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

DIB reports 97pc rise in net profit

Posted on 30/01/2005

Dubai Islamic Bank (DIB) has reported Dh461 million net profits attributable to shareholders last year, up by 97 per cent from Dh234 million in 2003. The net profit for the bank, including depositors' profits, reported a 36 per cent increase at Dh1.02 billion compared to Dh751 million for 2003. The bank's total revenue increased by more than 43 per cent last year to Dh1.47 billion from Dh1.02 billion in the previous year. DIB's assets rose by 35 per cent from Dh22.8 billion in 2003 to Dh30.8 ...  >>MORE

ADCB reports soaring profits up 98% for 2004

Posted on 26/01/2005

Abu Dhabi Commercial Bank (ADCB), one of the UAE's leading financial institutions, today announced a net profit for the year 2004 of Dh 801 million against Dh 405 million in 2003, an increase of 98 per cent. The Bank's Chairman and the Board of Directors have proposed a dividend of 45% of the issued share capital consisting of a cash dividend of 25% amounting to Dh 312.5 million (2003: 25% of the issued share capital amounting to Dh 312.5 million) plus a 20% issue of bonus shares amounting ...  >>MORE

Dubai bank opens new branch at DIC

Posted on 26/01/2005

Standard Chartered Bank opened a branch at Dubai Internet City in early January to offer banking services to the business and residential community around there, officials said. The new branch will be in Building Number Six, close to the main entry to DIC from Sheikh Zayed Road. (The Gulf News) ...  >>MORE

Emirates Bank's profits surge to Dh972 million

Posted on 25/01/2005

The Emirates Bank has doubled its profits in 2004 to reach 972.1 million Dirhams, up by 57.4 percent, compared with previous year's profits which stood at 617.8 million Dirhams, the bank's board of directors announced here yesterday. The board said that it will propose distribution of 20 percent profit dividends to the bank's shareholders, as well as a five per cent bonus share. According to a report published yesterday by the Dubai-based bank, the banks assets saw a 19.3 percent increase to ...  >>MORE

DCB to increase subscriber’s profits

Posted on 25/01/2005

The Board of Directors of Dubai Commercial Bank has invited subscribers to attend on Wednesday, the ordinary and extraordinary meetings of its General Assembly to discuss the Council's report on the DCB's activities and to review the budget of the fiscal year 2004. A statement issued by the DCB, Monday, said that the Council had proposed in a meeting during current month to distribute cash profits to subscribers at the value of Dh163.7 million by 30 percent. It also proposed to increase the ...  >>MORE

Stellar performance by UAE banks in 2004

Posted on 24/01/2005

The UAE's banks enjoyed an exceptional year in 2004, if financial statements released so far for the year are any indication. It is true the same thing was said about bank profits at about this time in previous years. The growth that banks witnessed last year, however, in terms of profits and assets is much bigger than before. While Mashreqbank saw a 25 per cent growth in its net profit, to Dh751.1 million, Emirates Bank staged a coup by raising its earnings by 57.4 per cent to Dh972 ...  >>MORE

First Gulf Bank creates history in 25th year doubles net profit

Posted on 18/01/2005

First Gulf Bank, FGB, creates a history in its 25th year by doubling its net profit to AED 245 million. This is a unique achievement for one of the most progressive and innovative banks. Abdul Hamid Saeed CEO stated' Our financial results are a reflection of the Bank's Core Purpose-' To be a World Class Organisation, maximizing value for all stakeholders'. The CEO unveiled the 25-year logo and announced a number of events to celebrate this milestone. The milestone reflects the bank's ...  >>MORE

CBD profit jumps 28pc to Dh351m

Posted on 18/01/2005

Commercial Bank of Dubai (CBD) yesterday announced net profit of Dh 351.1 million for the year 2004, representing 28 per cent increase compare to the previous year's figure. The general assembly approved distribution of 30 per cent cash dividends and 15 per cent bonus of its total net profit, said a reliable source. It is worth mentioning that Commercial Bank of Dubai's HR Administration and HR Planning & Performance units have been awarded the ISO 9001: 2000 Certification by Lioyd's Register ...  >>MORE

Mashreqbank net up 25pc at Dh 751.1m

Posted on 18/01/2005

Mashreqbank Group yesterday reported an increase of 25 per cent in net profits to Dh 751.1 million in 2004 compared to the previous year. Mashreqbank Chief Executive Officer Abdul Aziz Al Ghurair said the year 2004 has been another successful year for the bank, with improved performance across all business segments and indicators. The group reported an increase of 21.8 per cent in its total assets to Dh31.9 billion. Advances increased by 21.1 per cent to reach Dh17.8 billion. During 2004 ...  >>MORE

Emirates Bank unveils 28pc rise in net profit

Posted on 17/01/2005

Emirates Bank general assembly yesterday announced net profit of Dh351.1 million net profits for the year 2004, compared to Dh275 million last year, an increase of 28 per cent. They also distributed 15 per cent bonus to shareholders, and 30 per cash dividend. Since its inception in 1977, Emirates Bank "constantly strived to offer cutting-edge corporate and retail services, and products through investment in technology and a commitment to excellence in service", the bank says. It says that ...  >>MORE

Emirates Bank branch inaugurated in Fujairah

Posted on 14/01/2005

Sheikh Hamad Bin Saif Al Sharqi, Deputy Ruler of Fujairah, yesterday inaugurated a new branch of Emirates Bank here, officials said. "This new Emirates Bank branch, and the loans and financial assistance it can offer, represents a significant source of support for our national youth.”It means providing them opportunities to translate their creative investment ideas into various types of small- and medium-sized economic projects," said Sheikh Hamad. The bank's opening ceremony was attended ...  >>MORE

Bank credits rose 13pc in H1 2004

Posted on 14/01/2005

Low interest rates and booming trading activities enhanced the appetite for credit off take in the country as the total bank credit extended to residents and non-residents amounted to Dh255.47 billion at the end of June 2004, showing a rise of Dh29.46 billion,13 per cent against an increase of Dh11.90 billion, 6.2 per cent during the first half of 2003. Credit to residents rose during the first half of 2004 by Dh24.84 billion , 12.6 per cent to equal Dh221.75 billion, while credit to ...  >>MORE

ADCB to finance Dh 225m for expansion project at Sharjah

Posted on 12/01/2005

ADCB has signed a Dh 225 million project finance deal with Sharjah Airport. The loan will be used for the expansion projects at the Sharjah International Airport. The deal was signed by Sheikh Abdullah Bin Mohammed Al Thani, Chairman Department of Civil Aviation, Sheikh Mohamed Bin Saud Al Qasimi, Chairman Finance Dept., Ibrahim Mohamed Al Nabooda, Director General Finance Dept., Sharjah, Dr. Ghanem Al Hajri Director General Dept. of Civil Aviation & Sharjah Airport Authority and Ahmed Saleh Al ...  >>MORE

Emirates Bank opens new branch in RAK

Posted on 11/01/2005

Ras Al Khaimah welcomed a new Emirates Bank branch yesterday with a ceremony attended by many officials. Sheikh Saud Bin Saqr Al Qasimi, Ras Al Khaimah Crown Prince and Deputy Ruler, formally inaugurated the new branch at a ribbon-cutting ceremony. The inauguration ceremony was also attended by Sheikh Saqr Bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah. Sheikh Faisal Bin Saqr Al Qasimi, who heads the General Accounts Department in the Ras Al Khaimah ...  >>MORE

Bank of Sharjah raises share capital

Posted on 11/01/2005

Bank of Sharjah has announced an increase in share capital from Dh750 million to Dh1 billion, an official said. "The increase in paid-up capital is in line with our aggressive development and expansion strategy for 2005," said Chairman Ahmad Al No'man. The bank has achieved record growth in the last few years at all levels reflecting a significant balance sheet increase the bank's assets grew to Dh3.412 billion in 2004. The capital increase will be funded in the form of a 13.33 per cent ...  >>MORE

UAE banks to adopt Basel II by 2006-end

Posted on 03/01/2005

The first stage implementation of Basel II agreement will be accomplished by banks operating in the UAE and other Arab countries by the end of 2006, according to Atif Al Deeb, head of the Department of Risk Management at the Union National Bank. He said one of the main challenges posed by the recently announced Basel II agreement is the issue of raising bank's capital adequacy by 8 per cent. This will have its impact on banks operating in the UAE and elsewhere in the world. The new capital ...  >>MORE

EIB finances 33 projects worth Dh 374 mn in 2004

Posted on 30/12/2004

The Emirates Industrial Bank (EIB) approved yesterday loans worth Dh 74 million for financing four projects for base metals and furniture. In its meeting yesterday, the EIB board heard a report on operations it had financed over the previous period. It also took note of the performance of its investment portfolio on local stock markets. The board approved the estimated budget for 2005. Over 2004, the EIB has financed 33 projects in the tune of Dh 374 million. (The Emirates News Agency, WAM) ...  >>MORE

Emirates and Sudan approves US$200m Islamic finance institution

Posted on 29/12/2004

Sudan's central bank has given its approval for the fully Islamic US$200 million Emirates and Sudan Bank to be set up in Khartoum, the country's capital, it was announced yesterday. The new bank, which is backed by a number of leading Islamic financial institutions, is expected to begin operations next year and plans to quickly expand out of its Khartoum headquarters and create a network of branches throughout the country, a press statement said. All its operations, services and products ...  >>MORE

Dubai's Credit Bureau to go operational in months

Posted on 27/12/2004

The ambitious Credit Bureau project initiated by the Department of Economic Development (DED), Dubai, is set to take off within a couple of months. Speaking to Gulf News yesterday, Bashar Saleh Qallab, director of the Credit Bureau Project at DED, said the bureau will be established in phases. "The bureau will be a commercial entity capitalised at US$5 million (Dh18.35 million) and the prospective participants should include, apart from DED, similar government departments from across the UAE," ...  >>MORE

ADCB makes significant achievements

Posted on 26/12/2004

The Abu Dhabi Commercial Bank, ADCB, continues to achieve significant developments and achievements in its banking operations to serve the local market and the national economy, along with offering best services to its customers throughout the country. The new ADCB Board succeeded to develop appropriate solution with the aim of reducing assets of dead loans up to 6 per cent, given the fact, that this percentage reached 18 per cent at an early stage of this year. This achievement is made as a ...  >>MORE

ADCB unveils a "smarter way to pay"

Posted on 17/12/2004

In line with its commitment to "shape the future of banking" with innovative products and services, Abu Dhabi Commercial Bank (ADCB), unveiled its latest state-of-the-art product here today. The ADCB Smart Debit card programme is the first debit card in the Middle East to offer cardholders a cash rebate on every purchase made with the card, no matter how big or small. "The ADCB Smart Debit card programme demonstrates our intention to deliver a superior standard of banking and customer ...  >>MORE

NBAD unveils country's first Sharia equity fund

Posted on 15/12/2004

The National Bank of Abu Dhabi launched what it called the UAE's first Sharia-compliant equity fund yesterday. "NBAD's demonstrated expertise in local markets is the key strength of this fund. We expect investor response to be exceptional," said Khalid Al Qubaisi, head of corporate finance and business development at NBAD. The UAE Islamic Fund will invest in Islamic equities in the UAE and Arab markets. NBAD expects the fund will initially raise Dh250 million. Sheikh Nizam Yaquby, an ...  >>MORE

Top UAE bank official wins Arab honour

Posted on 07/12/2004

Fatima Al Mansour, vice-president of Abu Dhabi Commercial Bank and head of its branches, has been awarded the distinguished Arab Woman Prize. Dr. Kareem Farman, chairman of the Arab Women Participation Studies Centre, said it would be presented at a ceremony in Cairo, which will be held under the patronage of Amr Moosa, secretary-general of Arab League, in April. (The Emirates News Agency, WAM) ...  >>MORE

National Bank of Sharjah gets higher rating

Posted on 07/12/2004

Capital Intelligence, the emerging-markets rating agency, raised the foreign currency long-term rating of National Bank of Sharjah to investment grade BBB- from BB+. The CI report confirmed that the short-term support foreign currency rating of the bank has been retained at A3, while outlook has been reaffirmed as "Stable" for all ratings. It reflects the bank's good capitalisation and high liquidity levels in addition to good financial performance over the past two years. The new rating has ...  >>MORE

RAKBANK launches revolutionary ATM deposit technology

Posted on 07/12/2004

RAKBANK recently launched its new Electronic Deposit Machine (EDM). With revolutionizing automated teller technology, this unique machine allows customers to not only withdraw cash, but to deposit directly without the use of envelopes and see their money being counted and registered on-line in their account, thus eliminating the doubt-factor out of electronic banking. The RAKBANK EDM service, initially available at RAKBANK Dubai Main Branch and lately at Gold Souk Branch in Deira, accepts ...  >>MORE

Emirates Bank Group to raise capital of subsidiary

Posted on 02/12/2004

Emirates Bank Group has decided to raise the capital of its fully owned subsidiary, Emirates Financial Services (EFS), from the present Dh200 million to Dh500 million, in the wake of growing capital market activities. The extraordinary general meeting (EGM) of the bank yesterday gave the board the go-ahead to amend Article 19 to allow the bank to increase the size of its euro medium-term note (EMTN) fund raising programme from US$1 billion (Dh3.67 billion) to US$3.5 billion (Dh12.8 ...  >>MORE

Dubai Bank's capital now Dh500 million

Posted on 29/11/2004

The capital of Dubai Bank will now be Dh500 million. Minister of Economy and Planning, Sheikha Lubna Al Qasimi, issued yesterday a decree which amended Article 5 of the article of partnership and statute of the bank in such a way that the bank's capital will now be Dh500 million to be split into 50 million shares of a nominal value of Dh10 per share to be fully paid in cash. The amendment of the capital came in response to the Bank's request following its extraordinary general assembly ...  >>MORE

Emirates Bank to increase size of medium-term bond

Posted on 28/11/2004

Emirates Bank International PJSC (EBI), the first GCC financial institution to establish a medium term fund raising programme, proposes to increase the size to US$3.5 billion (Dh12.84 billion). Anis Al Jallaf, managing director and chief executive officer of Emirates Bank Group, confirmed that an extra-ordinary general meeting (EGM) of the shareholders is being convened on December 1 to consider and authorise the proposal. EBI launched its first five year euro bond issue for US$230 ...  >>MORE

NBS registers Dh71.41m profit for first nine months

Posted on 24/11/2004

National Bank of Sharjah has reported 10 per cent increase in its net profits for the first nine months of the year at Dh71.41 million. The bank topped Dh 3 billion in assets for the first time during the third quarter, up 13 per cent since the last financial year-end. Strong investment performance and sound growth in the financing portfolio and customers' deposits were highlights of the Q3 performance that saw annualised compound net profit growth maintained at more than 10 per cent. ...  >>MORE

ADCB increases 3rd quarter profit by 41 per cent

Posted on 21/11/2004

Abu Dhabi Commercial Bank (ADCB), one of the UAE's leading financial institutions, today announced a net profit for the third quarter 2004 of Dh 216.8 million against Dh 153.3 million for the same period last year, an increase of 41 per cent. For the nine months ended September 2004 net profit increased to Dh 520.7 million, compared to Dh 428.1 million in 2003, representing an increase of 22 per cent over the previous year, according to a bank statement. "ADCB continues the implementation of ...  >>MORE

Banks lent Dhs7.828b to projects last year

Posted on 16/11/2004

The amount lent by banking consortiums to major projects in the UAE totalled US$2.133 billion (Dhs7.828 billion) in 2003, rising significantly from US$140 million (Dhs513.8 million) in 2002 to over 15 times, International Monetary Fund (IMF) statistics show. These statistics were published in the IMF world financial stability report, according to a report in "The Gulf Today.” Loans totalling US$666 million (Dhs2.444 billion) were issued in the first quarter of this year compared with ...  >>MORE

Dubai Islamic Bank tops fund raisers

Posted on 02/11/2004

Dubai Islamic Bank has been ranked the top lead manager of Islamic finance deals by Euromoney. "The rankings support the UAE and Dubai's position as a leading Islamic finance hub, with its institutions taking intermediary positions on deals valued in excess of any other regional finance centre,” said the leading capital markets publication. Recent deals such as the Dh2.752 billion Sukuk Al Ijara for the Government of Dubai's Department of Civil Aviation and a Dh1.284 billion Ijara ...  >>MORE

Hamed voices support for banking sector

Posted on 27/10/2004

Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Department of Economy (DOE), presided yesterday over the second meeting of the committee for local banks and investment. The meeting centred on mechanisms of improving the performance of banking industry and its engagement in the economic development especially of the real estate and industrial sectors. Highlighting the high importance of the committee, Sheikh Hamed said the body would help Abu Dhabi achieve its economic vision for ...  >>MORE

EIB to offer 72.7 million for five projects

Posted on 26/10/2004

The Emirates Industrial Bank has agreed to finance five projects in the plastics and base metal sectors at a total cost of Dh 72.7 million. The approval came in a meeting of the EIB board today under its chairman Dr. Mohammed Khalfan Khirbash, Minister of State for Financial and Industrial affairs. The board reviewed activities of the bank and studied applications for loans. Since the beginning of the year, the bank approved 28 projects worth Dh 296.4 million. (The Emirates News Agency, WAM) ...  >>MORE

UAE bank profits up, courtesy strong oil

Posted on 25/10/2004

The financial results of leading UAE-based commercial banks for the first nine months of the year indicate that most banks are set to report stronger growth in their profits and assets during 2004. Robust economic conditions supported by strong oil prices and phenomenal growth in the retail banking business has helped the surging profits of UAE banks. Significant long-term developments such as the real estate boom and ongoing infrastructure investments are also helping the banking sector ...  >>MORE

Emirates Bank posts Dh653m profit

Posted on 24/10/2004

Emirates Bank International recorded a 41.3 per cent jump in net earnings to Dh653 million during the nine-month period ended September 2004, compared with the corresponding period last year. Earnings per share (EPS) grew to Dh1.14 from Dh0.80 for the same period in 2003. Anees Al Jallaf, managing director and chief executive officer (CEO) of Emirates Bank Group, said all the major businesses of the group have shown strong profit and asset growth during this period, especially the retail ...  >>MORE

UAE leads the region in credit card use

Posted on 19/10/2004

In terms of the average size of transactions and number of transactions per month, UAE'S credit card usage is far ahead of other countries in the region, according to a recent Consumer Lifestyle survey conducted by MasterCard International. These findings are part of MasterCard's comprehensive consumer confidence survey in the region. In the UAE, 36 per cent of credit card spendings were in the region of US$30 to 300 while a majority of transactions, close to 60 per cent, were in excess of ...  >>MORE

Bank of Sharjah's earnings rise 64pc to Dh96m in nine months

Posted on 18/10/2004

Bank of Sharjah has seen profits for the first nine months of 2004 shoot up 64 per cent to Dh95.5 million over the same period last year. Customer deposits rose 18 per cent to Dh2.061 billion as of September 30. While total assets grew 12 per cent from Dh2.755 billion to Dh3.084 billion, advances increased 19 per cent to Dh1.850 billion. Total income for the first nine months of 2004 was Dh133 million, an increase of 46 per cent compared with the same period in 2003. Out of this total, ...  >>MORE

Abu Dhabi Commercial Bank offers zero balance

Posted on 18/10/2004

As part of its drive to introduce new products and upgraded facilities, Abu Dhabi Commercial Bank (ADCB) has introduced a new All-in-1 current account with numerous benefits. For only Dh30 per month, customers will be able to maintain a zero-balance account and benefit from regular overdrafts, insurance products and a medical card. They can also access the branch for up to 10 transactions per month. However, as part of a special promotion, people applying before December will be able to ...  >>MORE

National Bank of Dubai posts Dh623m profit

Posted on 18/10/2004

The National Bank of Dubai (NBD) experienced a decline of 10.1 per cent in its net profit to Dh622.96 million for the nine-month period ending September 30. The bank recorded earnings of Dh622.96 million in the corresponding period last year. The fall was mainly due to the rise in interest expenses during this period, from Dh190.274 million to Dh228.980 million, thus impacting negatively on net interest income. As a result, operating income dropped from Dh1.043 billion to Dh993.006 million ...  >>MORE

NBAD profit surges 35pc in first three quarters of 2004

Posted on 17/10/2004

The National Bank of Abu Dhabi (NBAD) earned Dh229 million during the third quarter of the year, making cumulative profits for the first three quarters of Dh803 million, 35 per cent up against the corresponding period of 2003. Annualised earning per share was Dh11.37 percent, 35 per cent above that for the corresponding period of 2003. The annualised return on equity reached 24 per cent compared with 20.4 per cent in 2003. For the third quarter, net profit was up 50 per cent on the ...  >>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

DIB reports 97pc rise in net profit


ADCB reports soaring profits up 98% for 2004


Dubai bank opens new branch at DIC


Emirates Bank's profits surge to Dh972 million


DCB to increase subscriber’s profits


Stellar performance by UAE banks in 2004


First Gulf Bank creates history in 25th year doubles net profit


CBD profit jumps 28pc to Dh351m


Mashreqbank net up 25pc at Dh 751.1m


Emirates Bank unveils 28pc rise in net profit


Emirates Bank branch inaugurated in Fujairah


Bank credits rose 13pc in H1 2004


ADCB to finance Dh 225m for expansion project at Sharjah


Emirates Bank opens new branch in RAK


Bank of Sharjah raises share capital


UAE banks to adopt Basel II by 2006-end


EIB finances 33 projects worth Dh 374 mn in 2004


Emirates and Sudan approves US$200m Islamic finance institution


Dubai's Credit Bureau to go operational in months


ADCB makes significant achievements


ADCB unveils a "smarter way to pay"


NBAD unveils country's first Sharia equity fund


Top UAE bank official wins Arab honour


National Bank of Sharjah gets higher rating


RAKBANK launches revolutionary ATM deposit technology


Emirates Bank Group to raise capital of subsidiary


Dubai Bank's capital now Dh500 million


Emirates Bank to increase size of medium-term bond


NBS registers Dh71.41m profit for first nine months


ADCB increases 3rd quarter profit by 41 per cent


Banks lent Dhs7.828b to projects last year


Dubai Islamic Bank tops fund raisers


Hamed voices support for banking sector


EIB to offer 72.7 million for five projects


UAE bank profits up, courtesy strong oil


Emirates Bank posts Dh653m profit


UAE leads the region in credit card use


Bank of Sharjah's earnings rise 64pc to Dh96m in nine months


Abu Dhabi Commercial Bank offers zero balance


National Bank of Dubai posts Dh623m profit


NBAD profit surges 35pc in first three quarters of 2004