UAE banking sector reports another soft quarter

Dubai: The UAE banking sector reported another soft quarter with a general decline in earnings driven by higher credit costs, somewhat higher provisioning while most banks say the worst is behind them. Amid the overall subdued trend in credit growth and ... ( read original story ...)

Blockchain to revolutionise UAE’s financial services

Dubai: Blockchain technologies have the potential to revolutionise the rapidly growing financial services sector in the UAE and broader GCC region, according to a new report from Booz Allen Hamilton, titled Blockchain: Application to Financial Services in ... ( read original story ...)

Desktop banking trumps mobile in UAE

Traditional online banking done through a bank's desktop website is still proving to be the more popular alternative to mobile banking amongst UAE residents, a survey by compareit4me.com has found. The survey, which compiled responses from almost 400 UAE ... ( read original story ...)

Market analysis: UAE bank equities a sound investment

Mena equity investors have had a stormy year so far. We have seen decent swings in both directions, but despite the volatility, Mena equities are now where they started the year, although some countries and sectors have fared better than others. While ... ( read original story ...)

UAE bank deposits up by Dh30b

Abu Dhabi: Total bank deposits in the UAE increased by Dh30.2 billion in September 2016 due to an Dh11.4 billion increase in resident deposits and an Dh18.8 billion increase in non-resident deposits, the Central Bank of the UAE said. Banks in the UAE have ... ( read original story ...)

Majority in UAE feel more financial pressure than …

Residents in the UAE feel they are under greater financial pressure and have to take more risks with their money, research by HSBC has found. This is despite the fact that many residents believe there are more choices in their life today. HSBC's latest ... ( read original story ...)

CBD posts Dh701.5m in nine-month net profits

Dubai: Commercial Bank of Dubai (CBD) posted a net profit of Dh701.5 million for the first nine months of 2016, 23.4 per cent lower compared to Dh915.3 million for the same period last year. The bank attributed the decline in profit to prudent provisioning. ( read original story ...)