Central Bank releases broad regulation aimed at data privacy

On January 1, 2017, the UAE’s Central Bank released a long-awaited regulatory framework for virtual currencies and electronic payment systems, aimed at digital payment service providers (PSPs). The regulation predominantly pertained to data protection ... ( read original story ...)

Emirates NBD unveils digital banking for Millennials

Emirates NBD on Thursday launched Liv., the UAE’s first digital bank targeted at millennials. The new digital banking proposition is part of Emirates NBD’s planned investment of Dh500 million towards digital innovation and multichannel transformation ... ( read original story ...)

ADCB unveils digital age lender uBank

ADCB has become the latest UAE bank to raise its digital game with the launch of its first uBank digital banking centre in Abu Dhabi’s Yas Mall. The uBank centre, unveiled by ADCB yesterday, will enable customers to access key banking services in a ... ( read original story ...)

NBAD tops UAE banks’ fourth-quarter figures

National Bank of Abu Dhabi (NBAD) was the best of a mixed bag of fourth-quarter UAE bank results yesterday, with the overall picture showing a sector that is still coping with a sluggish lending market. NBAD, which is merging with Abu Dhabi lender FGB ... ( read original story ...)

ADCB’s fourth-quarter net profit falls 16%

The Egyptian investment bank EFG-Hermes has forecast that profit at nine UAE banks it covers would fall by 8 per cent year-on-year in the fourth quarter because of a rise in provisions and tighter spreads. It forecast ADCB’s net profit would decline 18 ... ( read original story ...)

Economic challenges push ADCB profits down 16%

Dubai: Abu Dhabi Commercial Bank (ADCB) reported on Tuesday a 16 per cent year-on-year decline in net profit attributable to equity shareholders that reached Dh4.15 billion in the full-year 2016 from Dh4.9 billion in 2015. The figure puts net profit for ... ( read original story ...)

Citi Private Bank eyes 15% growth in UAE revenue this year

Dubai: With $374 billion (Dh1.37 trillion) of assets under management globally, Citi Private Bank (CBP) expects a 15 per cent growth in revevues and assets in the UAE this year, even as it eyes investment opportunities in private equity to fund small ... ( read original story ...)