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 Jennifer George | July 29, 2024 | Banking, Industry, News, Technology, Wealth Management
JPMorgan Chase CEO Jamie Dimon acknowledges that AI has taken over every facet of our lives and will transform the way we work. To capitalize on the AI wave, the bank has introduced a generative AI tool that “can offer information, solutions, and advice on a...
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...
by Jennifer George | July 26, 2024 | Banking, News
The UAE banking sector is showing significant promise as another one of the nation’s leading banks furnishes revenue projections for H1-2024. Abu Dhabi’s FAB has recently announced net revenue earnings of AED 15.7 billion, with a net profit of AED 8.4...
by Vasu Jit Kalia | July 25, 2024 | Banking Regulations
Mumbai, July 24 (IANS) The Reserve Bank of India (RBI) has tightened the framework for domestic money transfers in order to keep track of both cash pay-in and pay-out services. In a circular issued on Wednesday, the RBI stated that in the case of cash pay-out service,...
by Vasu Jit Kalia | July 19, 2024 | Central Banks
SHARJAH, 18th July, 2024 (WAM) – Sharjah Islamic Bank (SIB) announced an increase in its net profit by 25.8%, amounting to AED622.4 million for the first six months of 2024, compared to AED494.6 million for the same period of the previous year. Net profit after tax...
