by Jibran Munaf | October 21, 2024 | Banking
The European Central Bank (ECB) is keeping its options open for its final meeting of 2024, with Governing Council member Peter Kazimir signaling that more rate cuts are possible. Kazimir emphasized that disinflation is on “solid footing” but indicated that...
by Jibran Munaf | October 21, 2024 | Banking
China’s central bank cut its benchmark lending rates by 25 basis points on Monday, as the government seeks to stimulate the country’s flagging economy. The People’s Bank of China (PBOC) announced that the one-year loan prime rate (LPR) has been reduced to 3.1%, while...
by Jibran Munaf | October 19, 2024 | Banking, Corporate Finance
First Abu Dhabi Bank (FAB), the largest lender in the UAE, posted impressive financial results for Q3 2024, with a net profit of AED4.46 billion ($1.2 billion). This marks a 5% year-on-year (YoY) increase, driven by robust revenue growth that offset higher impairment...
by Alifiya H Ujjainwala | October 18, 2024 | Banking, Industry, News, Technology
Mashreq, a leading financial services institution in the MENA region, is migrating critical databases to Exadata Database Service on Exadata Cloud@Customer as part of an expansion of its global collaboration with Oracle. A shift to a cloud database environment will...
by Jibran Munaf | October 15, 2024 | Banking
Saudi Arabia’s bank credit to both public and private sectors reached a historic high of over SR2.8 trillion ($746 billion) by the end of August 2024, marking a significant milestone for the Kingdom’s financial sector. According to the Saudi Central Bank’s...
by Jibran Munaf | October 15, 2024 | Banking
Mashreq Bank, in collaboration with Visa, has unveiled an exciting new campaign featuring Visa’s global brand ambassador and football superstar, Mohamed Salah. This initiative, aimed at both new and existing Mashreq Visa cardholders in the UAE, offers football fans an...
