While total assets of Dh612 billion increased 17 per cent from last year and 8 per cent in the year so far, net loans of Dh332 billion were up 22 per cent year-on-year. New credit…
Tag: growth
Electric vehicle sales growth stalls in Europe
Sales of hybrids, not including plug-in hybrids, rose by 21 percent to just over 2 million, or nearly 30 percent of the market. Sales of battery electric vehicles ticked 1.6 percent higher,…
Oman’s Islamic banks report 13.2 per cent asset growth
During the same period, Shariah-compliant units extended financing totalling $16.3 billion (Dh59.8 bilion), reflecting a 12 per cent annual increase, as reported by the Central Bank of Oman. Deposits in these banks…
UAE economy set for more growth in the second half of this year
The UAE economy is set for more growth in the second half of this year, achieving qualitative leaps and exceptional accomplishments thanks to a stable investment and economic environment capable of continuing…
CBUAE's gold reserves see 12.6% year-on-year growth by end of March 2024
Abu Dhabi: The value of gold reserves of the Central Bank of the UAE (CBUAE) reached Dh19.615 billion by the end of March 2024, marking a year-on-year (YoY) growth of 12.6 per…
UAE experienced a 53% y-o-y growth in real-time payment transactions in 2023, says study
According to ACI Worldwide’s 2024 Prime Time for Real-Time report, published in collaboration with Global Data, real-time payments are fast becoming the foundation of the UAE’s economy. The report underscores the nation’s…
Abu Dhabi's industrial sector thrives with 9.1% growth in 2023
The report from the Abu Dhabi Department of Economic Development (ADDED) noted a 51.5 per cent increase in industrial licenses issued in 2023 compared to 2022, and a 3.5 per cent rise…
Bahrain-owned Gulf Air growth plan curbed by engine issues, jet availability
“Both manufacturers realize the challenges, but they need to really step up in terms of finding solutions to the reliability of their engines,” Goh said in an interview. At the same time,…
Dubai Taxi Co. keeps eyes open for new growth opportunities in Dubai and beyond: CEO
Dubai: All the numbers slotted into place for Dubai Taxi Company over the first three months of 2024 – be it the revenue or profit tallies or the number of rides on…
Loan growth at ADCB drives 26% rise in Q1 pre-tax profit to Dh2.431b
Abu Dhabi Commercial Bank (ADCB) recorded net profit before tax of Dh2.431 billion during the first quarter of 2024, an increase of 26 per cent, primarily driven by solid loan growth in the…