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Banking & Finance

UAE launches credit bureau
Bankers expect new checks will curb bad lending and speed up loan approvals
Barclays to cut 19,000 jobs in three years
The carve-up means the investment bank will account for no more than 30 percent of Barclays’ risk-weighted assets, down from half now.
Emirates NBD launches ‘DirectRemit’
Emirates NBD on Sunday announced the launch of ‘DirectRemit,’ a first-of-its-kind remittance service that allows Non-Resident Indian (NRI) customers to remit money to any HDFC Bank account in India in just 60 seconds, a direct bank transfer service that is the fastest in the UAE.
Two Asian Banker awards for ADCB
Abu Dhabi Commercial Bank, or ADCB, received two prestigious awards — Best Domestic Cash Management Bank in United Arab Emirates and Best Deposit Product Business in Middle East Award 2014 — at the recent Asian Banker Awards ceremony.
Emirates NBD issues A$400m fixed rate notes
The notes are rated Baa1 by Moody’s and A+ by Fitch, and pay a fixed rate coupon of 5.75 per cent.
UAB banking partner of Gitex events
United Arab Bank, or UAB, is the sole official banking partner of the next two editions of Gitex Shopper, the region’s largest and much-anticipated consumer electronics retail platform in the Middle East with power retailers and world-class brands.
NBAD gets market-making licence
NBAD is expected to start practicing this activity during the thrid quarter of this year after finalising some technical requirements in collaboration with UAE markets.
Bank Muscat Q1 net profit jumps 59%
Bank Muscat, Oman’s largest lender, missed analysts’ expectations despite posting on Wednesday a 59.1 per cent jump in its first-quarter net profit, as it didn’t repeat a one-off fraud provision that it was forced to make last year.
Sharjah Islamic Bank posts 30% rise in profits
Sharjah Islamic Bank (SIB) on Wednesday announced its first quarter 2014 results with net profits reaching Dh110 million, compared to the Dh84.8 million achieved in the same period last year, a 30 per cent growth rate.
UAE banks do great in first quarter
Market cap surges 78% in quarter, buoyed by positive economic indicators.
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