Banque Misr achieves LE 24B in profits in FY 2019/20
Banque Misr achieved LE 24 billion in profits, before tax deduction, in fiscal year 2019/20, 40 percent up from previous…
Financial Results
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UAE banks’ loan loss provisions surge 71.6% to $8.2bln
Banks in the UAE booked the biggest spike in loan loss provisions in the GCC with an increase of $3.4…
Strategic imperatives for UAE banks amid pandemic-stricken change
Innovation, digitalization, customer-centricity, compliance and better management of cost and risk are some strategies that banks in the UAE can…
Deloitte advises education firm Al Faleh on its stock debut
Doha-based provider of education products and services Al Faleh is set to become the first ever company to be listed…
Lenders push Saudi index down
Saudi Arabian stocks pulled back on Sunday with its banking stocks weighing down the index, while investors in other GCC…
Qatar National Bank net profit falls 7% as provisions climb
Qatar National Bank (QNB) , the biggest lender in the Gulf, said on Sunday its first quarter net profit fell…
QIB Profit grows by 9% to reach QAR 750 Million for three months' period ended 31st March 2021
Qatar Islamic Bank has announced the results for the three months’ period ended 31 March 2021. Net Profit attributable to…
Startups in UAE, Saudi, Egypt raised $170mln in Q1
Startups in the MENA region raised $170 million in March, a 6 per cent rise month on month, across 43…
ahlibank’s OMR30 million rights issue oversubscribed 1.29 times
ahlibank has announced an oversubscription of its rights issue by 1.29 times. This marks the successful closure of the bank’s…
GCC banking provisions reached record highs of $20bln last year – Kamco Invest
The COVID-19 pandemic had a deep impact on the GCC banking sector resulting in record provisions being booked for fiscal…
Dubai’s Damac posts Dhs1bn 2020 loss; head says market recovery may take up to 2 years
Dubai’s Damac Properties has posted a net loss of Dhs1.04bn for 2020, dipping sharply from a loss of Dhs37m in…
Bahrain's real estate sector rebounds; $1.9bln transactions recorded in 2020
Despite the challenges posed by Covid-19 pandemic, Bahrain’s real estate sector rebounded in the third and fourth quarter of 2020…