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Emirates NBD Bank PJSC s aggressive retail lending has enabled the Dubai-based bank to eclipse larger rival First Abu Dhabi Bank PJSC in the retail banking segment, but the United Arab Emirates top bank by assets has the resources to claw back market share.
The two lenders, each majority-owned by the governments of their respective emirates, dominate the UAE s banking sector. Combined, they account for 50.93% of total UAE banking assets, according to S&P Global Market Intelligence data, which also shows that the pair are the second- and third-largest banks in the Middle East and Africa by assets. Emirates NBD has expanded consumer lending, increasing the size of its retail loan book 51% to 91.7 billion dirhams in 2020 from 60.9 billion dirhams in 2017, according to the data.
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BEIRUT, May 10, 2021 /PRNewswire/ Al-Qabas, Kuwait s top newspaper, just launched a state-of-the-art digital platform powered by Artificial Intelligence that includes a web portal, mobile app and cutting-edge Content Management System. This digital platform, designed and developed by Eurisko Mobility, will give readers on-the-go access to Al-Qabas TV, Al-Qabas audio books and their very own My Page section, a personalized news page tailored to each reader s preferences.
Eurisko Mobility & Al-Qabas release a cutting-edge AI-powered digital platform (PRNewsfoto/Al-Qabas,Eurisko Mobility) Engineers and user experience experts from Eurisko Mobility and content specialists from Al Qabas worked with a wide variety of focus groups – including users from different age groups and demographics – to create a truly unique and hyper personalized digital platform , said Faisal Karkoh, Digital development manager at Al-Qabas.
ADCB reports Q1 net profit of $310m; huge 436% jump
ABU DHABI, 6 hours, 45 minutes ago Abu Dhabi Commercial Bank PJSC has reported Q1’21 net profit of AED1.121 billion ($310 million), a growth of 436% year-on-year and 11% sequentially (quarter-on-quarter). Announcing its financial results for the first quarter of 2021 (Q1’21), the bank highlighted strong financial performance driven by aggressive cost management discipline, significantly higher non-interest income and marked improvement in cost of risk, a WAM report said. According to a bank statement, the net interest income of AED2.119 billion was 10% lower sequentially and 24% lower year on year mainly on account of the low interest rate environment and subdued macro-economic conditions.
Abu Dhabi Commercial Bank earns $1 billion profit in calendar 2020 theusnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theusnews.com Daily Mail and Mail on Sunday newspapers.