Banking and Finance

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RakBank FY20 profit plunges 54% to AED505m

ADCB FY20 profit falls 27% to AED3.8b

11 banks in UAE slapped AED46m penalty

2.4 fold rise in impairment allowance at AED1.4b lands NBF in AED475m loss

Emirates NBD FY20 profit falls 52% to AED6.97b

Process to merge Insurance Authority into Central Bank of UAE begins

Three-fold surge in impairment loss lands Emirates Islamic in AED482m FY20 loss

FAB FY20 profit drops 16 % to AED10.55b; Sayegh to retire soon

FAB in agreement to acquire Bank Audi’s Egypt subsidiary

Oman’s Abou Nabil heaps Sultanate’s leading banks with $325m bad loans

UAE banks’ assets decline MoM 1.2% to AED3.2tr in November

FAB’s CNY1.5b issue becomes second bond in two days

FAB raises $500 mn through sukuk priced at 1.41%; issue oversubscribed three times

Shuaa-led consortium buys out AED1.13bn debt of SMG

Legacy employees of ‘Catholic Syrian Bank’ now a minority!

Tata Power bags Rs488cr solar project from KSEBL

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