The GCC banking sector recorded lower returns in 2016, particularly due to increased provisioning and impairment charges as loan asset quality remained under pressure. In the UAE, the banking sector posted a 6. 3 per cent decline in net profit in 2016 although it recorded a return on top investment banks in uae of 1.
Top 50 banks in the GCC report. Wholesale trade is growing, along with transport communication, and tourism and travel. Among UAE banks, Emirates NBD’s loans rose by 7 per cent year-on-year, while Abu Dhabi Commercial Bank’s rose by 8 per cent. Dubai Islamic Bank’s financing portfolio also grew strongly. First Gulf Bank, was announced in 2016 and has recently been finalised. The merger is significant as it creates an institution that can compete regionally and internationally. FADB will become the number one wholesale bank in the region with international reach.
The bank will look to drive growth in core home market sectors and will be able to better serve UAE corporates with international ambitions as well as support international companies operating in the country. It will invest in distribution capabilities and focus on cross-selling wealth management products and services. The GCC’s banking sector showed its resilience in 2015, growing its bottom line despite a number of big challenges. This year will remain testing but strong forecasts and continued expansion in the non-oil sector are expected to boost performance. US fourth-quarter GDP growth revised up to 2.
Dubai: The top four UAE banks that account for more than 60 per cent of the banking system assets in the country have maintained stable profitability supported by higher yields and stable funding costs generating higher net interest income according to rating agency Moody’s. Lending volumes were only modestly higher for all the banks except FAB, which experienced a 7 per cent decline when compared with the first quarter of 2017. Emirates NBD gets nod for Dh7. With a daily BPA audited paid circulation of over 93,068 as of June 2017, and an online audience of 5. 3 million uniques every month, it is your go to source for information on the region. US fourth-quarter GDP growth revised up to 2. DUBAI: The General-Secretariat of the Union of Arab Banks, UAB, has announced the inclusion of 85 Arab banks among the top 1,000 banks in the world, including 20 from the UAE.