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UAE banks’ earnings flat in 2Q as impairments surge
Impairments jumped 81% q-o-q to AED 2.9 bn, wiping out gains from a 5.5% rise in net loans and advances
Amea’s Cox inks EUR 250 mn agreement for desalination and wind power in Morocco + DIB, Emirates NBD lend to firms overseas
Plus: Yango and AD Ports expand further abroad
Rakbank raises USD 300 mn via AT1 issuance
Strong investor demand allowed the bank to tighten the note’s initial pricing by 37.5 bps
UAE’s 10 largest banks see combined net income rise 8.4% q-o-q to AED 22.2 bn in 1Q
Growth was supported by a 59.3% q-o-q reduction in impairment charges and an 18% quarterly rise in net fee and…
Rak-ing it in — 22.7% bottom line uptick for Rakbank
The bank’s total operating income rose 10.7% to AED 1.3 bn y-o-y
Adtic invests USD 120 mn in hotel in Egypt’s Giza pyramids area
Plus: Ripple becomes first DFSA-licensed blockchain payments firm in DIFC
Arabian Construction secures AED 2 bn contract for Design Quarter development from Meraas
Plus: Moody’s upgrades RAK Bank’s outlook
National Bank of Fujairah leads USD 100 mn syndicated loan for clinker plant
NBF closes USD 100 mn syndicated loan for UAE cement plant: The National Bank of Fujairah (NBF) finalized a single…
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