RAS AL KHAIMAH / WAM The National Bank of Ras Al Khaimah (RAKBANK) on Wednesday reported its financial results for the first quarter of 2023 (Q1 2023) ending on March 31. RAKBANK delivered a Net Profit increase of 105 percent for Q1 2023 driven by a robust and diversified growth on both sides of the balance sheet. This was underpinned …

BLOOMBERG UBS Group AG warned that wealthy clients are turning increasingly risk-averse, adding to challenges for Switzerland’s largest bank as it embarks on the complex task of integrating Credit Suisse Group AG. Shares of UBS fell as much as 5.4% in Zurich trading after the lender reported the weakest quarterly profit in more than three years, along with an outlook …

Abu Dhabi / WAM Abu Dhabi Islamic Bank (Adib) reported a growth in net profit of 54% for the first quarter of 2023 to AED1.1 billion from AED715 million in Q1 2022, underpinned by healthy business growth and higher margins. Revenue for Q1 2023 improved by 45% to AED2.0 billion compared to AED 1.4 billion in the corresponding period of …