The UAE’s largest bank, First Abu Dhabi Bank, announced Thursday it scooped record annual net profit of $3.4 billion in 2021, a 19 percent increase over the previous year.
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UAE’s biggest bank FAB hits record Dh12.5b net profit, while assets soar past Dh1 trillion
Dubai: It is a record profit for the UAE’s biggest bank, FAB, totalling Dh12.5 billion against 2020’s Dh10.6 billion as the country’s leading financial institutions rollback on the COVID-19 …
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Dubai regulator issues massive fine on Abraaj founder
A regulatory body in Dubai is fining the Pakistani-born founder of Abraaj Group a staggering penalty of $135.5 million …
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UAE’s biggest bank FAB hits record Dh12.5b net profit, while assets soar past Dh1t
Dubai: It is a record profit for the UAE’s biggest bank, FAB, totalling Dh12.5 billion against 2020’s Dh10.6 billion as the country’s leading financial institutions rollback on the COVID-19 …
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Most major Gulf markets up, strong bank earnings boost Dubai
Most major gulf index ended higher on Wednesday, with the Saudi market extending gains on the back of a global rally and oil prices, while the Dubai index was up after banks reported sharply higher …
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UAE – Emirates NBD net profit jumps 34% to Dh9.3 billion
Dubai’s largest bank Emirates NBD’s net profit jumped 34 per cent to Dh9.3 billion in 2021 on the back of higher total income and decreased impairment allowances. In light of the group’s strong …
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Dubai largest bank profits jump in 2021
Dubai’s largest bank, Emirates NBD, announced Wednesday that its net profits jumped in 2021, as the economy of the Gulf city state rebounded following a slump due to coronavirus.
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Adnoc named UAE’s most valuable brand worth Dhs47b
Adnoc maintained in 2022 its position as the UAE’s most valuable brand for the fourth consecutive year, according to a new report from Brand Finance, the world’s leading independent brand valuation …
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UAE begins financing risks assessment to tackle funds for banned weapons
The UAE on Wednesday said it was assessing risks that funds for banned weapons could be funnelled through the regional commercial and trade hub, ahead of a FATF review in March. The UAE and the …
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Dubai largest bank profits jump in 2021 as economy rebounds
Dubai’s largest bank, Emirates NBD, announced Wednesday that its net profits jumped in 2021, as the economy of the Gulf city state rebounded following a slump due to coronavirus. The bank, the second …
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UAE: Employers now have option to pay domestic workers’ wages through banks, exchange houses
Dubai: Employers of domestic workers in the UAE can now pay the wages through banks, exchange offices and approved financial institutes that are authorised by the UAE Central Bank. There will be …
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ADNOC named UAE’s most valuable brand for fourth consecutive year
implementing three successful IPO subscriptions to ADNOC Distribution, ADNOC Drilling, and Fertiglobe, among other programmes. In line with the leadership directives, Dr. Al Jaber, in his capacity as …
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UAE’s anti-money laundering and terrorism financing unit seized Dh2.3bn in 2021
A UAE task force set up to snare money launderers and criminals financing terrorism seized more than Dh2 billion in illicit funds in its first year. The Executive Office of Anti-Money Laundering and …
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UAE discussing defence upgrade after Houthi attacks- envoy to U.N.
The United Arab Emirates may upgrade its defensive capabilities after missile attacks by Yemen’s Iran-aligned Houthi group, while continuing diplomacy with Tehran to reduce regional tensions, a senior …
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UAE’s Etisalat and Adnoc ranked among world’s strongest brands
Etisalat has been ranked as the world’s strongest telecom brand and the first in the Middle East and Africa region while Abu Dhabi National Oil Co. (Adnoc) maintained its position as the UAE’s most …
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Dubai Islamic Bank posts 39% rise in net profit for 2021
Dubai Islamic Bank recorded a 39 per cent year-on-year increase in net profit for 2021, totaling Dhs4.406bn versus Dhs3.16bn earned during a year-earlier period. Last year, operating revenues declined …
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Dubai Islamic Bank’s net profit up 39% to Dh4.4 billion
Dubai: Dubai Islamic Bank (DIB), reported a net profit of Dh4.4 billion for the full year 2021, up 39 per cent year on year. “Despite the on-going global market uncertainties, the UAE banking sector …
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