UAE’s ADCB sells NPL portfolio worth $1.1bln to investment funds
UAE’s Abu Dhabi Commercial Bank PJSC (ADCB) has sold a portfolio of non-performing loans (NPL) worth 4.2 billion dirhams ($1.1 billion) to investment funds advised by Davidson Kempner Capital Management […]
Mashreq’s 2022 net profit climbs to $1bln as customer deposits rise
Mashreq, a leading Dubai-based lender, on Monday reported a remarkable jump in 2022 net profit to Dh3.7 billion as operating profit surged 39. per cent to Dh4.4 billion year-on-year. […]
UAE Central Bank issues new guidelines to combat money laundering
The UAE Central Bank has issued new guidelines for licenced financial institutions, including banks, finance companies, exchange houses and insurance companies, agents and brokers, to combat money laundering and the financing […]
First Abu Dhabi Bank raises $500m through Islamic bond
First Abu Dhabi Bank, the UAE’s largest lender by assets, has raised $500 million through a sukuk or Islamic bond, marking the first global sukuk issuance in 2023. The five-year sukuk was […]
First Abu Dhabi explored offer for Standard Chartered
First Abu Dhabi Bank, the UAE’s largest lender, said it had considered making an offer for the emerging markets-focused Standard Chartered listed in London. “First Abu Dhabi Bank confirms that […]
UAE’s ADIB buys additional stake of 2.4% in Egyptian unit
UAE-based Abu Dhabi Islamic Bank has purchased an additional stake of 2.4% in Abu Dhabi Islamic Bank Egypt (ADIB) for EGP 155.328 million, equivalent to an average price of EGP 16.18 per […]
Dubai lender Emirates NBD to issue 3-yr dirham-denominated bond
Dubai’s biggest lender Emirates NBD has mandated banks to arrange a three-year fixed rate UAE dirham-denominated bond, a document reviewed by Reuters showed. The senior, unsecured bond, […]
Bank of China lists $300mln bonds on Nasdaq Dubai
Bank of China, one of China’s top four state-owned banks, has listed $300 million bonds on Nasdaq Dubai, the United Arab Emirates’ state news agency WAM said on Tuesday. […]
Dubai’s Emirates NBD announces leadership shake-up
Dubai’s top lender Emirates NBD has announced a shake-up of its senior management, as it positions itself to grow opportunities in wealth, mergers and acquisitions, and venture capital. Marwan Hadi, […]
UAE Central Bank issues new banknote for National Day
The Central Bank of the UAE (CBUAE) has launched a new banknote of Dh1,000 denomination to mark the 51st UAE National Day. The note is made of polymer and uses […]
