Browsing Tag
Bank
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The UAE has increased its base rate by 25 basis points.
The UAE's economy has been on the path of recovery, and the decision to raise the Base Rate is in line with the country's long-term economic goals.
Mashreq’s operating profit has surged by 96% during the first quarter of 2023.
Mashreq Bank reported strong Q1 2023 results, with net profit increasing by 71% to AED 1.3 billion from AED 764 million in Q1 2022.
Adib’s first quarter profit has surged by 54% to reach Dh1.1b.
ADIB's first quarter profits surged by 54%, reaching Dh1.1 billion, driven by its focus on digital transformation and diversified business model.
RAKBANK’s first-quarter profit surged by 105% to reach Dh450 million.
RAKBANK has achieved impressive results in the first quarter of 2021, despite facing the challenges posed by the pandemic.
The National Bank of Fujairah’s net profit in Q1 2023 has soared by 151.8%, reaching Dh152 million.
The National Bank of Fujairah reported impressive growth in net profit for Q1 2023, attributed to its focus on customer-centric services, strategic partnerships with leading businesses and organizations in the UAE, prudent risk management practices, and strong financial position.
ADDED and Wio Bank join forces to boost SME growth
The UAE government has recently signed an agreement between the ADDED and Wio Bank to provide a range of financing solutions and services to SMEs in the emirate.
Fitch raises the Viability Rating of United Arab Bank.
Fitch Ratings has raised the Viability Rating of United Arab Bank (UAB) from ‘bb-’ to ‘bb’, reflecting the bank’s strong capitalization, improving asset quality, and sound liquidity position.
UK-based bank accounts can now be opened by UAE residents.
The new partnership between Al Hilal Bank and BLME is expected to provide significant benefits to UAE residents and UK-based financial institutions alike.
The heads of the World Bank and the IMF are set to meet to discuss the complicated challenges confronting the global economy.
The meeting of the heads of the World Bank and IMF is an important opportunity to explore potential solutions to these problems.