Saudi Arabia spent $4.5 billion on industrial support last year
The Saudi Industrial Development Fund said it provided $4.5 billion in pandemic support last year, mostly to small businesses, as…
Financial Results
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Dubai Islamic Bank Shareholders Approve 20% Dividend as Robust Growth Continues Despite Economic Challenges
Dubai Islamic Bank the largest Islamic bank in the UAE, successfully concluded its Annual General Meeting held remotely at the…
Why large UAE banks’ 2020 profit decline is manageable
The four largest bank in the UAE saw sharp drop in their net profit in 2020, but the decline is…
Saudi investment fund assets rise 26% to $117bn in 2020
The total amount of assets held by investment funds in Saudi Arabia increased by 26 percent year-on-year to SR442 billion…
Qatar credit growth tops $274.6bn in 2020 says CB chief
The Qatari central bank governor said domestic credit growth exceeded QR1 trillion ($274.57 billion) last year, shrugging off the impact…
Slow Gulf economic recovery to have long-lasting impact on banks – S&P
Economic recovery from the coronavirus crisis in the oil-rich Gulf region will be slow, weighing on the region's banking sector,…
Israel's Bank Hapoalim moves to fourth quarter profit, sees economic uncertainty
Bank Hapoalim, Israel’s largest lender, swung to a profit in the fourth quarter and said on Thursday loan deferments made…
Dubai’s DIFC Investments full-year profit declines 74%
DIFC Investments, controlled by Dubai’s tax-free business hub, posted a 74 per cent drop in profit. Full-year profit net…
UAE banks provide $1.74bln in retail loans in Q4 202
The UAE banks provided AED6.4 bn in retail loans for residents during Q4 of 2020, according to statistics issued by…
Why UAE banks are in no rush towards consolidation
The UAE will witness an increased number of consolidations in the banking sector in the years ahead, according to experts…
Hapoalim net profit up 14% in 2020
Profit was higher last year, despite the pandemic, but mainly because of provisions to settle the US tax evasion probe…
Dubai's Shuaa Capital board proposes first cash dividend after merger
Shuaa Capital said its board of directors has proposed a dividend of 3 fils per share totaling 76 million dirhams…