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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

S&P assigns ‘AA-’ issuer rating to Emirates Development Bank with ‘stable’ outlook

    • EDB has also been assigned a “gcAAA” long-term GCC regional-scale rating

    • EDB CEO Ahmed Mohamed Al Naqbi calls the rating recognition of EDB’s strong financial profile

    The United Arab Emirates’ government-owned Emirates Development Bank has received an “AA-” long-term-issuer credit rating from international credit ratings agency S&P Global Ratings, said local reports on Monday, June 7.

    The agency has also given the bank a “stable” outlook as a borrower, said the reports.

    It has also been assigned a “gcAAA” long-term GCC regional-scale rating, the reports quoted EDB as saying in a statement.

    The rating is a reflection of EDB’s new strategic mandate to support the UAE’s economic diversification plan by enabling individuals, MSMEs, and corporates in priority industrial sectors while promoting innovative technologies to build a knowledge-based economy.

    This follows Fitch Ratings affirming its “AA-” Issuer Default Ratings [IDR] with a stable outlook on EDB in May.

    The S&P Global Rating assessed EDB’s capitalization as very strong positioning the bank for expected rapid lending growth. The outlook reflects the rating agency’s view of the credit standing of the UAE federal government, said the local reports.

    They added that the agency believes the bank is well positioned for growth amidst its commitment to maintain robust capitalization, underpinned by the Federal government’s backing.

    The reports quoted EDB CEO Ahmed Mohamed Al Naqbi as saying: “The ratings are a major milestone and recognition of EDB’s strong financial profile as well as an endorsement of its prudent future growth plans and sound risk management practices.”