The lowered rating followed the sizeable increase in non-performing loans (NPLs) in 2017 and in Q1 2018, which has led to a significant decline in the loan-loss reserve (LLR) coverage ratio and the im…
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UAE private wealth forecast to grow to $590bn by 2022
It said UAE non-investible assets are expected to increase at an … senior partner & managing director of BCG Middle East’s Financial Services practice. “Value creation opportunities touch all parts …
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UAE private wealth growth expected to grow over next five years
Global personal financial wealth grew by 12 per cent in 2017 to $201.9 … Going forward personal wealth in the UAE is projected to continue to grow at a compound annual growth rate (CAGR) of eight pe…
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UAE bank saver gets Dh1 million reward
Dubai: A UAE resident just proved that buying expensive lottery tickets isn’t the only way to get rich quick, but putting money in a bank account, too. Khalid Ahmed Al Marzooqi woke up to a surprise r…
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Bank of Sharjah posts Dh200m H1 net profit
Dubai: Bank of Sharjah on Tuesday reported Dh200 million net profit for the first half of 2018, up 31 per cent from Dh152 million for the same period last year. The bank’s total comprehensive income f…
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UAE’s largest bank sees half-year net profit jump to $1.6bn
First Abu Dhabi Bank (FAB), the UAE’s largest bank, on Tuesday reported net profit of AED6.1 billion ($1.6 billion) for the first six months of 2018, up 10 percent year-on-year. The bank also announce…
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Dubai Financial Market sees 43% slump in half-year net profit
Dubai Financial Market (DFM) on Monday announced a net profit of AED82.8 million ($22.5 million) for the first six months of 2018, down 43 percent on the year-earlier period. The company said net prof…
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SABIC deal lets Saudi Arabia delay Aramco IPO, spend on growth: sources
DUBAI (Reuters) – A proposed reshuffle of state assets would … A major goal of the planned Aramco listing – which was initially slated for the end of 2018 and could prove the biggest IPO in history …
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UAE targets 1,500 Emirati jobs in banking, finance sectors
The UAE’s Ministry of Human Resources and Emiratisation has announced the launch of an initiative in partnership with the central bank to boost the employment of Emiratis in the banking and finance se…
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Banking a challenge for 65 per cent of UAE SMEs, study shows
Almost two-thirds of entrepreneurs consider banking their first challenge when setting up a business with funding the second biggest obstacle, according to a new UAE government study released on Sunda…
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Little cheer for Dubai as market pain continues
Dubai: The underperforming Dubai Financial Market (DFM … in the wake of Emaar Development’s initial public offering (IPO). Now, corporate governance issues emanating from Abraaj, which has been accu…
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Green car finance market revs up in the UAE
The green auto loan market has ramped up after two new players launched eco-friendly car finance products to encourage customers to buy hybrid or electric vehicles as part of the UAE’s 2021 Sustainabi…
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Noor Bank strategy to become world class Sharia bank
Dubai: Noor Bank after undergoing a recent management overhaul is working on a strategy to emerge as one among top ten contemporary Islamic banks in the world. The focus of the new team that took char…
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Noor Bank rolls out new proposition for the affluent
Dubai: Noor Wealth, a wealth management proposition by Noor Bank tailored to meet the personal and business financial needs of high-net-worth individuals (HNWIs), is a key pillar of the bank’s new ret…
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Dubai’s HBMSU to host China-UAE conference on Islamic banking in November
This year’s event is being organised under the theme, ‘The potential for participative economy and financial system: growth, development, integration, and cooperation’. The conference is strategically …
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UAE entrepreneurs face ongoing banking challenges, solutions proposed
A study from Dubai Chamber of Commerce and Industry (Dubai Chamber) conducted in coordination with the UAE Ministry of Economy, Council of Small and Medium-Sized Enterprises and global consultancy fir…
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Dubai Islamic Bank partners with Emirates Skywards
Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, has partnered with Emirates Skywards to launch a co-branded credit card that allows users to earn Skywards Miles and receive other added …
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