi-listed bank to return its deposit plus interest.

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Emirates NBD launches personal loan variants

Emirates NBD, a leading bank in the region, has launched three new variants of its personal loan offering to customers aimed at enhancing their access to finance and boost the bank's loan portfolio. These new options significantly ease

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Abu Dhabi Islamic net profit up 12.8pc

Abu Dhabi Islamic Bank (ADIB) said its group net profit for 2011 surged 12.8 per cent to hit Dh1.16 billion ($316 million) compared to Dh1.02 billion the previous year. Announcing the results, the Islamic bank said the group net revenue to

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Al Mal Capital shuts Saudi office

UAE investment bank Al Mal Capital has shut down its Saudi office following a winding down of its brokerage unit and a broad staff layoff at its head office, two people familiar with the matter said. A statement posted by the firm on the S

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Emirates NBD fund nets over $100m

Top UAE bank Emirates NBD said the Islamic money market fund of its asset management unit has attracted more than $100 million from investors in the 18 months since launch. The Emirates Islamic Money Market Fund is part

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Commercial Bank net income up 14pc

UAE-based Commercial Bank International said its net interest income for the first nine months increased by 14.1 per cent to Dh290.64 million compared to Dh254.77 million achieved in the same period last year. Announcing the results for th

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