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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.

UAE residents got $91.4 billion in personal loans

  • The country's banking sector’s assets reached AED 3.2 trillion in June 2021, up by 0.6 percent compared to a year earlier.
  • Total deposits also went up by 2.3 percent to AED 1.9 trillion during the same period.

DUBAI: Loans amounting to AED 336.5 billion ($91.4 billion) have been extended to UAE residents in June 2021, up by 3.6 percent from AED 324.7 billion a year ago when high unemployment numbers due to Covid-19 pandemic had caused a slowdown.

Media reports citing the latest UAE Central Bank data also said compared to March 2021, personal loans were up 1.7 percent. Gross credit, which includes loans to residents and non-residents and non-banking financial institutions, reached AED 1.76 trillion, down by 1.2 percent compared to the same period last year, but up by 0.9 percent compared to March, the reports said.

As part of UAE’s government’s initiatives to lessen the impact of the pandemic, the central bank had launched an AED 100 billion support program to help retail and corporate customers affected by the outbreak.

Complementing the bank’s efforts was an AED 3 billion stimulus package to the SME Credit Guarantee Scheme announced by the Abu Dhabi Executive Council. Dubai government also unveiled an AED 1.5 billion package to boost liquidity.

The central bank also said the country’s banking sector’s assets reached AED 3.2 trillion in June 2021, up by 0.6 percent compared to a year earlier. Total deposits also went up by 2.3 percent to AED 1.9 trillion during the same period.