#Banking
JMR’s Genie de Banca digital platform will enable banks and financial institutions to automate and digitise their lending departments, develop new revenue channels, and present their customers with new products and services
The total number of positions that have been eliminated has reached 85,540 globally
International banks have been expanding in Saudi as the country embarks on a plan to diversify its economy beyond oil
Lenders should leverage the use of technology to understand customers’ needs and create a personalised journey for them, says IT firm Comarch
It reported a nine-month net profit from January-September 2020 of Dhs2.802bn, down 33 per cent compared to Dhs4.196bn in the corresponding period last year
Non-performing loan ratio increases from 3.8% in December 2019 to 4.1% in June 2020
Increase in non-performing loans squeezed banks’ profits in the GCC country
Lawyers for Huawei argue HSBC improperly aided the US to indict CFO Meng Wanzhou
BCG survey says 87 per cent of respondents would consider a digital-only bank
Europe’s largest bank has been named as a possible candidate for China’s “unreliable entity list”
Bank Leumi currently holds approximately 30 per cent market share in the Israeli banking system
Its net revenue also declined nearly 11.5 per cent year-on-year to Dhs2.5bn
The directive will encourage banks to strengthen the TESS scheme and support customers in overcoming the impact of the pandemic
The bank had asserted in March that no employees would be made redundant as a result of the Covid-19 pandemic
In February last year, the British bank received approvals from Saudi Arabia’s financial regulator to open a branch in the kingdom
As Covid-enforced social distancing measures became commonplace, Bahrainis turned increasingly online to conduct financial services
The Central Bank of the UAE has said that the support provided to non-profit organisations is expected to increase in 2020
There is a total of $71.09bn sukuk now listed on the exchange
The top five destination countries for remittances were India, Pakistan, Philippines, Egypt and the US
Ashok Aram, who also heads the firm’s international private and commercial bank operations, is departing for personal reasons
Banks are trying to find ways to accommodate growing investment demands from cash-rich clients
Its net loans stood at Dhs247bn and customer deposits at Dhs263bn as of the end of Q1 2020
Last year, Kuwait Finance House offered to buy Ahli United Bank in an all-share deal that was valued at about $8.8bn
He added that state oil revenue has decreased by more than half, and non-oil revenue will decrease as well
Lenders warned that it’s still too early “to determine the size and extent of the financial impact at this stage”
Meanwhile, the value of total assets of the UAE’s largest bank rose 14 per cent to Dhs835bn
The country’s central bank also instructed all banks to consider entry permits issued to expats in the UAE from March 1 – December 31, 2020 to be valid
ADCB is owed $963m by Abu Dhabi healthcare group NMC, which has now been placed under administration
The highest ranked Arabs originating from Saudi Arabia in Gulf Business’ annual Arab power list
Abu Dhabi Islamic Bank is reportedly planning to close local and international branches