Absa Group, recognized as South Africa’s third-largest lender, is set to enter the UAE market in 2026. The decision comes as the bank aims to capitalize on the growing investment and business interests between the Middle East and Africa. The bank plans to establish an office in Dubai during the first quarter of 2026, pending...
Several banks operating in the UAE have recently launched a financial calculator within their mobile applications. This tool aims to help individuals track their monthly income against their expenditures, emphasizing the importance of maintaining a balance between the two and avoiding overspending. According to this new service, which is provided free of charge to clients,...
Banks are poised to report substantial trading revenues in the first quarter of 2025, driven by a volatile market that has sparked increased investor activity. According to BCG Expand, a research and data provider owned by Boston Consulting Group, the total revenue pool for global markets is expected to expand at an annual rate of...
Emirates NBD, the banking group in the Middle East, North Africa, and Türkiye (MENAT) region, has launched the ‘Emirati Business’ package, specifically designed for businesses owned by UAE Nationals. This new offering aims to provide a comprehensive suite of services and benefits, enhancing the banking experience for Emirati entrepreneurs. The introduction of the Emirati Business...
Abu Dhabi Commercial Bank (ADCB) announced that S&P Global Ratings has upgraded its long-term issuer credit rating to ‘A+’ from ‘A’ with a ‘stable’ outlook. This elevation is attributed to the bank’s robust financial position and high asset quality. The upgrade places ADCB among the top three highest-rated banks by S&P in the MENA region....
HSBC Holdings Plc is set to intensify its investment banking efforts in Asia and the Middle East, following its recent withdrawal from significant operations in Europe and the United States, as stated by Chief Executive Officer Georges Elhedery. This restructuring initiative is projected to yield $1.5 billion in efficiency savings, allowing HSBC to invest in...
Accenture has partnered with the Commercial Bank of Dubai (CBD) to enhance the skills of the bank’s employees in the areas of data and artificial intelligence (AI). This initiative marks a significant step as CBD becomes the first bank in the UAE to implement an enterprise-wide data literacy program, empowering its workforce to obtain certifications...
The National Bank of Kuwait (NBK) is actively supporting the “Let’s Be Aware” banking awareness campaign, which was initiated by the Central Bank of Kuwait (CBK) in partnership with local banks and the Kuwait Banking Association (KBA). This campaign aims to enhance financial literacy, promote financial inclusion, and educate customers from various segments of society...
The National Bank of Fujairah has successfully finalized a financing agreement worth $100 million for the construction of a clinker production unit by Pure Cement LLC. This agreement is a single currency term loan aimed at supporting the growth of the cement production sector in the region. This significant investment highlights the bank’s commitment to...
Abu Dhabi First Bank Egypt has announced the launch of “FABMISR E-Connect,” a new digital platform designed specifically for large enterprises and multinational corporations. This innovative platform demonstrates the bank’s commitment to providing advanced banking solutions that redefine customer experience. The E-Connect FABMISR platform offers a comprehensive banking experience, enabling companies to monitor and manage...