Latest news with #BankingExcellenceAwards
Saraha News
12-08-2025
- Business
- Saraha News
Bank ABC announces results for the period ended 30 June 2025: Net profit attributable to shareholders reaches US$ 152 million
saraha news-Bank ABC (Arab Banking Corporation B.S.C.) – Bahrain Bourse Trading Code 'ABC' – today announces its financial results for H1 2025. Bank ABC continued its resilient performance, against a backdrop of continuing global economic uncertainty, with an H1 net profit of US$152 million, a 1% headline growth over the corresponding period last year. Adjusted for foreign exchange translation differences, underlying* net profit grew by a robust 9% year-on-year (YOY), reflecting strong and diversified core business performance, underpinned by well-controlled credit costs. The Group's total assets reached a historic US$48 billion, propelled by a combination of core business momentum, FX movements as well as portfolio management activity. The Group continued to maintain healthy capital and liquidity buffers. During the period, Bank ABC received several prestigious industry awards, including 'MENA Cash Management Bank of the Year' by MEED's MENA Banking Excellence Awards and 'Best Bank for Sustainable Finance' and 'Bahrain's Best Digital Bank' by Euromoney Awards for Excellence. In addition, ila Bank was named 'MENA Retail Bank of the Year' by MEED and 'Bahrain's Best Consumer Digital Bank' by Euromoney. Bank ABC Islamic was also recognized as 'Best Sukuk House in Bahrain' by Euromoney's Islamic Finance Awards. Bank ABC's Group Chairman, H.E. Naji Belgasem remarked, 'The Group delivered strong results in the first half of 2025, particularly given the turbulent geopolitical environment that prevailed during this period. This stands testament to Bank ABC's diversified business model and focused execution of the strategy, which allows it to leverage market opportunities across the Group's international franchise while maintaining focus on balance sheet health. Business pipelines are strong, supporting confidence in revenue momentum and delivery of sustained value for all our shareholders over the remainder of the year.' Detailed summary of the Financial Results is explained below: Q2 2025 Performance Highlights Consolidated net profit attributable to the shareholders of the parent, for Q2 2025 was US$76 million, +1% higher compared to US$75 million reported for the same period last year, on a headline basis. Underlying* growth in net profit, adjusted for FX impact was+5%. Earnings per share for the period was US$0.024, in line with the same period last year. Total comprehensive income attributable to the shareholders of the parent was a positive US$99 million as compared to a negative US$28 million reported during the same period of last year. Q2 2025 benefitted from the strengthening of currencies (in particular BRL) against the US$, as compared to Q2 2024, which was impacted by the devaluation of the BRL against the US$. Total operating income for Q2 2025 was US$340 million, 3% higher compared to US$331 million reported for the same period last year. Underlying* Total Operating Income for Q2 2025 was US$353 million, compared to US$ 331 million for the same period last year, a YoY growth of +7% after adjusting for FX impact. H1 2025 Performance Highlights Consolidated net profit attributable to the shareholders of the parent, for H1 2025 was US$152 million, a growth of 1% compared to US$150 million reported last year. Underlying* growth in net profit, adjusted for FX impact was +9%, driven by a combination of higher average asset volumes and steady cost of credit. Earnings per share for the period was US$0.046, compared to US$0.046 in the same period last year. Total comprehensive income attributable to the shareholders of the parent was a positive US$253 million as compared to a negative US$56 million during the same period last year. H1 2024 was impacted by the devaluation of Egyptian pound and Brazilian Real against the US$. Total operating income for H1 2025 was US$672 million, as compared to US$674 million reported last year. Underlying* Total Operating Income was US$713 million, reflecting a growth of +6% after adjusting for FX impact reflecting broad based growth across almost all the core markets. Balance Sheet Equity attributable to the shareholders of the parent and perpetual instrument holders at the end of the period was US$4,363 million, compared to US$4,207 million reported at the 2024 year-end, after absorbing the impact of dividend payments. Total assets stood at US$48.0 billion at the end of the period, as compared to US$46.3 billion reported at the 2024 year-end, an increase of 4% driven by core business growth in the loan portfolio, FX movements and balance sheet optimization and portfolio management actions. Healthy Capital and Liquidity ratios: Tier 1 Capital ratio at 14.8%, of which CET1 at 13.0%. LCR and NSFR at 177% and 121% Bank ABC is a leading player in the region's banking industry, with a presence in 15 countries across five continents. It provides innovative global wholesale banking solutions in both conventional and Islamic Finance, across Transaction Banking, Project and Structured Finance, Capital Markets, Financial Markets, Real Estate Finance to corporates and financial institutions. It also provides consumer banking services through its network of branches in Jordan, Egypt, Tunisia, Algeria, and through ila Bank, its digital mobile-only bank, in Bahrain and ila banking app in Jordan.The full financial statements and press release are available on the Bahrain Bourse and Bank ABC's website. Bank ABC will host a virtual Investors call to discuss the H1 2025 earnings on 18 August 2025. Further details and the investor presentation are available at
Mid East Info
23-06-2025
- Business
- Mid East Info
NBO Named Best Retail Bank in Oman 2025 by MEED's MENA Banking Excellence Awards - Middle East Business News and Information
23 June 2023, Muscat: The National Bank of Oman (NBO) has been named as the Best Retail Bank in Oman 2025 at the MEED's Middle East and North Africa (MENA) Banking Excellence Awards. The prestigious recognition celebrates the bank's continuous strive to invest in innovative financial services and solutions that deliver a seamless and enhanced customer experience. Focused on convenience and trust, NBO offers a comprehensive range of retail products and services tailored to meet the diverse needs of its customers – from children and youth to high-net-worth individuals. These include Private Banking, Sadara Priority Banking, Privilege Banking, alongside Current, Savings and Deposit Accounts. In addition, the bank also provides exclusive lending solutions and a broad selection of Credit, Debit, and Badeel Prepaid Cards. To enhance customer experience, NBO's award-winning app empowers customers to manage their accounts, payments and transactions digitally. It features account opening services, loan top-ups, as well as bill payments. Through the app, customers can also apply for a credit card digitally through Oman's first fully digital credit card application facility. With the integration of Electronic Know Your Customer (E-KYC) technology, customers can update personal details while enjoying a fully digital onboarding journey, eliminating the need for physical paperwork or in-person verification. For added convenience, customers can also link their NBO debit and credit cards to Apple Pay, Samsung Wallet, and Garmin Pay, enabling seamless payments across a wide range of mobile devices. To enhance customer satisfaction, NBO's Rewards Program allows customers to earn, redeem and convert points on everyday spending using their NBO cards for a variety of options. NBO's focus on customer ease extends beyond digital channels to its physical presence across the Sultanate. The bank has introduced several innovations in Oman, including the Eid note dispensing machines, the self-service kiosks and the exclusive ATM and CDM machines that support a wide range of essential banking transactions. Supported by a dedicated team of relationship managers and a robust digital infrastructure, NBO continues to redefine the retail banking experience in Oman. Deeply aligned with Oman's national vision for a smarter, more digitally empowered future, NBO remains committed to setting new benchmarks in customer experience, financial innovation, and service excellence.
