Coronavirus impact: Dubai's economy may feel effects into Q2 2020
Dubai saw remarkable external trade growth in 2019, and with a contribution of 150 billion dirhams, China was its largest…
Financial Results
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Saudi British Bank reports profit of SR2.812 billion for 2019
The Saudi British Bank recorded a net profit of SR2.812 million ($749 million) after zakat and income tax for the…
Abu Dhabi-based banks report Dhs40.3bn net income in 2019
Abu Dhabi-based commercial and Islamic banks reported a net income of Dhs40.3bn in 2019, reported news agency WAM. The…
Standard Chartered sees 2019 MENA profits up 29%, warns of impact or coronavirus
Standard Chartered’s Middle East and African operations saw profits rise 29 percent in 2019, but the British lender warned on…
UAE banks invested Dhs141bn in Q4 2019 across the GCC
Banks in the United Arab Emirates have invested upto Dhs141.4bn during the fourth quarter of 2019 across four GCC states.…
Egypt’s microfinance balances jump 47% in 2019
The value of microfinance balances in Egypt rose by 47% year-on-year during 2019, head of the Egyptian Microfinance Federation, Mona…
Incolease’s profit drops 13% in 2019; dividends proposed
The International Company for Leasing (Incolease) reported a 13.4% year-on-year decrease in its net profits during 2019. The company’s net…
Middle East Gas Market Growing at Double the Rate of Global Energy Demand
The natural gas market in the Middle East is experiencing a substantial growth phase, with its cost of supply remaining…
Ithmaar Bank reports stable, consistent growth
Ithmaar Bank has announced its financial results for the year ended 31 December 2019. The announcement, by Ithmaar Bank…
Banque du Caire posts 60% rise in net profit in 2019
Banque du Caire reported a 60% year-on-year hike in its net profits after taxes during 2019. The lender’s net…
Bank ABC Islamic announces 16.5% increase in 2019 year-end net profit to US$37.3 million
Bank ABC Islamic has announced its financial results for the year ending 31 December 2019, which recorded net profit of…
Commercial Bank of Kuwait incurred loss in Q4
The Commercial Bank of Kuwait (CBK) did not register any profits during fiscal year 2019 when compared to profits of…