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FAB delivers record Q1 results; 23% rise in net profitFirst Abu Dhabi Bank (FAB) delivered record results for the first quarter of 2025, with group net profit of AED5.13 billion ($1.4 billion), up 23% year on year, and group profit before tax reaching AED6.13 billion, up 22% year on year. This outstanding f More… |
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UAE entities to launch dirham-backed stablecoinThe UAE's IHC, ADQ, and First Abu Dhabi Bank (FAB) have announced plans to launch a new stablecoin backed by Dirhams, which will be fully regulated by the Central Bank of the United Arab Emirates (CBUAE) and issued by the UAE’s largest bank, FAB (subject to regulatory approval). More… |
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Oman projects 3.4% economic growth for 2025Oman’s GDP is expected to grow by 3.4% this year, outperforming many global economies — a testament to the resilience of the national economy and international market confidence, said Qais bin Mohammed Al Yousef, Minister of Commerce, Industry, and Investment Promotion. More… |
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RGA sets new design criteria for Saudi roundaboutsSaudi Arabia's Roads General Authority (RGA) has unveiled the design criteria for safe roundabouts, in accordance with the Saudi Road Code. The Authority emphasised the need for adequate road width to accommodate all types of vehicles, including heavy truc More… |
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Arab Bank Group profits grow 7% to $271m in Q1Arab Bank Group has reported solid results for the first quarter of 2025, with 7 % increase in net income after tax reaching $ 271 million, compared to $252.8 million for the same period last year. The group maintained its strong capital base with a tota More… |
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Saudi non-oil export soars to record $140bn in 2024Saudi Arabia's non-oil exports reached an unprecedented SAR515 billion ($140 billion) in 2024, marking the highest value in the kingdom's history. This achievement represents a significant 13% increase compared to the previous year and an impress More… |
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Ebdaa CEO named World Union of Arab Bankers memberThe World Union of Arab Bankers (WUAB) has announced the appointment of Dr. Khalid Al-Ghazzawi, the Chief Executive Officer of Ebdaa Microfinance Company – Bahrain, as a member of its Board of Directors for the Union’s sixth term running from May 1 to April 30, 2028. More… |
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NBB seals strategic deals with top developers at Bahrain summitThe National Bank of Bahrain (NBB) has signed five MoUs with prominent real estate companies during its participation in the recent Innovation Summit in Social Housing 2025. The summit, which concludes tomorrow (April 25) at the Exhibition World Bahrain More… |
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Emirates NBD assets top AED1 trillion milestoneEmirates NBD’s profit before tax rose 56% to AED7.8 billion ($2.12 billion) as strong lending momentum, an improvement in deposit mix and new products drove an 11% year-on-year increase in income. The balance sheet surpassed the AED1 trillion miles More… |
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Islamic finance sector resilient amid upcoming headwinds: S&PStrong banking and sukuk industry performance led to 10.6% growth for the global Islamic finance industry in 2024, with total sukuk outstanding surpassing $1 trillion for the first time, according to S&P Global Ratings. In 2025, amid increased uncertainty, More… |
