UAE's First Gulf Bank reports 11 pct fall in Q4 profit

DUBAI Jan 31 First Gulf Bank (FGB), Abu Dhabi's third-largest lender by assets, reported an 11 percent fall in fourth-quarter net profit on Tuesday but narrowly beat analysts' expectations. FGB, which is being merged with rival National Bank of Abu Dhabi ... ( read original story ...)

Emirates Bank for Volunteering established

Zayed Giving Initiative, ZGI, the UAE Societal Voluntary Programme, and Tadreeb National Training, Tadreeb, have signed an agreement to establish and manage the first specialised bank for volunteers. The bank will target volunteers across community ... ( read original story ...)

UAE Central Bank Board reviews Q4 Report for 2016

ABU DHABI, 31st January, 2017 (WAM) -- The Board of Directors of the UAE Central Bank has reviewed the bank’s Q4 Report for 2016, which covered various banking related issues. The 1st meeting in 2017, held under the chairmanship of Khalifa Mohammed Al ... ( read original story ...)

DFM, ADX indices flat ahead of banks’ financial results

Dubai: The UAE’s main equity indices were relatively flat on Monday, one day before Abu Dhabi’s three biggest banks are set to disclose their financial results for 2016. The Dubai Financial Market (DFM) index inched up 0.34 per cent to 3,678.79. ( read original story ...)

GCC bank profits expected to improve in 2017

Dubai: Profitability of Gulf Cooperation Council (GCC) banks are expected to improve this year after going through a slowdown last year according to banking industry analysts and rating agencies. “Earnings in GCC may show a growth of 5.9 per cent 2017 ... ( read original story ...)

Alternatives thrive as UAE investors cast nets wide

Dubai: The 30-year bond rally as well as a US equity market ... Alternative investment strategies offer a wide range of possibilities — from commercial real estate, hedge funds, private equity, private placement debt to trade finance. ( read original story ...)

UAE residents found it harder to get loans in 2016 – report

The number of UAE residents applying for personal loans dropped in 2016, but it was harder for those who applied to get their loans approved, according to a new report. The report by financial comparison site found that the number of ... ( read original story ...)

UK financial regulator acts on pension scam fears

The UK financial regulator is looking to crack down on domestic and international pension transfers in a move that could give added protection to British investors in the UAE. The Financial Conduct Authority (FCA) has issued an alert over the growing ... ( read original story ...)