We are in the process of developing and improving our website, and we invite you to participate in our brief survey to measure the level of your satisfaction
Satisfaction Survey For UAE Interact Website
رغبة منا بالتعرف على مستوى رضاكم عن موقعنا وبهدف تطويره وتحسينه، فقد قمنا بتصميم استبيان سريع لقياس مدى الرضا عن موقع دولة الإمارات العربية المتحدة روعي في تصميم الاستبيان أن يكون قصيرا وسريعا كي لا نطيل عليكم، وعليه نرجو منكم التكرم باستكماله عن طريق الرابط التالي
استبيان رضا المتعاملين عن موقع دولة الإمارات العربية المتحدة

THE ECONOMY - BANKS

Sharp rise in H1 deposits at UAE’s largest banks

Posted on 03/08/2010

The UAE's largest eight banks recorded a sharp rise in deposits in the first half of 2010 but the increase failed to tempt them to ease lending curbs introduced after the 2008 global fiscal distress, their balance sheets have shown. Customer deposits with those banks surged by around 12.7 per cent at the end of June compared with the end of 2009 but loans and advances edged up by only around 0.6 per cent in the same period. From Dh571 billion at the end of 2009, their combined deposits surged ...  >>MORE

UAE banking sector well capitalised

Posted on 02/08/2010

The UAE's banking sector is well capitalised to withstand the significant deterioration of asset quality it faces, however, the lending is expected to remain weak and some banks will require capital injections, according to a stress test conducted by Shuaa Capital, a regional investment bank. Shuaa conducted the stress test on a sample of eight UAE banks such as Emirates NBD, National Bank of Abu Dhabi, Abu Dhabi Commercial Bank, Mashreqbank, First Gulf Bank, Dubai Islamic Bank, Union ...  >>MORE

First Gulf Bank records highest net profit ever for first half of 2010

Posted on 29/07/2010

First Gulf Bank (FGB) announced its financial results for the second quarter of 2010, reporting a Net Profit of Dh787 million. This represents an increase of 2% over its Net Profit for the same quarter of last year. For the first half of 2010, the Net Profit amounted to Dh1,707 million which represents a 12% increase over the same period of 2009. "FGB has maintained its top line momentum for the second quarter of 2010, consolidating its solid start of the year," said Andre Sayegh, Chief ...  >>MORE

NBAD half-year profit up on higher interest income

Posted on 28/07/2010

National Bank of Abu Dhabi has reported net profits of Dh2.03 billion for the first half of 2010 — up 21.1 per cent on the Dh1.67 billion in the same period last year. The bank, the UAE's largest bank by market capitalisation, posted a 10.4 per cent rise in second-quarter profit of Dh1 billion, compared with Dh907 million in the second quarter of 2009. The higher interest income and lower provisions beat analysts' estimates. NBAD Group Chief Executive Michael Tomalin said: "These are a ...  >>MORE

Bank of Sharjah reported 7% increase in net profit for the first half of 2010

Posted on 28/07/2010

Bank of Sharjah results revealed consistent performance and continued growth during the first half of 2010. Net profit reached Dh276 million registering a 7% increase over the corresponding 2009 period figure of Dh258 million. The growth is attributed to the Bank's proven strategy, the quality of its assets, and the strength of its balance sheet. As of June 30th, 2010 total assets reached Dh18,787 million an increase of 9% over the corresponding June 30th, 2009 figure of Dh17,199 million. The ...  >>MORE

UAE bank lending to government plunges

Posted on 27/07/2010

UAE banks' credit to the government and other public sector establishments sharply slowed in the first four months of 2010 after surging by nearly Dh19 billion through 2009, according to Central Bank data. The slowdown combined with negative growth in loans to the private sector to depress total bank credit by around Dh5 billion during that period following a slight increase in 2009 and a boom lending in the previous year. From around Dh91.8 billion at the end of 2009, loans and advances by ...  >>MORE

Emirates NBD H1 net profits plunge 28%

Posted on 26/07/2010

First half net profits at Emirates NBD, one of the largest banks in the UAE, plunged 28 per cent to Dh1.5 billion compared with Dh2.1 billion in the corresponding period of last year, according to its statement posted on the Dubai Financial Market website. However, the results look better when compared with H2 2009 net profits of Dh1.23 billion, an increase of 23 per cent. The bank's total H1 2010 income is down 11 per cent to Dh4.87 billion, and in line with the trend of rising impairments ...  >>MORE

NBF’s H1 net profit surges 36.7 per cent

Posted on 22/07/2010

National Bank of Fujairah, or NBF, on Monday reported that its first-half 2010 net profit surged 36.7 per cent to Dh83 million from Dh60.7 million in the same 2009 period driven by core business growth. Operating income rose 16.1 per cent to Dh278.5 million from Dh239.9m in the corresponding period of 2009 "despite the impact of unprecedented higher liquidity cost,” the bank said in an emailed statement. "Our strategy of enhanced focus on sustained core business growth in the UAE and ...  >>MORE

RAK Bank sees profits rise in first half of 2010

Posted on 21/07/2010

National Bank of Ras Al Khaimah (RAKBank) reported a net profit of Dh240.24 million in the second quarter of this year, up 31 per cent from Dh183.44 million reported in the same period last year. The significant increase in bank's interest and fee incomes helped it to mitigate the increase in bad loan provisions. The net interest income for the quarter rose 37 per cent to Dh394.15 million the fee and commission income rose 22 per cent to Dh135 million. The bank's net profit for the first ...  >>MORE

Sharjah Islamic Bank’s profit surges 23% in H1

Posted on 20/07/2010

Sharjah Islamic Bank has announced a 23 per cent jump in its net profit for the first half of the current year compared with the same period last year. The Sharia-compliant banks' net profit for the first six months rose to Dh186 million from Dh151.7 million the bank reported for the first half of 2009. The impressive rise in profit is still lower than the profit the bank reported for the first half of 2008, which stood at Dh191.8 billion. The Sharjah-based bank on Monday announced its ...  >>MORE

ADIB reports Q2 net profit of Dh301.6 million

Posted on 19/07/2010

Abu Dhabi Islamic Bank (ADIB) posted a record net profit of Dh301.6 million for the second quarter of 2010, an increase of 55.9% over the same period in 2009. This is the second consecutive record quarter for ADIB as it continued on its growth path by: launching its new brand positioning, "Banking as it should be", and corporate identity; launching its new e-banking and mobile platform; increasing total customer numbers to 387,017; opening its 57th branch in the UAE; increasing total assets to ...  >>MORE

NBAD, Societe Generale Securities Services ink agreement

Posted on 13/07/2010

Societe Generale Securities Services (SGSS) and the National Bank of Abu Dhabi (NBAD), the Number One Bank in the United Arab Emirates (UAE), have signed a commercial agreement which capitalises on their recognized abilities to provide extensive Securities Services in their respective regions. The agreement allows SGSS, the world's sixth largest Global Custodian and the 2nd largest in Europe, and NBAD, the first licensed Securities Custodian in the UAE, to expand the geographical coverage of ...  >>MORE

Unified financial sector laws for UAE in pipeline

Posted on 28/06/2010

A committee tasked with exploring a unified banking and finance law held its first meeting yesterday in Dubai under the chairmanship of Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and UAE Minister of Finance. The committee has been requested by the UAE Cabinet to prepare amendments to two federal laws regarding the UAE Central Bank. One of the two laws is the Federal Law 10/1980 that concerns the Central Bank, the monetary system and the organisation of banking in the ...  >>MORE

Adib unveils cash cover against fraud and theft

Posted on 27/06/2010

Abu Dhabi Islamic Bank (Adib) yesterday launched the Cash Cover Takaful Service that provides customers coverage against financial loss and emergency medical expenses in the event of a fraud resulting from theft, assault or robbery. It will provide coverage up to Dh100,000 that a customer may lose due to an incident after withdrawing money within 100 metres of any of the ATMs or bank's branches in the UAE. The bank also covers all fraudulent transactions made on stolen Adib ATM Cards Covered ...  >>MORE

NBAD launches 500 million Malaysian Ringgit Sukuk

Posted on 24/06/2010

The National Bank of Abu Dhabi (NBAD), successfully issued its first Sukuk (Islamic bonds) and first issuance denominated in Malaysian ringgit (MYR). The groundbreaking issuance is worth 500 million ringgit (US$155.9 million or Dh572.5 million) and is issued under NBAD's MYR MTN programme. The offering received extremely strong investor demand and was oversubscribed nearly four times, showing the appetite of investors for NBAD's credit risk. The transaction had a strong distribution across ...  >>MORE

Al Tayer heads UAE delegation to 35th IDB Board of Governors meeting in Azerbaijan

Posted on 24/06/2010

Obaid Humaid Al Tayer, Minister of State for Financial Affairs, heads the UAE delegation to the 35th Annual Meeting of the Islamic Development Bank (IDB) Board of Governors to be held on 23rd and 24th June 2010, Baku, Azerbaijan. The delegation includes Younis Haji Al Khoori, Director General of the Ministry of Finance, Khalid Ali Al Bustani, Executive Director of International Financial Relations Sector, Al Hamdan Ahmed, Director of the International '&' Regional Financial Organisations ...  >>MORE

ADIB named "Best Islamic Bank in the Middle East - 2010"

Posted on 23/06/2010

Abu Dhabi, June 23, 2010 (WAM) - Abu Dhabi Islamic Bank, a top-tier Islamic financial services group, announced yesterday that it has been named "The Best Islamic Bank" in the Middle East at the Banker Middle East Industry Awards 2010. This tribute underscores ADIB's leadership position in the growing Islamic Finance Sector. ADIB was chosen among fierce competition from the biggest financial institutions at a gala ceremony held in Dubai in the presence of 300 senior and well known members of ...  >>MORE

Bank deposits dip by Dh11.8bn in five months

Posted on 23/06/2010

Deposits in UAE banks fell by nearly Dh11.8 billion in the first five months of 2010 as the government cut its investments, underscoring a persistent liquidity problem with the sector, official data showed yesterday. From around Dh982.6bn at the end of 2009, consolidated deposits with the country's 23 national banks and 28 foreign units dipped to Dh970.8bn at the end of May, showed figures by the Central Bank. The report on monetary indicators gave no reason for the decline, but a breakdown ...  >>MORE

UAE banks' NPL provisions fall in May

Posted on 23/06/2010

In what is being seen by analysts as a sort of reversal in the fortunes of the country's banking sector, UAE banks' provisions for non-performing loans (NPLs) have declined for the first time since December 2008, according to latest Central Bank data. Specific provisions for NPLs in May this year declined by Dh800 million, or 2.2 per cent, to Dh35.2 billion, compared to Dh36bn in April while general provisions inched up from Dh13.4bn in April to Dh13.6bn in May. Specific provisions for NPLs ...  >>MORE

ADCB signs agreement to acquire Royal Bank of Scotland's retail banking business

Posted on 17/06/2010

Abu Dhabi Commercial Bank (ADCB) yesterday announced that it has signed an agreement to acquire the retail banking business of The Royal Bank of Scotland (RBS) in the United Arab Emirates (UAE). The acquisition is subject to UAE Central Bank approval. This would be the first acquisition of an international bank's retail banking franchise in the UAE by a local bank and would provide ADCB with an opportunity to add significant scale and momentum in the strategically important consumer banking ...  >>MORE

UAE accounts for half of GCC's debt redemptions

Posted on 16/06/2010

The UAE accounts for about 50 per cent of the redemptions coming up in the GCC in the next few years. The deliverables are expected to peak in 2011, according to a top official of Credit Suisse. Addressing participants at the Credit Suisse Research Roundtable, Kamran Butt, Head of Middle East Equities Research, Private Banking, said while the next few years will see several debt and loan maturities, about US$70 billion (Dh257bn) worth redemptions are to take place in 2011 and another US$60bn ...  >>MORE

NBAD's fund to allow re-Investment of dividends

Posted on 14/06/2010

The National Bank of Abu Dhabi (NBAD), announced yesterday distribution of dividends for the first time to its NBAD UAE Distribution Fund - Mizaat (UDF) investors with the option to reinvest the dividend in lieu of a cash payout. Accordingly, UDF Management would distribute dividend payout for the first half of 2010 of 2% of the Unit NAV as of July 1, 2010. UDF managers elected to offer investors the Dividend Reinvestment Option allowing investors the choice to convert their dividend to units ...  >>MORE

Euromoney names National Bank 
of Abu Dhabi best bank in UAE

Posted on 13/06/2010

The National Bank of Abu Dhabi (NBAD), has been named the Best Bank in the UAE by Euromoney magazine for the second year in a row and fourth time in the last ten years. The London-based publication voted NBAD the Best Bank in the UAE in its Euromoney Awards for Excellence 2010. The Award, which is in its 19th year, is regarded as the benchmark of excellence for financial services companies across the world. "We are delighted that NBAD has been awarded the Best Bank in the UAE Award ...  >>MORE

Abu Dhabi Islamic Bank unveils new Brand Identity

Posted on 08/06/2010

Abu Dhabi Islamic Bank (ADIB), yesterday unveiled its new brand identity in line with its vision to become a top tier global Islamic financial services group and to deliver on its mission of providing "Islamic financial solutions for the Global community". ADIB also introduces a new slogan that captures its commitment to provide world-class, ethical banking based on its core values, "Banking as it should be". The ADIB brand identity, an evolution from the previous one, brings to the fore its ...  >>MORE

New Abu Dhabi bank eyes women's wealth

Posted on 08/06/2010

A new investment bank in Abu Dhabi is targeting wealthy women in the oil-exporting emirate, which has one of the highest levels of income per capita in the world, saying women have different investment needs than men. Al Bashayer Investment Company, whose senior officers are women based in Abu Dhabi, will offer corporate advisory, investment banking and brokerage alongside its wealth management services. "Very few services are given to women in the field of investments here. Women will be ...  >>MORE

National banks control 84% of total assets

Posted on 07/06/2010

National banks in the UAE controlled more than two-thirds of the country's overall banking operations in 2009, although they are outnumbered by foreign financial units, according to a new banking report. At the end of 2009, the country's 24 national banks possessed about US$355.5 billion (Dh1,305bn) in assets and nearly a fifth of them were controlled by Dubai's Emirates NBD, showed the report by the Beirut-based Union of Arab Banks (UAB). The combined assets of national banks accounted for ...  >>MORE

Dubai has the largest banking base in UAE

Posted on 02/06/2010

Dubai has emerged as the largest banking base in the UAE as it is home to nearly a third of the financial sector's activity in the country, according to the Central Bank. At the end of 2009, Dubai hosted 323 banking units, nearly 33 per cent of the total 956 offices and branches of the 52 banks operating in the UAE, the Central Bank said in its updated website. The figures showed the UAE has 801 branches and offices of national banks, of which 276 are based in Dubai. Foreign branches stood ...  >>MORE

Banks adopt strict new credit card rules

Posted on 31/05/2010

Banks in the UAE have started adopting stringent measures for issuing new cards, after defaults touched an all-time high by the end of 2009. The measures – adopted by both domestic and international banks – include increase in minimum salary requirements; restricted industry segments; company profile; job profile; and the tenure of service, among others. After this, the application goes for an internal scrutiny and verification process, depending upon the revised credit policy of the bank ...  >>MORE

Al Suwaidi optimistic about UAE banking sector profits

Posted on 30/05/2010

Local banks in the UAE will return to making good profits despite uncertain economic conditions, the UAE central bank governor was quoted as saying. "The worst effects of the world financial crisis are behind us,” Sultan bin Nasser Al Suwaidi told an Arabic newspaper. "Now we are looking to the future ... we've established a comfortable base and the economy is becoming more competitive,” he said. Suwaidi said local banks' positive reception of the Dubai World debt proposal as well as ...  >>MORE

UAE has highest shareholding in GCC banks

Posted on 27/05/2010

The UAE has the highest government shareholding in its banking sector in the Gulf region but the lowest foreign partnership, according to a key Western financial organisation. At the end of 2009, the government administered about 42 per cent of the UAE's banking sector, by far the highest public shareholding in the GCC, the Washington-based Institute of International Finance (IIF) said. Government ownership in the banking system stood at 20.4 per cent in Qatar, 18 per cent in Saudi Arabia, ...  >>MORE

MashreqMillionaire draw to be held 'At The Top Burj Khalifa'

Posted on 27/05/2010

The cash prize draw from MashreqMillionaire will be held on June 3rd in the tallest building in the world, "At The Top Burj Khalifa" from 8 to 8.30 pm. The grand draw will be attended by senior officials of Mashreq and Burj Khalifa, including MashreqMillionaire customers, to witness the event everyone has been waiting for. Mashreq Millionaire is a unique savings scheme that allows customers to set aside minimum savings with the potential of becoming a millionaire each month. ...  >>MORE

Banks' foreign deposits rise

Posted on 24/05/2010

UAE banks used more than Dh12 billion in surplus liquidity in March to invest in short-term loans to foreign financial units, Central Bank figures have shown. It was their highest monthly investment rate in several years. – Emirates Business 24|7 ...  >>MORE

Banks invest Dh12bn in foreign loans in March

Posted on 24/05/2010

UAE banks used more than Dh12 billion in surplus liquidity, spawned by a surge in government deposits in March, to invest in short-term loans to foreign financial units, Central Bank figures have shown. It was their highest monthly investment rate in several years and it reflected a continued policy by the banks to shun lending to the domestic market following the global fiscal distress and regional debt default problems. The Central Bank report showed "money at call and short notice" by ...  >>MORE

DIB launches two-year Islamic Certificate with 88 per cent capital return in two months

Posted on 23/05/2010

Dubai Islamic Bank (DIB), the largest Islamic bank in the UAE, announced the launch of a two-year Islamic Certificate linked to the RBS Crescent Dynamic Middle East 2 Strategy. This US dollar-denominated certificate is issued by the Royal Bank of Scotland Group, and is available for subscription from Dubai Islamic Bank between May 22-June 10, 2010. The minimum investment is US$25,000. This certificate offers investors ideal exposure to regional equity markets and is based on a dynamic ...  >>MORE

Banks’ deposits rose in April

Posted on 20/05/2010

The loan-to-deposit gap for the UAE banks in April shrank to Dh49.6 billion, compared to Dh55 billion in March, data released by the UAE Central Bank showed on Wednesday. The UAE banks witnessed a 0.5 per cent increase in deposits in April compared to March while banks' loans remained unchanged in the same period, according to the data. Last week UAE central bank governor Sultan bin Nasser Al Suweidi said the central bank will continue to ensure sufficient liquidity in the banking system ...  >>MORE

UAE banks surpass market predictions

Posted on 17/05/2010

Most UAE banks have reported first quarter profits surpassing the market expectations. However, bankers and analysts were cautious about expectations for the next three quarters as a potential rise in bad loans, sluggish loan growth and high funding costs were expected to curtail their full-year performance. The UAE's leading banks in terms of assets such as the Emirates NBD and National Bank of Abu Dhabi (NBAD) reported first quarter profits far exceeding analysts' expectations. While ...  >>MORE

UAE banks 'well capitalised to deal with defaults'

Posted on 16/05/2010

UAE banks can manage their exposure to defaulting debtors as they have built up a large capital and a solid provision base against non-performing loans (NPLs), according to the Institute of International Finance (IIF). The Washington-based institute, which groups major banks in the industrial countries, was commenting on the impact of the Dubai World debt restructuring on domestic banks in its latest report on the UAE economy. The report, part of which was obtained by Emirates Business ...  >>MORE

UAE banks boost mortgage loans by Dh1.6bn

Posted on 12/05/2010

UAE banks boosted real estate mortgage credit by about Dh1.6 billion through January, although personal loans and lending to other sectors remained almost dormant, according to Central Bank data. This was the biggest increase in mortgage loans in nearly five months and analysts said investors were apparently encouraged to seek loans by the surge in oil prices and better economic prospects in the UAE this year. "Other sectors have remained dull in terms of lending… this is mainly because ...  >>MORE

NBAD- led deals worth $5.55 billion win four global recognitions

Posted on 11/05/2010

The National Bank of Abu Dhabi (NBAD), has been recognised by prestigious international publications for a series of 2009 project financing deals that the bank played a leading role in facilitating and executing. EuroMoney, a London-based publication that covers international capital markets, ranked the US$4.1 billion financing to Dolphin Energy as the Middle East Oil '&' Gas Deal of Year 2009. Another London-based publication, Global Trade Review, selected the same deal as one of the Best ...  >>MORE

UAE national banks return to growth

Posted on 09/05/2010

UAE national banks boosted their net income by around 0.8 per cent in the first quarter of 2010 to reverse a profit slump through 2009. The banks' profit were affected by the global fiscal crisis and high provision allocation for bad debt last year. Balance sheets of 14 listed banks that have released quarterly results showed their combined net earnings stood at Dh4.95 billion in the first quarter of 2010 compared with Dh4.91bn in the first quarter of 2009. Dubai's Emirates NBD netted the ...  >>MORE

Banks lose Dh112bn of foreign cash

Posted on 05/05/2010

Deposits of foreign banks with UAE banks plunged at the end of 2009 to their lowest level in nearly four years, indicating an end to foreign money inflow that had peaked before the eruption of the global fiscal crisis in mid-2008. Central Bank figures published recently showed foreign banks pulled out a staggering Dh112.5 billion out of the UAE's banking system in 2008 and 2009, including nearly Dh13bn in last December alone. From about Dh205.58bn at the end of 2007, foreign banks' deposits ...  >>MORE

Page: 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 | 34 | 35 | 36 | 37 | 38 | 39 | 40 | 41 | 42 | 43 | 44 | 45 | 46 | 47 | 48 | 49 | 50 | 51

RETURN TO TOP | WAM UP TO THE MINUTE NEWS

Quick List

Sharp rise in H1 deposits at UAE’s largest banks


UAE banking sector well capitalised


First Gulf Bank records highest net profit ever for first half of 2010


NBAD half-year profit up on higher interest income


Bank of Sharjah reported 7% increase in net profit for the first half of 2010


UAE bank lending to government plunges


Emirates NBD H1 net profits plunge 28%


NBF’s H1 net profit surges 36.7 per cent


RAK Bank sees profits rise in first half of 2010


Sharjah Islamic Bank’s profit surges 23% in H1


ADIB reports Q2 net profit of Dh301.6 million


NBAD, Societe Generale Securities Services ink agreement


Unified financial sector laws for UAE in pipeline


Adib unveils cash cover against fraud and theft


NBAD launches 500 million Malaysian Ringgit Sukuk


Al Tayer heads UAE delegation to 35th IDB Board of Governors meeting in Azerbaijan


ADIB named "Best Islamic Bank in the Middle East - 2010"


Bank deposits dip by Dh11.8bn in five months


UAE banks' NPL provisions fall in May


ADCB signs agreement to acquire Royal Bank of Scotland's retail banking business


UAE accounts for half of GCC's debt redemptions


NBAD's fund to allow re-Investment of dividends


Euromoney names National Bank 
of Abu Dhabi best bank in UAE


Abu Dhabi Islamic Bank unveils new Brand Identity


New Abu Dhabi bank eyes women's wealth


National banks control 84% of total assets


Dubai has the largest banking base in UAE


Banks adopt strict new credit card rules


Al Suwaidi optimistic about UAE banking sector profits


UAE has highest shareholding in GCC banks


MashreqMillionaire draw to be held 'At The Top Burj Khalifa'


Banks' foreign deposits rise


Banks invest Dh12bn in foreign loans in March


DIB launches two-year Islamic Certificate with 88 per cent capital return in two months


Banks’ deposits rose in April


UAE banks surpass market predictions


UAE banks 'well capitalised to deal with defaults'


UAE banks boost mortgage loans by Dh1.6bn


NBAD- led deals worth $5.55 billion win four global recognitions


UAE national banks return to growth


Banks lose Dh112bn of foreign cash