Washington, United States - The US Federal Reserve on Wednesday held interest rates steady for a sixth straight meeting, keeping the level at a 23-year high to fight stubborn price increases. After a two-day gathering, the central bank decided unanimously to keep the benchmark lending rate unchanged at 5.25-5.50 percent, citing...
Emirates Islamic net profit $218m
Higher non-funded income, reduction in the cost of risk push profits up.Apicorp to allot $1bn for green energy
The bank will make the investment over the next two years.
Abu Dhabi Judicial Department pulls up banks over loan guarantees
Failing to take guarantees is a violation of the requirements and controls regulating the granting of loans, said the department.
Kuwait International Bank completes sale of NMC Health debt
Kuwait International Bank said it has completed the sale of its exposure in troubled UAE healthcare group, NMC.
Saudi British Bank posts $245m net profit in Q2, year after big losses
A year after posting billions in losses, Saudi British Bank (SABB), an affiliate of HSBC Holdings, has posted a sizeable net profit of $245 million in the second quarter of 2021.
Emirates NBD’s first half profit rises 17% to Dh4.8 billion
Total income of the Dubai’s largest bank has jumped 9 percent over the preceding half year due to a marked increase in transactions and stable Net Interest Margins.
ADCB’s H1 net profit surges 76% to AED 2.524 billion
Abu Dhabi Commercial Bank has reported a 76 per cent jump in first-half net profit to AED2.524 billion on the back of higher fee income, lower cost of funds and improved cost to income ratio.
Qatar Investment Authority deals a blow to Credit Suisse, lowers stake
The QIA now hold a below five-percent stake in the Swiss bank Earlier it held about 133 million shares, making it the bank’s biggest shareholder In yet another crushing blow to the standing of Credit Suisse, the Qatar Investment Authority (QIA) has lowered its stake in the bank to below...
Qatar’s Ahli Bank looks to raise up to $500 million via bonds
The bank is bucking the trend of Additional Tier 1 bond issued There have been relatively few senior bond sales from banks this year in the Middle East Although there have been very few senior bond sales from banks in the Middle East, with the focus being mainly on Additional...
Abu Dhabi Police warns against fraud, scam calls requesting bank data
The police have warned people not to fall for small text messages that simulate government institutions Fraudsters obtain information about an individual's bank account and then steal their money The Abu Dhabi Police have warned people against a slew of cybercrimes that target people in the name of government...
Egypt lends $9.87 billion in loans to low-income customers to own homes
More than 350,000 customers benefited from the scheme launched seven years ago The National Bank of Egypt topped banks that provided the most funding for low-income people Seven years after Egypt began to offer loans to low-income families to own homes, Egyptian banks and mortgage finance companies have...
Saudi Arabia National Housing and Bank Albilad in $533 m deal for infrastructure
The deal is part of the Saudi Vision 2030 to give more ownership of homes to Saudi families CEO Bank Albilad Abdullah AlOnaizan said the bank has assets of $26.66 billion Saudi Arabia National Housing Company and Bank Albilad have teamed up to sign a SR 2 billion ($533 million)...
SFD signs a $10m export financing agreement with the National Bank of Iraq
SFD has signed an export financing agreement with the National Bank of Iraq to provide credit facilities to help importers in Iraq The National Bank of Iraq a subsidiary of the Capital Bank Group Iraqi importers who seek to import Saudi products and services are getting a $10-million leg-up...
