10/14/2020
GCC banking sector faces prolonged slump in profits
Banks’ loan growth slowed in first-half 2020 to an annualized rate of 6.6 per cent
Retail Banking
10/14/2020
Year's biggest bank merger sealed as Saudi rivals reach US$15b deal
Its US$46 billion market capitalisation nearly matches that of Qatar National Bank QPSC, which is still the Middle East's biggest lender with about US$268 billion of assets.
10/13/2020
Commercial Bank of Dubai hires banks for perpetual bonds
The group of banks includes Citi, Standard Chartered, Barclays, Emirates NBD, First Abu Dhabi Bank, and Nomura
10/13/2020
Fitch Affirms Burgan Bank Turkey at 'B+'; Downgrades Viability Rating to 'b-'
The downgrade of the VR reflects heightened pressures on the bank's performance and asset quality resulting from the coronavirus pandemic.
10/12/2020
HSBC’ economists forecast 2.4% GDP growth in Egypt in 2020: Regional CEO Tricaud
GCC economies to shrink on average by 5.6% y-o-y in 2020, before they rebound to show growth of 3.9% y-o-y in 2021, HSBC predicts
10/12/2020
Saudi Arabia's NCB and Samba agree to $15bn merger that will create kingdom's largest lender
Tie-up of the two lenders will create the third-largest bank in the Arab world with $223bn in assets
10/12/2020
QNB nine-month net profit falls as it books more provisions
The Gulf's biggest lender set aside additional loan loss provisions
10/12/2020
NCB-Samba to merge into Saudi banking heavyweight
Saudi Arabia has encouraged consolidation in the banking sector as it seeks to create stronger entities able to support the role the private sector can play in its push to diversify its oil-dependent economy.
10/11/2020
The Egyptian Central Bank establishes a company to transfer funds and...
The central bank will contribute to the capital of the new company, with a share of 35%, while banks, Al-Ahly, Egypt and Cairo and others will own the remaining share.
10/09/2020
Barwa Bank rebrands into Dukhan Bank, eyes ambitious business and digital transformation
The rebranding also reflects a shift in the bank's mindset toward product and service innovation
10/09/2020
Oman’s top banks see 34.2% decline in H1 profits: Report
Oman’s banks saw a decline in credit flow, revenue compression and significant increase in non-performing loans
10/09/2020
Developing an educational platform for banking in “Abu Dhabi Global”
“This initiative is of great importance, especially as developing the environment for the banking sector with an advanced approach"
10/07/2020
QIB named ‘Best Bank for SMEs in Qatar’ at Asiamoney Best Bank Awards 2020
In lights of the Covid-19 outbreak, QIB had a proactive response to the economic implications of the crisis on SMEs, and has immediately postponed financial
10/06/2020
Egypt’s banks brace for change
A combination of Gulf banks with deep pockets and changes to Egypt’s banking regulations is spurring hopes
10/06/2020
Emirates NBD launches digital supply chain financing platform
smartSCF platform caters to the growing need for digitisation of supply chain management and financing.
10/06/2020
Emirates Development Bank open to funding non-Emirati owned businesses
For first time, it will consider funding through direct or indirect ways to other business
10/06/2020
NBK Sponsors LOYAC’s “Career Ready” Program
Bin Hussain: NBK is committed to supporting youth especially during this time of uncertainty
10/05/2020
Mashreq and noon.com announce strategic partnership
UAE’s first e-commerce co-branded card Mashreq noon VIP Visa Card will be launched
10/05/2020
UAE bank assets rise 4% to 2.8 trillion dirhams
Total credit from national banks grew by 0.7% on a monthly basis, and 2.5% since the beginning of the year, to reach 1.61 trillion dirhams by the end of last July.
10/05/2020
Africa Reinsurance Corporation (Africa Re) Group Selects DIFC For Middle East Expansion
The business will operate as Africa Re Underwriting Agency Limited (Africa Re) and the DIFC presence is their first office outside Africa.