GCC bank credit profiles to weaken despite massive economic stimulus
The credit profiles of GCC banks are set to weaken due to the coronavirus pandemic and lower oil prices despite…
Financial Results
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Gold demand rises as investor buying spree offsets jewellery plunge- GFMS
Global gold demand rose in the first quarter as a surge in investment as the coronavirus outbreak convulsed global markets…
QIB’s Gamal warns of profit threat to every bank
Never letting a good crisis go to waste, to borrow a phrase from Winston Churchill, Qatar has used a three-year…
Fall in demand for oil and pandemic squeeze Saudi finances in first-quarter
The COVID-19 crisis and the resulting fall in demand for oil hit Saudi Arabia’s finances in the first quarter of…
NBF reports Dh75 million first quarter 2020 net profit
National Bank of Fujairah posted a net profit of Dh75.4 million for the three month period ended 31 March 2020,…
Dubai Islamic Bank posts Dh1.1b first quarter net profit
Dubai Islamic Bank, the largest Islamic bank in the UAE, today announced its results for the period ending March 31,…
Turkey's Akbank posts 7% drop in Q1 cons net profit
Turkish lender Akbank [IST:AKBNK] said that its consolidated net profit fell by 7% year-on-year to 1.3 billion lira ($186 million/171…
National Bank of Fujairah PJSC – Q1 2020 Results
NBF’s robust liquidity and capital position and focused asset and liability management positions its well to navigate the uncertain environment…
Saudi Arabia’s first-quarter budget slips into deficit at $9.1 billion as oil revenue slides
Saudi Arabia on Wednesday reported a first quarter budget deficit of $9.09 billion, as oil revenue was hit hard by…
COVID-19 impact: UAE bank profits come under pressure
Early indicators from the first quarter results of UAE banks point to a spike in provisions on expected credit losses…
Al Salam Bank-Bahrain successfully exits USD 182.5 million US Multifamily Portfolio
Al Salam Bank-Bahrain has announced the successful sale of a portfolio of 7 multifamily assets in the US for a…
FAB reports Dh2.4b net profit in first quarter 2020
First Abu Dhabi Bank, the UAE’s largest bank reported a net profit of Dh2.4 billion for the first three months…