Manus on Markets: An 'inflection point' for risk
Manus Cranny, The National's geo-economics editor, cuts through the noise and presents insights from the stories making headlines around the world.
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Khaleej Times
2 hours ago
- Khaleej Times
CBI reports pre-tax net profit of Dh93m in the first half of 2025
Commercial Bank International, a leading UAE bank, on Thursday announced that pre-tax net profit increased by 4 per cent YoY from Dh90 million in H1-24 to Dh93 million in H1-25. The Bank reported pre-tax net profit of Dh48 million for Q2-25. Operating profit increased by 134 per cent YoY from Dh68 million in H1-24 to Dh158 million in H1-25 aided by gains on non-core asset disposals and by 34 per cent in Q2-25 YoY from Dh33 million to Dh45 million. Net loans and advances grew by 3 per cent from Dh12.5 billion as at Jun'24 to Dh12.9 billion as at Jun'25. Customer deposits grew by 7 per cent from Dh14.2 billion as at Jun'24 to Dh15.2 billion as at Jun'25. Deposits mix improved favourably during H1'25 with the CASA ratio improving 6 per cent YoY enabling CBI to maintain an optimal funding structure Capital adequacy ratio improved from 15.3 per cent as at Jun'24 to 17.6 per cent as at Jun'25, driven by an improvement in the equity position Ali Sultan Rakkad Al Amri, CEO of Commercial Bank International, commented: 'Our H1 2025 results, underpinned by steady performance and profitability, demonstrate clear progress in our ongoing strategic transformation and strong momentum across our core business areas.' He added: 'The numbers also reflect the strength of the customer relationships we are building across the UAE. At CBI, we remain relationship-driven, committed to building lasting customer relationships and delivering a banking experience that is tailored, relevant and responsive. We will carry on actively enhancing our service offerings, providing refined solutions that align with the needs of individuals and businesses across the UAE. As we look to the future, we will continue to build with agility, innovation and valued-led partnerships.'
Zawya
3 hours ago
- Zawya
CBI reports pre-tax net profit of AED93mln in H1'25, up 4% Year-on-Year and AED48mln for Q2'25
Abu Dhabi, UAE – Commercial Bank International PJSC ('CBI' or 'the Bank') (ADX Symbol: CBI; ISIN: AEC000101019), a leading UAE bank, has today announced its financial results for the first half of 2025. Key Financial Highlights H1 2025: Pre-tax net profit increased by 4% YoY from AED 90 million in H1-24 to AED 93 million in H1-25. The Bank reported pre-tax net profit of AED 48 million for Q2-25 Operating profit increased by 134% YoY from AED 68 million in H1-24 to AED 158 million in H1-25 aided by gains on non-core asset disposals and by 34% in Q2-25 YoY from AED 33 million to AED 45 million Net loans and advances grew by 3% from AED 12.5 billion as at Jun'24 to AED 12.9 billion as at Jun'25 Customer deposits grew by 7% from AED 14.2 billion as at Jun'24 to AED 15.2 billion as at Jun'25. Deposits mix improved favourably during H1'25 with the CASA ratio improving 6% YoY enabling CBI to maintain an optimal funding structure Capital adequacy ratio improved from 15.3% as at Jun'24 to 17.6% as at Jun'25, driven by an improvement in the equity position Ali Sultan Rakkad Al Amri, CEO of Commercial Bank International, commented: 'Our H1 2025 results, underpinned by steady performance and profitability, demonstrate clear progress in our ongoing strategic transformation and strong momentum across our core business areas.' He added: 'The numbers also reflect the strength of the customer relationships we are building across the UAE. At CBI, we remain relationship-driven, committed to building lasting customer relationships and delivering a banking experience that is tailored, relevant and responsive. We will carry on actively enhancing our service offerings, providing refined solutions that align with the needs of individuals and businesses across the UAE. As we look to the future, we will continue to build with agility, innovation and valued-led partnerships.' Amid global market changes and regional shifts, CBI's performance is indicative of a disciplined approach to growth – measured, sustainable and grounded in deep market understanding and customer insight. With a stable foundation and sharp strategic direction, CBI is well positioned to support long-term growth, delivering value to both its customers and stakeholders. CBI Awards for H1 2025 Outstanding Contribution to Fintech Enablement and Digital Payments Infrastructure in the UAE World Union for Arab Bankers Most Innovative Sustainable Partnership Middle East & North Africa Stevie Awards Most Innovative Corporate Bank 2025 UAE Business Awards 2025 MEA Markets Banking Innovations Excellence Award 2025 UAE Business Awards 2025 Abo ut Commercial Bank International (CBI) Commercial Bank International (CBI) is a leading UAE bank dedicated to empowering businesses and individuals through innovative, personalised, and growth-focused banking solutions. Established in 1991 and headquartered in Dubai, CBI offers a diverse range of services, including corporate, retail, and Islamic banking solutions. Leveraging its innovative capabilities, CBI provides bespoke banking services to help clients achieve their ambitions. CBI is listed on the Abu Dhabi Securities Exchange (ADX) and is regulated by the Central Bank of the UAE and the Securities and Commodities Authority (SCA). In recognition of its client-centric culture and dedication to driving innovation in the banking sector, CBI has received numerous awards for innovation in technology and financial services, winning multiple Stevie Awards including Most Innovative Sustainable Partnership, and Outstanding Contribution to Fintech Enablement and Digital Payments Infrastructure in the UAE from the World Union for Arab Bankers. The Bank is majority-owned by UAE shareholders, and its Board of Directors benefits from strong representation of UAE nationals.
Khaleej Times
6 hours ago
- Khaleej Times
Trump says US will set 15% tariff on South Korean imports under new deal
President Donald Trump said late on Wednesday the U.S. will charge a 15% tariff on imports from South Korea, down from a threatened 25%, as part of a deal that eases tensions with a top-10 trading partner and key Asian ally. South Korea also agreed to invest $350 billion in the United States in projects selected by Trump and to purchase energy products worth $100 billion. The arrangement, announced after Trump met with Korean officials at the White House, came during a blizzard of trade policy announcements. Many countries are rushing to cut deals ahead of August 1, when Trump has promised higher tariffs will kick in. "I am pleased to announce that the United States of America has agreed to a Full and Complete Trade Deal with the Republic of Korea," Trump wrote on Truth Social. The negotiations were an early test for South Korean President Lee Jae Myung, who took office in June after a snap election. He said the deal eliminated uncertainty and set U.S. tariffs lower than or at the same level as major competitors. "We have crossed a big hurdle," Lee said in a Facebook post. Trump said Lee would visit the White House "within the next two weeks" for his first meeting with the U.S. president. South Korea will accept American products, including autos and agricultural goods into its markets and impose no import duties on them, Trump added. South Korea's top officials said the country's rice and beef markets would not be opened further, and discussions over U.S. demands on food regulations continue. Seoul appeared to have defended its non-tariff barriers while keeping its tariff rate on par with Japan and the European Union, said Citi economist Kim Jin-wook. "While the headline figure looks like a huge win for the U.S., details appear to be favorable for South Korea," he said. Devil in the details South Korea seems to have avoided the worst, agreed Cheong In-kyo, a former South Korean trade minister. But he also said opinions about the deal could change if the $350 billion was not well spent. It was not clear what the investment would involve, where the financing would come from, over what time frame deals would be implemented and to what extent their terms would be binding. Trump said additional South Korean investments would be announced later. Of the total, $150 billion is aimed at a shipbuilding partnership, while $200 billion would include chips, nuclear power, batteries, and biotechnology, Kim Yong-beom, the South Korean presidential office's policy chief, told a briefing. He said "ambiguity is good", while adding that negotiators had ensured there would be safeguards over how the funds were used. Existing investment plans by South Korean companies would be part of the fund, according to another presidential official. U.S. Commerce Secretary Howard Lutnick said in a post on X that 90% of the profits from the $350 billion fund were "going to the American people." Kim said South Korea understands that to mean that some profits could be reinvested. The energy purchases would include LNG, LPG, crude oil, and a small amount of coal, he added. "This is within our usual import volume," he said, noting it might lead to a "slight shift" in the country's mix of imports from the Middle East to more American sources. Lutnick said the energy purchases would happen "over the next 3.5 years." The tariff rate on South Korean autos would also be 15%, Lutnick said, which is down from the current rate of 25%. Lutnick also said semiconductor and pharmaceutical exports would not be treated more harshly than those from other countries. Steel, aluminum, and copper were not covered by the new deal. Scramble in South Korea South Korea is one of three Asia-Pacific countries that had a comprehensive free trade agreement with the United States, but that did not spare it from new tariffs. Negotiations took place in a turbulent political environment in South Korea with former President Yoon Suk Yeol removed in April after he was impeached for trying to impose martial law. Pressure on negotiators increased after Japan clinched its deal earlier this month. South Korea has been a particular target of Trump for its trade surplus and the cost of maintaining some 28,500 U.S. troops in the country to defend against North Korea. Last year South Korea posted a record $55.7 billion trade surplus with the United States, up 25% from a year earlier. South Korean companies welcomed the deal, saying it would reduce uncertainty. Amid the last-minute push to reach a tariff agreement, Samsung Electronics inked a $16.5 billion chip deal with Tesla . LG Energy Solution also signed a $4.3 billion deal to supply Tesla with energy storage system batteries, a person familiar with the matter said.
