Dubai-based Mashreq Bank’s Q1 2022 net profit soared to 606 million dirhams ($165 million) compared to 43 million dirhams in Q1-2021, driven by a sharp drop in impairments. The earnings easily topped …
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Mashreq Bank participates in 1 Billion Meals initiative
The 1 Billion Meals initiative, organized by Mohammed bin Rashid Al Maktoum Global Initiatives (MBRGI), is an extension of last year’s 100 Million Meals, which surpassed its target, collecting and dis …
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Americana picks Goldman Sachs, FAB, SNB Capital to handle IPO
Logo ofAmericana Americana has appointed Goldman Sachs, First Abu Dhabi Bank, and SNB Capital to manage its initial public offering (IPO) tha …
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Tradeling launches another fulfilment centre as part of its expansion strategy in the UAE
Its second fulfilment centre in Dubai aims to meet market demand following the growth it witnessed in Q1 of this year …
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Mashreq Bank’s Q1-2022 net profit weighs in with a robust Dh606m on higher interest income, fees
Dubai: Mashreq Bank reported an operating income of Dh1.6 billion for Q1-2022, a gain of 11 per cent from a year ago, derived in large part by improved net interest income and tha …
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Dubai court tells bank to pay Dh9.5m to customer that he lost in unauthorised transactions
A court in Dubai has ordered a local bank to pay Dh9.5 million ($2.5m) to a customer after he lost that amount in unauthorised transactions. The court heard how he was the victim of a Sim swap after …
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Dubai Islamic Bank’s first quarter net profit jumps 58% on lower impairment charges
Dubai Islamic Bank, the UAE’s biggest Sharia-compliant lender by assets, reported a nearly 58 per cent rise in first quarter net profit driven by lower impairment charges and higher operating revenue, …
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UAE’s Dubai Islamic Bank Q1 net profit up 58% on lower impairments
Dubai Islamic Bank, the UAE’s largest Islamic lender, posted a 58 percent jump (y-o-y) in its Q1 2022 net profit at 1.34 billion dirhams ($365 million), driven by lower impairments and a stronger top …
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Dubai Islamic Bank 1st Quarter 2022 Group Financial Results
Dubai Islamic Bank (DFM: DIB), the largest Islamic bank in the UAE and the second largest Islamic bank in the world, today announced its results for the …
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Dubai Islamic Bank’s total income at over Dh3b for Q1-2022
Net profit shoots up 58% as DIB numbers reflect all-round gains for UAE banks Dubai: Net profits at Dubai Islamic Bank are up a substantial 58 per cent to Dh1.3 billion for the first three months, …
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UAE’s 2022 GDP growth could even hit 6.3% on higher oil, says IIF
IIF forecasts much higher growth for UAE than IMF’s latest estimates Dubai: GDP growth for the UAE economy could hit 6.3 per cent in real terms to $483. 4 billion this year, according to Institute of …
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UAE: Bank ordered to pay customer over $700,000 after SIM card swap fraud
The court ruled that the transfers would not have happened if the personal details of the client were not leaked …
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Higher oil prices boost UAE banks’ liquidity
The UAE banks have strong liquidity with liquid assets at 38 per cent of total assets as of December 2021, up from 36 per cent as of December 2020, …
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Rashid Ali bin Obood appointed CEO of public debt management in Dubai’s finance department
Dubai: Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, has appointed Rashid Ali bin Obood Al Falasi as the CEO of Public Debt Management …
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Moelis Wins Role on Third Dubai Listing With Empower Mandate
Moelis & Co. to work on its initial public offering that’s planned for later this year, according to people familiar with the matter. Known as Empower, the company has been working with Moelis on …
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UAE: Bank ordered to pay customer Dh9.5 million after SIM card swap fraud
The court ruled that the transfers would not have happened if the personal details of the client were not leaked …
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Dubai free zone operator Tecom plans book-build for IPO
Tecom, which operates Dubai’s internet and media cities, will also list on DFM Dubai: Dubai’s Tecom Group, the business park operator that houses offices of more than 6,000 companies, approved a plan …
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