Abu Dhabi Commercial Bank’s Post

Following stellar Q2 financials from ADIB - Abu Dhabi Islamic Bank, I was joined by Acting Group CEO Mohamed Abdel Bary, CFA on Al Arabiya News Channel. We covered the factors behind their strong growth, including a 15% rise in deposits and 19% increase in financing. We also discussed market share, loan-to-deposit ratio, capital adequacy, and the significant drop in non-performing loans, plus insights on maintaining profit margins amid potential #Fed rate cuts. #ADIB

The #QE Index and the #QETF both closed lower for the week by -1.95% and -1.97%, respectively. For the week, the index witnessed 2 advancers against 18 decliners. Leadership in terms of price performance, for the week, came from #Vodafone Qatar +1.25%, #Dukhan Bank +1.17%, and #Estithmar Holding -0.15%. The #QETF is a great investment tool towards diversification and gaining a broader exposure to the QE Index. www.qetf.com.qa   #Qatar_Stock_Exchange #Doha_Bank #Qatar_Bursa #Investing_in_Qatar #Exchange_Traded_Funds

Abu Dhabi Commercial Bank (ADCB) is making a strategic move into Kazakhstan's financial market. ADCB has acquired 100% of the common shares of Al Hilal Islamic Bank, solidifying its status as a banking holding. This expansion highlights ADCB's strong financial standing and commitment to growth, backed by significant support from the UAE government. #Banking #Finance #Kazakhstan #ADCB #GlobalExpansion #Investment #FinancialNews

If you are unsure whether a post dated cheque you received might be honored or not, you can find out the likelihood of the cheque bouncing with a service provided by Al Etihad Credit Bureau (AECB). This service is only available for cheques issued through UAE banks and dated within the upcoming 9 months. #ChequeBouncingPrediction #AECB #KANConsultancy

Zand is thrilled to announce a game-changing partnership with Dubai Land Department #RERA. This collaboration signifies the first-ever integration of blockchain and AI technologies into real estate Escrow, paving the way for a new era of security, efficiency, and transparency in the industry. Zand's cutting-edge blend of technology and banking solidifies our position at the helm of real estate transaction transformation. Our commitment to innovation is reshaping the real estate transaction landscape, making it more secure, efficient, and transparent for all parties involved. Choose Zand, the digital bank that’s not just leading but defining the future of innovative banking. #Zand #DigitalBanking #DigitalEconomy #Blockchain #AI

BBK (Bank of Bahrain and Kuwait) has expressed optimism for the global growth outlook in 2024, highlighting factors like early action on interest rates, commodity price adjustments and the resolution of geopolitical issues. Speaking on the sidelines of a ceremony at the Gulf Hotel Bahrain Convention and Spa yesterday, where the bank rewarded employees for excellence and long years of service, Dr AbdulRahman Saif, the group chief executive of BBK, one of Bahrain’s biggest banks, said they are actively managing their liquidity and balance sheet position in response to these anticipated changes. Read more: https://lnkd.in/eKgWqFYd

Emirates NBD Posts Record Dh13.8 Billion H1 Profit Emirates NBD has posted a record profit of Dh13.8 billion for the first half of 2024, marking a remarkable 12% increase. This achievement is driven by strong regional demand, increased lending, and substantial impaired loan recoveries. Key Highlights: • Quarterly Profit: Surpassed Dh7 billion for the first time. • Lending Growth: 6% increase, surpassing Dh500 billion. • Emirates Islamic: Achieved its highest-ever profit of Dh1.7 billion, with the balance sheet exceeding Dh100 billion. • Retail Lending & Credit Card Market Share: Record performance with a one-third market share of UAE credit card spend. • Assets Under Management: Grew by 41% year-on-year. Shayne Nelson, the group CEO, highlighted the outstanding performance across all business units and emphasized the bank’s commitment to becoming a data-first, digital-focused, and environmentally responsible regional powerhouse. Patrick Sullivan, the group CFO, noted the healthy credit environment and the positive revisions in loan growth and cost of risk guidance. Despite higher interest rates, net interest income remained strong at Dh1.4 billion. Looking forward to continued growth and success, leveraging a market-leading banking infrastructure to drive future growth. #EmiratesNBD #FinancialSuccess #RegionalPowerhouse #DigitalTransformation #SustainableBanking #RecordProfit

The #QE Index and the #QETF closed higher for the month by +0.48% and +0.98%, respectively. For the month, the index witnessed 9 advancers against 11 decliners. Leadership in terms of price performance, for the month of August came from #Vodafone Qatar +6.45%, #Ooredoo +5.45%, and #Doha Bank +5.39%. The #QETF is a great investment tool towards diversification and gaining a broader exposure to the QE Index. www.qetf.com.qa #Qatar_Stock_Exchange #Doha_Bank #Qatar_Bursa #Investing_in_Qatar #Exchange_Traded_Funds

ADIB - Abu Dhabi Islamic Bank has reported a 45% growth in net profit for 2023, reaching Dh5.25 billion compared to Dh3.62 billion in 2022. The bank's Q4 2023 net profit reached Dh1.5 billion, reflecting a 29% growth compared to Q4 2022. Revenue for 2023 increased by 36% to Dh9.3 billion, driven by income diversification and growth across all business segments. The cost-to-income ratio improved to 32.9%, a 2.0 percentage point improvement from the previous year. ADIB also announced a dividend of 71 fils per share, equivalent to 49% of net profit. Total assets increased by 14% to Dh193 billion, with customer deposits rising by 14% to Dh157 billion. Gross customer financing increased by 6% to Dh120.2 billion. The bank maintained a strong capital position with a common equity tier 1 ratio of 12.2% and a total capital adequacy ratio of 16.8%. The eligible liquid asset ratio was 21.0%, comfortably within regulatory requirements. #UAE #Abudhabi #Islamic #Bank #Net #Profit

Part of coverage for #CMF24 taking place in Hong Kong #saudiarabia Saudi Exchange #stockmarket #capitalmarket #bahrain #saudivision2030 #hongkong #ملتقى_الأسواق_المالية24