by Jennifer George | August 6, 2024 | Banking, Breaking, Central Banks, News
The National Bank of Ras Al Khaimah has reported its financial results for the first half of 2024. RAKBANK delivered a record net profit after tax of AED 1.1 billion, with a year-on-year growth of 21% driven by diversified growth in the balance sheet, continued sales...
by Jennifer George | August 2, 2024 | Banking, Central Banks, News
On Thursday, Andrew Bailey, governor of the Bank of England, announced interest rate cuts in the UK from 5.25% to 5%.The UK’ss interest rate trim marks the first notable change in the nation’s monetary policy since the pandemic in 2020. The UK’s...
by Vasu Jit Kalia | August 1, 2024 | Banking, Central Banks
ABU DHABI, 31st July, 2024 (WAM) — The Central Bank of the UAE (CBUAE) has decided to maintain the Base Rate applicable to the Overnight Deposit Facility (ODF) at 5.40 percent. This decision was taken following the US Federal Reserve’s announcement today to keep...
by Jennifer George | August 1, 2024 | Banking, Central Banks, News, Trending Now
As July comes to a close, the Bank of Japan (BOJ) raises its benchmark interest rate to approximately 0.25%, a notable hike from the previous rates that fluctuated between 0 and 0.1%. This landmark interest rate hike serves as the highest jump in rates since October...
by Vasu Jit Kalia | July 30, 2024 | Banking, Central Banks
Arab Bank Group reported solid results for the first half of 2024, with 25% increase in net income after tax reaching $503 million as compared to $401 million for the same period last year. The Group maintained its strong capital base with a total equity of $11.5...
by Vasu Jit Kalia | July 26, 2024 | Banking, Central Banks
National Bank of Fujairah recorded a net profit after tax of AED 441.2 million during the first half of this year. According to a press release issued today, the bank’s pre-tax profits increased by 46% year-on-year to end the six-month period with a net profit of AED...
