Net profits of GCC banks under our coverage increased 1.3% YoY to USD4.4bn in 3Q13. On a YoY basis, net profits of banks the UAE, KSA and Qatar increased 9.7%, 6.0%, and 0.6%, respectively. Net profit of Kuwait based banks fall 31.4%.
The Board of Directors of UAE Banks Federation held its first meeting at the Mashreq Bank Headquarter in Dubai, Headed by H.E. AbdulAziz Abdulla Al Ghurair, Chairman of UAE Banks Federation; the Board members unveiled its annual report for 2012 and discussed the federation business plan for 2013 in addition to the major activities, topics […]
According to a new study by The Boston Consulting Group (BCG), the banking industry in the Middle East settled at single digit revenue growth in 2012 with a 6.9 percent increase. The increase in profits was slightly higher at 8.1 percent, stemming largely from extraordinary income sources.
Growth in lending across Abu Dhabi’s top banks kept its slow pace during the first half of 2012. Profits, however, were higher than those in the previous year, perhaps attributed to high credit card interest rates and increased banking fees. At the mean time, the emirate’s banking sector is preparing to follow a new rule […]
UAE banking profits seen soaring at 22%YoY in 2012 Banks are nearing end of the NPL cycle but risks remain ADCB & ENBD are most susceptible to capping of interest on credit cards UAE banking profits to rise 22%YoY in 2012 After a tough year in 2011, aggregate profits of our banking universe rose 30%YoY […]
GCC banking profitability rose 8%YoY GCC banks witness 67%YoY jump in provisions, driven largely by Kuwait All countries under coverage performed poorly than expected in the quarter GCC banking profitability underwent a rise of 8%YoY in 4Q11, profits drop QoQ GCC banks under our coverage saw their profits improving by 8%YoY, though the same slid […]
Abu Dhabi Islamic Bank (ADIB) reports today that the UAE remains the most competitive banking market in the GCC, a key finding from its proprietary “GCC Banking Competitiveness Report.”
All banks in UAE will remain closed from Thursday 1st December until Saturday 3rd December on the occasion of 40th National Day and Hijri New Year, according to a Central Bank
A worrying culture of greed, increasing pressure from regulations, “rubbish” advertising and growing opportunities in Qatar were the key topics that topped a packed agenda at MEED Retail Banking 2011, held in Dubai from October 4-5. Proving once again that MEED Retail Banking is the stand-out event for the industry, it was the comments by […]