Banking & Finance
May 8, 2013
Abu Dhabi Islamic Bank (Adib), one of the major lenders in the UAE, said yesterday its fiscal first quarter net profit rose 10.7 per cent on year to Dh340.1 million while its total assets increased 15.9 per cent year-on-year to Dh88.7 billion and net customer financing rose 8.9 per cent to Dh54 billion.
May 7, 2013
The Central Bank of Bahrain (CBB) announced yesterday (Monday: 6 May 2013) that this week’s BD35 million issue of Government Treasury Bills has been oversubscribed by 297%.
Dubai Islamic Bank has announced that it has won the Dubai Human Development Award at the 18th Business Excellence Awards.
Continuing its leadership position in the credit cards space, leading financial institution Mashreq launched the First Everyday Card in the UAE.
Visa cardholders spent $4.7 billion on their cards while visiting the UAE in 2012.
May 6, 2013
Investments in the Dubai World Central projects reached Dh22 billion to date, according to Khalifa Al Zaffin, executive chairman of the Dubai Aviation City Corporation, who did not provide a breakdown of the spending.
Gulf Capital announced yesterday that it had signed a SR 450 million ground-breaking financing facility deal with National Commercial Bank (NCB). The ten-year facility will help finance Gulf Related’s first real estate development in the Kingdom.
Dubai government reaffirmed its commitment to deal with the repayment obligations and said the emirate redeemed Dh3.3 billion bonds due last month on maturity date, according to a statement issued on Sunday by the Dubai media office.
The bank recorded strong growth in net profit and net income compared to its first quarter in 2012
Emirates Islamic Bank announced 101 per cent increase in net profit for the first quarter of 2013. Net profit for the period reached AED 33.2 million, compared to AED 16.5 million for the same period in 2012.
Gulf Bank has announced that it has been awarded Deutsche Bank’s prestigious ‘EURO Straight-Through Processing Excellence Award’ for 2012 for its swift payments in Euros.
The International Bank of Qatar sponsored the Oryx Football Team of the Lycée Français Bonaparte School in Qatar for the second year running.
UAE Exchange today said that it has bagged two prestigious awards - Dubai Quality Award in Financial Services category and Best Service Performance Brand under Dubai Service Excellence Scheme.
Dubai Islamic Bank (DIB) has embarked on a roadshow of 30 schools in the UAE, to educate school children on the importance of financial responsibility from an early age.
Gulf Bank, along with VISA International, are offering the Bank’s VISA cardholders special packages through OSN, the leading Pay-TV network in the Middle East and North Africa.