#Banking
The bank’s total income for 2022 was Dhs3.451bn, reflecting a 6.9 per cent YoY increase
Both entities will leverage their core competencies to drive economic growth, diversification and industrial transformation
Saving deposits increased during the first 11 months of 2022 by 1.98 per cent, compared to about Dhs241.82bn at the end of 2021
Technology integration in banking has exposed a whole new spectrum of capabilities that can be leveraged to improve performances by gaining an intricate understanding of operations
The fully digital financing process will make it easier for Tesla customers to apply for auto financing and improve their buying experience
The bank’s ownership in the Egyptian unit has risen to 52.607 per cent
The bank is tracking the development of banks and fintechs to ensure their readiness to launch open banking services in Q1 2023
The partnership equips Ajman Bank with the technology to accelerate its digital transformation and enrich its client offering by adding new payment services
The partnerships with ADIB and RAKBANK will focus on providing ADGM-registered and licensed businesses with preferential banking services
Companies need to invest in people as much as they do in technology, as reskilling employees is both cost-effective and offers significant mid to long-term dividends
The bank’s operating income increased by 24.3 per cent over the previous year to Dhs5.3bn
Under the multi-year agreement, HSBC will upgrade and migrate select database systems to Oracle Exadata Cloud@Customer
Both the organisations will work together to help companies issue scheme-enabled prepaid cards by reducing cost to launch and time to market
Banking-as-a-service is a revolution that combines the power of banks with the reach and customer loyalty of well known brands
Financial businesses should use a platform to manage their data to keep up with the technological advancements they are currently, or gradually planning on, implementing
The bank’s half-year net profit was driven by broad-based growth in net interest income, card fees and trading income underpinned by the economy’s recovery
The bank reported double-digit income growth in the UAE, Pakistan, and Ghana, with Pakistan delivering its highest-ever half-yearly operating profit
The bank’s total income was Dhs12.5bn, up 31 per cent YoY, including a Dhs3.1bn net gain on the sale of a majority stake in Magnati
Gross new financing and sukuk investments saw a significant increase of Dhs33bn during the period
The bank reported growth of 8 per cent year-to-date in customer deposits, reaching Dhs109.3bn
The bank’s revenue for the first half of the current year improved by 7 per cent to Dhs2.8bn compared to Dhs2.6bn last year
The potential combination would create the Gulf’s seventh-largest lender with $115bn in assets
International banks including Citigroup and Bank of America have been expanding in the kingdom
Identity proofing platform IDnow and YouGov research finds UAE residents are frustrated by bank account applications
EFG Hermes Holding’s sell-side revenues grew by 61 per cent y-o-y to EGP494m supported by revenues from the investment banking and brokerage divisions
The bank saw operating profit rise by 59 per cent in the region, with operating profit for a single quarter crossing $300m for the first time in nearly a decade
The Shariah-compliant lender is also continuing to look at organic and inorganic growth opportunities for its banking business
ADCB reported that its Hayyak onboarding app registered a record number of around 57,000 new customers in a single quarter
Total bank deposits increased by 1.5 per cent, rising from Dhs1,966.8bn at the end of November 2021 to Dhs1,996.5bn at the end of December 2021
IBM’s team of experts will work with FAB to modernise existing applications and enhance the digital footprint of FAB’s customers