Banking

ABU DHABI / WAM The Central Bank of the United Arab Emirates (CBUAE) increased its gold reserves by 19.3 percent during the first quarter of the year, adding AED4.444 billion to reach a total of AED27.425 billion at the end of March, up from AED22.981 billion at the end of 2024. According to the Central Bank’s statistical bulletin issued today, ...

ABU DHABI / WAM Emirates Development Bank (EDB), the UAE’s key financial engine for economic diversification and industrial transformation, concluded the latest edition of its flagship forum, EDB Connect, in Abu Dhabi, which brought together public and private sector leaders to explore the future of mission-critical industries and the role of innovation, policy, and financing in building a resilient, self-sufficient ...

SHARJAH / WAM Bank of Sharjah has acted as Joint Lead Manager and Bookrunner in the successful issuance of a US$500 million, three-year Green Sukuk for Omniyat Holdings, alongside other international and regional banks. The issuance attracted exceptional investor demand, with the order book oversubscribed 3.6 times. This strong interest from both international and regional investors reflects the global confidence ...

DUBAI/WAM Ajman Bank P.J.S.C., the first Islamic Bank incorporated and headquartered in the Emirate of Ajman, successfully priced a US$500 million 5-year Sukuk at a credit spread of 130 basis points over the United States treasury rate, which equates to a fixed profit rate of 5.125% per annum. The transaction garnered a high-quality orderbook peaking over US$2.7bn, representing a 5.4x ...

ABU DHABI/WAM Abu Dhabi Islamic Bank reported a Q1 2025 net profit before tax of AED 1.9 billion, rising 18% year-on-year, reflecting a strong balance sheet growth, coupled with increased business momentum and a sustained customer growth. Q1 2025 net profit before tax increased 18% compared to Q4 2024, reflecting significant growth and reinforcing the positive trajectory we have built ...

ABU DHABI/WAM Abu Dhabi Commercial Bank (ADCB) has seen the value of its brand surge to AED 12.3 billion, a 17% increase from the previous year, according to Brand Finance Journal’s latest Top 500 Banking Brands report. As a result, ADCB has advanced seven places in the global banking brand value rankings to the 102nd position. A key driver to ...

DUBAI/WAM Emirates Islamic’s quarterly profit surpassed the AED1 billion milestone for the first time, growing 24 percent year-on-year compared to the same period last year. The strong performance was supported by continued positive business sentiment in the UAE, which drove both funded and non-funded income higher. Total income rose 8 percent year-on-year to AED1.45 billion in Q1 2025. Operating profit ...

DUBAI/WAM Emirates NBD’s Profit before tax rose 56 percent to AED7.8 billion in the first quarter of 2025 as strong lending momentum, an improvement in deposit mix and new products drove an 11percent year-on-year increase in income. The bank said that the balance sheet surpassed the AED1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional ...

ABU DHABI/WAM A Forbes report has forecast that the financial technology (fintech) market in the UAE is expected to reach $3.56 billion in 2025, and $6.43 billion by 2030, with a compound annual growth rate (CAGR) of 12.56 percent, positioning the country among the fastest-growing global markets. The report, titled “What Can FinTech Learn From The UAE’s Rise As The ...

SHARJAH/WAM Sharjah Islamic Bank (SIB) commenced the year 2025 with strong financial performance during the first quarter, achieving a net profit after tax of AED318.9 million, an increase of 24.6 percent compared to AED255.9 million in the first quarter of 2024. Income from investments in Islamic financing and Sukuk grew by AED56.2 million, or 6.6 percent, reaching AED914.3 million in ...