Banks in Egypt hedge against COVID-19 despite Q1 profit decline
Banks operating in Egypt are hedging against the expected repercussions of the novel coronavirus (COVID-19), by making provisions and increasing…
Financial Results
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Turkey Revokes Experience Requirement for Central Bank Deputy Governor
Turkey has revoked a requirement that central bank deputy governors have 10 years prior experience and dropped a rule that…
QNB's second-quarter profit falls after loan provisions more than double
Qatar National Bank’s second-quarter profit fell after it booked sharply higher loan loss provisions due to the global economic conditions,…
UAE real estate sector braced for tough recovery in wake of Covid-19
The UAE’s real estate sector faces unprecedented uncertainty amid the continued fallout from the Covid-19 pandemic, according to industry experts.…
Bank of Sharjah posts Dh488m 2019 loss from Lebanese subsidiary
Bank of Sharjah Group on Thursday announced its results for full year 2019 following nearly six month delay caused by…
Bank of Sharjah announces financial results for the period ended 31 December2019
Bank of Sharjah P.J.S.C has announced the results of the year ended 31 December 2019. The following Management Discussion…
UAE provided financial facilities worth Dhs5.8bn to non-profit organisations in Q1 2020
The Central Bank of the UAE has said that the value of financial facilities provided to non-profit organisations and the…
COVID-19 headwinds to hurt Saudi banks’ profitability
Saudi Bank’s profitability that witnessed improvement in the first quarter of 2020 is likely to be impacted by COVID-19 headwinds…
Saudi banks witnessed improving profitability in Q1 2020 – A&M
Profitability at Saudi Arabia’s top banks improved during the first quarter of the year. However, the sector will face challenges…
Israel pushes back creation of sovereign wealth fund as gas revenue trickles in
Israel has pushed back the creation of a sovereign wealth fund because tax revenue from natural gas has not yet…
Kuwait banks warn of millions in losses as loan repayments are delayed
A number of Kuwaiti banks have warned of millions of dollars in losses due to delays of repayments of loans…
GCC banks’ profitability to decline by 20% this year: Moody’s
Twin challenges from the coronavirus outbreak and the drop in oil prices will severely dent profits of GCC banks this…