The bank said higher revenue across net interest and other operating income, underpinned by solid loan growth, generated a robust increase in net profit
Finance3 weeks ago
First Abu Dhabi Bank (FAB) has announced that it will partner with Thomas Murray, a UK-based post-trade and technology company who provide guidance on local markets rules and regulations as well as systems and procedures for the trading, clearing, settlement, custody and asset servicing of securities.
FAB, a direct custodian in the UAE, Saudi Arabia, Egypt, Kuwait, Bahrain, Oman, and Lebanon, will become a key information source throughout the Middle East. Under the agreement, the bank will provide information on market changes which will be available to subscribers of Thomas Murray’s Securities Market Information (SMI) database.
The information from FAB is set to benefit subscribers, ensuring they are kept up-to-date and follow local regulations in relation to the trade and post-trade process.
Kashif Darr, managing director and head of Securities Services at FAB, said: “We are proud to partner with Thomas Murray and to be a trusted source of market developments and vital information for investors and their providers. FAB is embedded in the infrastructure of the region. We have deep and long-standing relationships with the key financial market participants across all major centres of the Middle East, which offers us intimate access to market developments and information."
Jim Micklethwaite, head of Operations, Thomas Murray, said: “We are delighted to have First Abu Dhabi Bank joining our SMI service. Their knowledge and expertise in financial services in the Middle East will be an invaluable tool for those financial institutions conducting business in the region and an outstanding addition to our 250 strong sources of information. This agreement solidifies the existing relationship which we have had with the bank for several years.”
The database is continuously updated by a team of analysts monitoring hundreds of sources to produce comprehensive market profiles for 105 countries worldwide which detail a wide range of topics such as market entry requirements, taxation or market charges.
business@khaleejtimes.com
The bank said higher revenue across net interest and other operating income, underpinned by solid loan growth, generated a robust increase in net profit
Finance3 weeks ago
The largest Islamic bank in the UAE and the second-largest Islamic bank in the world said net operating revenues showed robust growth of 11 per cent YoY to Dh2.467 billion compared to Dh2.226 billion in the same 2021 period
Finance3 weeks ago
The UAE banks have strong liquidity with liquid assets at 38 per cent of total assets as of December 2021, up from 36 per cent as of December 2020, the rating agency noted
Finance3 weeks ago
The lingering consequences of the Covid-19 pandemic have meant that shoppers today are less inclined to make lump sum payments in a single transaction
Finance1 month ago
The Sharjah-based lender said its operating profit before provisions climbed 17.1 per cent to Dh248.5 million in January-March quarter compared to Dh212.2 million in the same quarter of the previous year
Finance1 month ago
The bank said credit quality across the group’s footprint continued to improve with impairment down 20 per cent
Finance1 month ago
Banks are making profits with low default rates and surplus liquidity but on the other hand, political instability and adverse global conditions pose risks to the domestic financial system
Finance1 month ago
New website serves to provide a push for financial accountability
Finance1 month ago