Banking

  Dubai / Emirates Business Emirates NBD, a leading banking group in the region, became the first bank worldwide to pilot ‘KinTrans,’ a technology that enables easy two-way communication between sign language communicators with hearing disabilities, and people who use spoken languages. The bank’s commitment to people with disabilities supports the ‘#MyCommunity’ initiative launched by His Highness Sheikh Hamdan bin ...

  Bloomberg Britain’s major banks are making it tougher for consumers to get unsecured credit, which may slow the pace of lending that the Bank of England has identified as a risk to financial stability. In its Credit Conditions survey, the BOE said its measure of the availability of unsecured credit fell to minus 6.6 in the first quarter, to ...

  ABU DHABI / WAM The Union National Bank (UNB) on Wednesday reported a net profit of AED452 million in the first three months of 2017, compared to AED 450.0 million in the same period a year ago, according to the bank statement on April 12. Mohammad Nasr Abdeen, Chief Executive Officer, UNB, said, “The liquidity situation in the market ...

  Abu Dhabi / WAM Mashreq, a UAE-based bank, posted a three percent increase in the year 2017’s first quarter net profits, with earning per share reaching AED3.08 as of March 2017. The bank in a statement attributed the increase in net profits to AED 546 to a 15% decrease in impairment allowance, a 3.6 percent year-on-year decline in net interest ...

  Bloomberg ‘Short is sweet’ is the mantra at global banks advising investors on India’s sovereign-debt market. Deutsche Bank AG and Standard Chartered Plc are among lenders favoring front-end notes amid bets that a banking system awash with cash will help keep short-term rates in check, even as rising supply and the central bank’s hawkish tone threaten to push up ...

  Dubai / Emirates Business Dubai Islamic Bank (DFM: DIB), the first Islamic bank in the world and the largest Islamic bank in the UAE by total assets, announced its first quarter results for the period ended March 31, 2017. Group Net Profit increased to AED 1,042 million, up 4% compared with AED 1,001 million for the same period in ...

  Bloomberg Deutsche Bank AG Chief Executive Officer John Cryan said he plans to focus on restoring revenue growth after the lender raised 8 billion euros ($8.5 billion) from shareholders to bolster capital. In a letter to employees, Cryan said he will aim for “prudent growth,” even as cost reductions continue. While many investors and analysts in Europe were still ...

  Bloomberg With two weeks to go before a referendum that could remodel Turkey’s political landscape, the Central Bank of Turkey (TCMB) pushed interest rates to the upper reaches of its monetary framework and depleted its policy tool of choice: flexibility. The bank’s average interest rate was 11.47 percent, near the mathematical limit of its current funding mix. That leaves ...

  Bloomberg As India’s monetary policy committee begins its two-day meeting, the inflation-targeting central bank may be using flawed price measures as the basis for its swing to neutral policy. All 50 economists in a Bloomberg survey predict the Reserve Bank of India (RBI) will leave the repurchase rate unchanged at 6.25% on Thursday, as price pressures appear to be ...

  Bloomberg Deutsche Bank AG, which slashed bonuses for a second straight year, saw several senior employees leave after paying out deferred compensation for previous years. At least three executives — Kevin Burke, Neil Hosie and Patrick Kelly — departed from the lender’s trading unit in Asia, and one executive, Holger Knittel, took a new job in the bank’s home ...