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Banking & Finance

GM reports US sales dip, that of EVs grew

The big Detroit automaker reported 659,601 US sales during the period.

Covestro accepts ADNOC takeover bid

The deal values German chemicals group at $13.3bn.

Masdar acquires Saeta Yield

The deal is estimated to be valued at $1.4 billion.

Boeing lifts wage hike to 30% 

The 30% general wage hike improves upon the 25% in the earlier offer.

ADNOC Distribution H1 dividend $350m

The total dividend for 2024 is expected to be $700 million.

ADCB approves cash dividends worth US$1.1bn  

ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash...
  • ADCB’s physical-cum-virtual 40th Annual General Assembly meeting approved the decision.
  • The Board of Director’s proposal means distributing cash dividend of $0.15 (AED0.56) per share.

Nationwide offers to buy Virgin Money

Nationwide has offered US$3.7 billion for Virgin Money.
  • Nationwide management believe the transaction will broaden and deepen its products and services faster than could be achieved organically.
  • The deal remains subject to due diligence and approvals from Virgin Money shareholders as well as Nationwide's borrowers and depositors.

Trailblazing women transform finance in Arab world

Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
  • Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
  • The leadership of these daring females not only drives economic growth but also inspires a new generation of women to pursue careers in finance in the region.

ADIB 2023 net profit $1.4bn

The bank achieved a Return on Equity of 27.1 percent.
  • ADIB achieved record-breaking performance in 2023, with significant growth across all its businesses.
  • Enhancing its digital presence, the bank saw a rise in actively digital customers through improvements to its mobile app.

Digital transfers reshape MENA’s financial landscape

The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...
  • The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong commitment to financial inclusion, says a report.
  • COVID-19 expanded the diaspora's role in digital payments, boosting prepaid services and accelerating the shift from cash to digital via cryptocurrencies and blockchain.

QFC signs two MoUs

MoUs with BFB, Partior were inked during Web Summit 2024.
  • The MoU with Bahrain FinTech Bay establishes comprehensive frameworks for cooperation in joint research projects.
  • Under the MoU, each entity shall provide support, assistance and resources to start-ups from the QFC and BFB.

UAE banks ride on growth, operational efficiencies

The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a...
  • The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a latest report.
  • Despite global economic challenges and geopolitical uncertainties, prudent risk management has positioned UAE banks for continued success, it adds.

EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn

ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...
  • EDB’s flexible financing solutions and patient debt approach have significantly bolstered industrial growth.
  • EDB has approved $353 million in financing under the Credit Guarantee Scheme with partner banks in UAE.

UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023

ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
  • The aggregate capital and reserves of UAE-based banks increased 12.3 percent or US$14.4 billion during the first 11 months of 2023
  • National banks accounted for 86.5 percent of the total capital and reserves of UAE-based banks logging $113 billion by end of November 2023

Bank plays crucial role in funding sustainable future

"We continue to capitalize on the promising opportunities in this market through innovative offerings and solutions, while strengthening our substantial...
  • ADIB launches a framework aimed at supporting environmental protection and social justice projects.
  • The Abu Dhabi-based bank is first global financial institution to issue US dollar-denominated green sukuk.

CBI, zypl.ai ink partnership

The pact aligns with CBI’s plan to support innovation in UAE.

Latest News

Trailblazing women transform finance in Arab world

Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.

ADIB 2023 net profit $1.4bn

The bank achieved a Return on Equity of 27.1 percent.

Digital transfers reshape MENA’s financial landscape

The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...

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UAE banks ride on growth, operational efficiencies

The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a...
  • The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a latest report.
  • Despite global economic challenges and geopolitical uncertainties, prudent risk management has positioned UAE banks for continued success, it adds.

EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn

ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...
  • EDB’s flexible financing solutions and patient debt approach have significantly bolstered industrial growth.
  • EDB has approved $353 million in financing under the Credit Guarantee Scheme with partner banks in UAE.

UAE-based banks aggregate capital, reserves reach US$131bn by end of November 2023

ABU DHABI, UAE- The aggregate capital and reserves of banks operating in the UAE increased 13.3 percent, reaching US$131 billion...
  • The aggregate capital and reserves of UAE-based banks increased 12.3 percent or US$14.4 billion during the first 11 months of 2023
  • National banks accounted for 86.5 percent of the total capital and reserves of UAE-based banks logging $113 billion by end of November 2023