Wednesday, December 4, 2024
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Banking & Finance

S&P Global affirms ‘AA’ ratings for UAE’s Emirates Development Bank

Arabiya Capital Staff -
The upgrade reflects the improved clarity of the bank’s strategic mandate to enable economic development and industrial growth in the UAE
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Network leads launch of UAE domestic card scheme ‘Jaywan’

Arabiya Capital Staff -
The domestic payments scheme seeks to promote digital payments by boosting card-based transactions across all segments of customers
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NBK-Egypt reports EGP 1.28 billion in net profit in Q1 2024

Arabiya Capital Staff -
Net operating income stood at EGP 2.75 billion, up 48.6% from EGP 1.85 billion recorded in the corresponding period of 2023
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Islamic banks assets increased by AED 86 billion over past 12 months

Arabiya Capital Staff -
The Islamic banks’ deposits increased to AED 509.4 billion at the end of February, reflecting an annual increase of 15.8%
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State-backed digital bank Wio Bank’s annual profit reaches $544,588

Arabiya Capital Staff -
Launched in July 2023, Wio Personal gained traction, amassing over 40,000 customers and exceeding AED 6 billion in deposits by year-end
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Kuwait’s Burgan Bank signs core banking deal with TCS BaNCS to drive transformation

Arabiya Capital Staff -
The bank’s decision to deploy TCS BaNCS reflects its commitment to adopting the latest technology to enhance customer service and employee productivity
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Egypt’s Noqood Finance secures SME finance licence

Arabiya Capital Staff -
Noqood Finance, a unit of Noqood Holding, has secured a licence to engage in financing small and medium-sized enterprises (SMEs) under the supervision of...
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EFG Hermes buys minority stake in Danish fintech, Kenzi Wealth

Arabiya Capital Staff -
The acquisition of a minority stake in Kenzi Wealth represents EFG Hermes’ significant commitment to driving innovation in the fintech sector
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Emirates NBD, Pine Labs partner to strengthen merchant acquiring solutions

Arabiya Capital Staff -
The bank plans to deliver cutting-edge merchant-acquiring processing solutions for its clients in the UAE, with plans to expand to Saudi Arabia and Egypt
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Oman’s Bank Nizwa, MSA Green sign sustainability-linked financing deal

Arabiya Capital Staff -
The initiative underscores Bank Nizwa’s dedication to leading sustainable development and advancing environmental objectives
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