Banking & Finance

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Return of Equity (RoE) for Saudi banks is 10 percent whereas U.S. and European counterparts only receive single digit returns (File Archive)
April 14, 2014 - 15:00 GMT
Saudi Arabia's banking sector has outperformed its western counterparts in terms of profitability as well as efficiency in terms of resource utilization.

April 14, 2014

First Gulf Bank
05:45 GMT
(press release)

First Gulf Bank has formally inaugurated new offices for its Treasury and Global Markets Group as well as some divisions of its Wholesale Banking Group, based in Sowwah Square at Al Maryah Island, Abu Dhabi.

Saleem Khokhar, the Head of Equities at NBAD’s Asset Management Group
05:25 GMT

The National Bank of Abu Dhabi’s NBAD MENA Dividend Leader Fund will pay to its investors a semi-annual distribution equal to 2.01% for USD share class.

April 13, 2014

Bank Muscat customers will be able to purchase insurance policies within the network of the bank’s branches
15:03 GMT
(press release)

Bank Muscat today announced that they have entered into a 10-year strategic bancassurance agreement under which AIG will become the exclusive provider of non-life insurance products to Bank Muscat customers in Oman.

Abu Dhabi Commercial Bank
12:42 GMT

In its continued drive to bring banking closer to people’s needs and ambitions, Abu Dhabi Commercial Bank (ADCB) has announced the launch of ‘SimplyLife’, a consumer finance brand specializing in simple, quick and accessible personal finance products.

Bankers are making a bigger effort to improve customer services within UAE banks (File/AFP)
11:30 GMT

A senior banker has said customer service within the banking sector is "complex and difficult," but efforts are being made to change this.

IMG Worlds of Adventure
10:07 GMT
(press release)

Abu Dhabi Islamic Bank has arranged and successfully closed an AED 1.2 billion Syndicated Islamic Facility for IMG Theme Park LLC, the company behind IMG Worlds of Adventure.

April 10, 2014

The ‘Find the Futebol’ app
10:00 GMT
(press release)

Mashreq, a leading financial institution in the UAE, launched an app earlier this March, which has significantly increased audience participation and engagement of their social media channels.

Partnership between Emirates NBD & Zomato
09:41 GMT
(press release)

Emirates NBD, a leading bank in the region, announced today that it has entered into a partnership with popular social restaurant discovery service

April 9, 2014

The scenario's basic assumptions are a reduction in GDP, a sharp rise in the interest rate, a 20% drop in home prices, and a 12% unemployment rate
17:49 GMT

A recession like the one in 2002 would cause 23,000 families to struggle to meet payments.

First Gulf Bank
12:13 GMT
(press release)

First Gulf Bank (FGB), one of the leading banks in the UAE, has announced the launch of a new ‘Insta’ product range from its Bancassurance department.

Emirates Islamic Debit Platinum
10:05 GMT
(press release)

Emirates Islamic unveiled its new range of Shari’a compliant MasterCard Debit Cards, which are tailored to meet the specific needs of various customer segments.

In the United Arab Emirates, where real estate prices are rising at a fast pace, the award of World Expo 2020 has further strengthened growth prospects
07:36 GMT

The International Monetary Fund (IMF) has revised the UAE’s 2014 GDP forecast to 4.4 per cent on the back of rising real estate prices and the Expo 2020 win.

While revenues of banks in Qatar grew by 20 percent and banks in the UAE are back to double-digit growth overall, Saudi, Omani and Bahraini banks are experiencing single digit growth rates.
03:55 GMT

Again, the performance of Middle East banks clearly exceeded that of their international counterparts, a number of which experienced further revenue declines in 2013.

April 8, 2014

Dubai Islamic Bank annual Performance Excellence Awards
12:14 GMT
(press release)

Dubai Islamic Bank (DIB) held its annual Performance Excellence Awards (PEA) ceremony to recognise and reward its employees for their effort in achieving the highest standards in organisational excellence.

08:16 GMT
(press release)

Mashreq Al Islami, the Islamic banking division of Mashreq continued to strengthen its Islamic Products arm with the launch of its flagship Islamic Equity Fund, Al Islami Arab Tigers Fund.