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Alpha Dhabi Holding has revealed its financial results for H1 2024. The group achieved a net profit of AED 6.7B for the six months ending 30 June 2024. Revenue surged to AED 29.3B, a 32% increase year-on-year (YoY).

The Central Bank of the UAE (CBUAE) reported a record balance sheet of AED 789.82B by the end of April 2024, marking the first time it has reached this level. This represents a year-on-year increase of 25 percent from approximately AED 631.63B in April 2023, according to a report released by the CBUAE today.

The balance sheet of the Central Bank of the UAE (CBUAE) reached a record AED 771.23B by the end of March 2024, marking a 30% increase year-on-year from approximately AED 594.12B in March 2023, as reported by the CBUAE today..

H.E. Abdulaziz Al-Ghurair, Chairman of UAE Banks Federation (UBF), the sole representative and unified voice of the UAE banks, said that the increase in consumer confidence in the UAE banking sector from 84% in 2022 to 90% in 2023 reflects its continuous development, as customer trust is an important pillar in banking and finance. He explained that the UAE ranks above the global average in the Trust Index and ranks higher than prominent international financial centres, which confirms the banking sector’s ability to meet the requirements of diverse customer segments.

Alpha Dhabi Holding has reported record revenue of AED14.2B ($3.87B) and net profit of AED4.6B ($1.25B) for the first quarter of 2024

UAE banks’ investments exceeded the AED 650M mark by the end of February 2024, reaching their highest level in history, according to the latest statistics from the Central Bank of the UAE (CBUAE).

Saudi Arabia tops the latest Forbes ranking of the most valuable banks, boasting 10 entries valued at $279.50B (AED 1T).

Securities and Commodities Authority (SCA) of the UAE actively enforced a regulation (pdf) since last Sunday, prohibiting onshore banks from promoting or marketing foreign funds to retail investors. This regulation allows only funds registered with the SCA to be marketed in the UAE to retail investors.

International Holding Company (IHC), the Abu Dhabi-based investment giant, disclosed preliminary unaudited financial results for 2023, illustrating a year of noteworthy growth and strategic expansion.

Japanese retail investors are reportedly channeling funds into Indian stocks, anticipating that the South Asian…