Ahmed Abdelaal, Group CEO of Mashreq, on humanising digital transformation, building a bank that listens, and reshaping the role of financial institutions in a changing world
banking industry
Latest in banking industry
banking industry
Mastercard, Mashreq partner to launch digital bank in Pakistan, boosting financial inclusion
New partnership aims to drive financial inclusion, innovation, and sustainable growth in Pakistan’s digital economy
Al Salam Bank-Bahrain
Al Salam Bank net profit rises 48.7% for Q4 and 39.8% for the year
Net profit attributable to shareholders for Q4 2024 is $44.3 million, while that for the full year 2024 is $156.5 million
banking industry
CBI records 30% annual growth as profit hits $60.65 million
Transformation journey pays dividends as Dubai bank revenue soars to 29% to 191.4 million and assets grow to $5.7 billion
Ajman Bank
Ajman Bank partners with Positive Zero to cut emissions, energy costs by 28% per year
The project involves a 10-year Shared Savings Energy Performance Contract (SSEPC) delivered by Positive Zero’s energy efficiency arm Taka Solutions
Bahrain
Arabian Business reveals Power of Finance 2024: The 30 top finance industry professionals in the GCC
One of the primary catalysts for the rise of the finance industry in the Middle East has been the region’s concerted efforts towards economic diversification
banking industry
Qatar banks deliver high satisfaction rates across GCC, says new KPMG report
Qatar’s high score was attributed to “favourable financial performance and the introduction of much-anticipated remittance services,” the report said
banking industry
Finance Middle East to honour industry experts in inaugural awards cermony
The inaugural Finance Middle East Awards will celebrate outstanding achievements in the Middle East’s finance industry
banking industry
Saudi Arabia, UAE banking sectors to grow faster than rest of Gulf region in 2024
The sector’s growth in both countries is driven by strong credit demand led by non-oil sector and economic diversification programs
banking industry
Iraq races to digitise unbanked population amid corruption crack down and US dollar transaction ban
Here’s how the Central Bank of Iraq’s initiatives, government mandates, and Visa’s contributions are shaping Iraq’s path towards a cashless economy by 2030, according to Visa boss Leila Serhan
banking industry
Dubai Islamic Bank picks up 20% stake in Turkey’s TOM Group
DIB has the option to increase shareholding to 25 percent within 12 months; valuations not disclosed
banking
Dubai Islamic Bank reports 15% rise in its net profit to AED3.11bn in H1, 2023
The bank said the improvement in its performance was driven by rising core revenues, controlled impairments and effective cost management
banking
UAE Central Bank imposes sanctions on 8 banks
Central Bank of the UAE imposed sanctions on eight banks in the country
bailout
First Citizens Bank to acquire SVB’s deposits, loans from FDIC
Silicon Valley Bridge Bank, National Association, had approximately $167 billion in total assets and about $119 billion in total deposits as of March 10
Bank of America Corp
Bank of America reports over $15bn in new deposits within days after SVB collapse
Other banks like JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. also raked in billions in new deposits
2008 financial crisis
Silicon Valley Bank shut down is biggest lender failure since 2008 crisis
Silicon Valley Bank assets seized by US regulators
banking business
Sharjah Islamic Bank records 27% jump in net profit in 2022 to reach AED650.9mn
The bank said despite the continuous rise in global interest rates and inflation rates in addition to fierce competition in the business environment, its adaptive and flexible strategy helped it to achieve strong financial results