Spiritual leader the Aga Khan dies aged 88
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Al Etihad
4 days ago
- Al Etihad
Lower interest rates spur strong loan growth at UAE banks amid Gulf-wide lending boom
5 Aug 2025 18:36 A. SREENIVASA REDDY (ABU DHABI)Leading UAE banks posted robust loan growth and strong second-quarter profits in 2025, capitalising on a lower interest rate environment across the Gulf, according to a report by S&P Global Market Intelligence. The favourable monetary conditions helped stimulate lending across the GCC, but UAE lenders, particularly First Abu Dhabi Bank (FAB) and Emirates NBD, stood out for their growth momentum and upgraded full-year the country's largest bank by assets, reported a 10.71% year-on-year increase in loan growth, accelerating from 6.34% in the same period last year. The performance prompted FAB to upgrade its full-year loan growth guidance to the low double-digit range, from an earlier single-digit outlook. The bank also posted a record net profit of $1.50 billion in the second quarter, marking a 29% jump from $1.16 billion a year NBD, another top-tier UAE bank, reported even higher loan growth at 14.28%, also revising its full-year guidance upward to the low double digits. Its net interest income (NII) grew 6% year-on-year to $2.28 billion. However, the bank's net interest margin (NIM) narrowed by 22 basis points to 3.36%, largely due to pressure from its Turkish subsidiary, DenizBank. A $31 million impairment charge dragged Emirates NBD's quarterly profit down by 10% compared to a year earlier, when the bank had posted a reversal of $374 million in positive loan growth trend was mirrored across other Gulf markets, with Saudi Arabia's Al Rajhi Bank reporting the sharpest year-on-year rise among major regional lenders. Al Rajhi's loan book expanded by 19.31%, up from 7.37% a year earlier. The bank also posted a 25% jump in NII to $1.95 billion, supporting a 31% rise in net profit to $1.64 billion for the National Bank (QNB) posted 9.38% loan growth and revised its full-year loan guidance to 7%–9%, up from 5%–7%. Almost half the growth stemmed from Turkey, according to Durraiz Khan, senior vice president for group financial consolidation. QNB's NII rose to $2.34 billion, up from $2.12 billion a year ago, although margin pressures persisted due to high rates in Turkey. Khan noted that a projected rate cut in Turkey could aid NIM recovery in the second half of the National Bank also recorded solid loan growth, rising to 12.21% from 10.25% in the prior-year UAE-based banks, such as Abu Dhabi Commercial Bank (ADCB) and Dubai Islamic Bank (DIB), also saw steady growth. ADCB reported high single-digit loan growth and continued to expand its retail and SME lending book. DIB maintained its strong performance in corporate and Islamic finance segments, benefitting from improved liquidity and lower funding costs. S&P analysts said they expect loan growth momentum to continue in the UAE, Saudi Arabia, and Qatar, supported by anticipated US Federal Reserve rate cuts later in the year, which Gulf central banks are expected to follow. As rates soften further, banks in the region—particularly those with diversified portfolios and strong funding bases—are poised to benefit from increased credit demand and margin stabilisation.
Al Etihad
31-07-2025
- Al Etihad
NBF posts Dh625.4 million net profit in H1 2025, up 41.8%
31 July 2025 20:01 ABU DHABI (ALETIHAD) National Bank of Fujairah (NBF) has reported its strongest-ever half-year net profit, posting Dh625.4 million for the six-month period ended June 30 2025, up 41.8% compared to Dh441.2 million in H1 2024. Profit before tax rose to Dh687.6 million from Dh484.9 million in the same period last performance was underpinned by strong business growth, prudent risk management, and lower impairment provisions. The bank's total comprehensive income stood at Dh669 million, up 56% year-on-year, supported by an improvement of Dh43.6 million in investments through other comprehensive profit rose 17.6% to Dh994.2 million, while operating income increased 12.9% to Dh1.4 billion. Net interest income and Islamic financing income grew 4.9% to Dh926.1 million. Net fees, commission and other income surged 37% to Dh314.7 million, while foreign exchange and derivatives income climbed 22.1% to Dh110.7 the balance sheet side, total assets grew by 5.7% to Dh64.3 billion. Loans and Islamic financing receivables rose 10.3% to Dh35.7 billion. Customer deposits reached Dh47.6 billion, up 4%. Investments rose 8.9% to Dh10.3 billion. Asset quality improved, with NPL ratio dropping to 4.6% and provision coverage increasing to 133.4%.Return on average assets improved to 2.0%, while return on equity jumped to 17.9%. Capital adequacy ratio remained strong at 16.5%. Dr. Raja Easa Al Gurg, Deputy Chairperson, said, "We are pleased with the NBF franchise growing and posting another set of stellar results in the first half of 2025. Against the backdrop of heightened uncertainty, we continued to deliver remarkable results across our diversified verticals, reinforcing our commitment to delivering enhanced shareholder value and achieving sustainable growth."
Al Etihad
31-07-2025
- Al Etihad
Islamic Treasury Sukuk auction for July 2025 attracts bids worth Dh5.35 billion
31 July 2025 19:02 ABU DHABI (WAM) The Ministry of Finance (MoF), in its capacity as the issuer and in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and payment agent, announced the successful completion of the July 2025 auction of the UAE Dirham-denominated Islamic Treasury Sukuk (T-Sukuk) amounting to Dh1.1 issuance forms part of the T-Sukuk issuance programme for the year 2025, as published on the MoF's official auction attracted robust demand from eight primary dealers across both tranches maturing in August 2028 and May 2030. The total bids received reached Dh5.35 billion, reflecting an oversubscription of nearly five times and underscoring the strong confidence of investors in the UAE's creditworthiness and Islamic finance auction results highlighted competitive, market-driven pricing with a Yield to Maturity (YTM) of 3.88% for the August 2028 tranche and 3.95% for the May 2030 tranche, on par with comparable US Treasuries at the time of Islamic T-Sukuk programme plays a vital role in supporting the development of the UAE's dirham-denominated yield curve, offering secure investment instruments for a wide range of investors. Furthermore, it reinforces the local debt capital market, contributes to the development of the broader investment landscape, and supports the UAE's long-term economic sustainability and growth objectives.
