Latest news with #Darna
Zawya
5 days ago
- Business
- Zawya
Darna for Real Estate & Construction reveals 'DRC'
As part of its comprehensive expansion strategy, Darna for Real Estate and Construction has unveiled a new visual identity under the name DRC – Darna for Real Estate & Construction. This rebranding initiative is aligned with the company's broader strategic vision to reinforce its footprint in Egypt's real estate market, unlock new growth opportunities, and broaden its portfolio of current and upcoming projects. Mohamed El-kot, Chief Development Officer at DRC, stated that the introduction of the new identity represents a significant strategic milestone in the company's evolution. He explained that the rebranding reflects a more progressive and innovative approach, marking the start of a new growth phase centered on improving operational efficiency and adapting swiftly and effectively to market dynamics and the evolving needs of clients and investors. He added, 'We are not merely redesigning a logo—we are reintroducing our company to the real estate market with well planned development plans that reflect our future ambitions. The new identity represents a more advanced and growth-ready phase, embodying our firm commitment to delivering high-quality projects that make a real difference and meet the aspirations of our clients and partners in success.' He noted that the launch of the new visual identity is part of a broader strategy to redefine the brand and ensure cohesive and consistent communication across all customer and partner touchpoints, thereby strengthening the company's presence and enhancing its distinction in the real estate market. He further pointed out that this step builds on a distinguished track record that began in 1990, when Darna was established as a company specializing in real estate and construction. Over the past three decades, the company has successfully completed 47 projects across prime locations, including New Cairo, Nasr City, El Shorouk, Maadi, and Heliopolis, with a total built-up area exceeding 120,000 sqm. He stated that landmark projects such as TERRACE, LONG ISLAND, and MC3 represent significant milestones in DRC's portfolio. Recognized for their exceptional design, strategic locations, and superior construction quality, these projects reflect the company's deep-rooted expertise in delivering high-quality real estate developments. El-kot disclosed that DRC continues to expand its real estate portfolio, having successfully developed Terrace Mall, a mixed-use development launched in 2019 and delivered in 2021. The project integrates commercial, administrative, and medical spaces within two buildings, each featuring a ground floor plus three upper levels, complemented by three underground levels dedicated to parking facilities. Strategically located in El Shorouk City, the project hosts major international brands and leading banks and is currently entering a new phase of expansion. The company also successfully completed long Island, a second home project in Marsa Matrouh, delivered to the highest standards of quality. In addition, the company has delivered MC3 (Medical Centre 3), a premium medical project in Nasr City that highlights both DRC's sectoral breadth and the strength of its diverse portfolio, which it aims to further expand in the near future to align with evolving market needs. He concluded that the company is entering a new phase of growth and expansion, building on past achievements while paving the way for broader real estate ventures. The company revealed its preparations for a new project, which is expected to serve as a key milestone in its expansion strategy and a distinctive landmark in East Cairo.
Emirates 24/7
22-04-2025
- Business
- Emirates 24/7
Emirates NBD Reports 56% Surge in Profit Before Tax to AED 7.8 Billion
Emirates NBD's Profit Before Tax Rises 56% to AED 7.8 Billion on Strong Loan Growth and Improving Deposit Mix; Assets Surpass AED 1 Trillion Milestone 22 April 2025 Emirates NBD's Profit before tax rose 56% to AED 7.8 billion as strong lending momentum, an improvement in deposit mix and new products drove an 11% year-on-year increase in income. The balance sheet surpassed the AED 1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional economy. Deposits grew by 5%, driven by a record AED 27 billion increase in low-cost Current and Savings Account balances. Loans grew AED 18 billion in the first quarter of 2025, with over half of the increase sourced from the growing International network. Emirates Islamic's quarterly profitability crossed the AED 1 billion mark for the first time ever, highlighting its position as a leading Islamic bank in the UAE. The region's growing affluent population propelled Assets Under Management to USD 50 billion, affirming Emirates NBD's successful focus on Wealth Management and new products. Strategic investment in the Group's regional footprint, Digital and GenAI, are generating income, helping to offset the impact of lower interest rates. Key Highlights – Q1 2025 Profit before tax rose 56% quarter-on-quarter on significant loan growth from regional expansion, a low-cost funding base, and strong transaction volumes. Assets surpassed the AED 1 trillion milestone. Total income increased 5% to AED 11.9 billion on strong loan growth and an improving low-cost funding mix. Loans grew by 3.5% in Q1-25, with lending rising by AED 18 billion, over half of which came from the International network. Deposits grew AED 31 billion in Q1-25, including a record AED 27 billion increase in Current and Savings Accounts, reinforcing deposit mix as a key strength of the Group. An impairment credit of AED 0.5 billion reflected impressive recoveries as clients benefited from a buoyant regional economy, improving the impaired loan ratio to 3.1%. Emirates Islamic's quarterly profit exceeded AED 1 billion for the first time ever. Emirates NBD's Investment in Customer Focused Services & Products Emirates NBD achieved a 35% market share of UAE Credit card spend, with over AED 50 billion Credit and Debit card spend in Q1-25. The bank launched its first Abu Dhabi retail and lifestyle 'Darna' cobranded credit card in partnership with Aldar. It offered free local equity trading on award-winning ENBD X and EI+ apps, supporting regional stock markets. Emirates NBD became one of the region's top banks for Customer Experience with a Net Promoter Score of 48. KSA network expansion contributed to an impressive 15% loan growth in Q1-25. The Bank delivered AED 46 billion of new lending, achieving 7% Retail loan growth and 6% Corporate loan growth in Q1-25. New Structured Credit, Commodity and Investment products were introduced, driving a substantial income increase from both local and international clients. The ALM Markets desk was ranked the number one M-Bill primary dealer by the Central Bank of the UAE for 2024. Corporate CASA growth was backed by best-in-class digital escrow capabilities, APIs, and virtual accounts. Emirates NBD Capital was the number one investment bank for UAE IPOs and MENA Loans, and maintained its Top 3 position for international sukuks. 93% of new current accounts were opened via mobile app (40%) or assisted Tablet (58%). Assets Under Management across the Group grew to USD 50 billion, reflecting the ongoing success of the Bank's wealth management strategy. Looking to the Future Emirates NBD is transforming into a data-first, digital-focused, and environmentally responsible regional powerhouse. ENBD X was launched in KSA, upgrading the digital offering in the Kingdom. The Bank launched crypto trading through Liv X in partnership with Aquanow and Zodia Custody. More than 750,000 users engaged with WhatsApp banking. Emirates NBD Pay formed a strategic partnership with Visa's Cybersource platform to accelerate advanced digital payment solutions for clients, and collaborated with Mastercard to enhance Digital Payment Solutions, becoming the first bank globally to offer Mastercard's Brighterion AI technology. Further fintech collaborations were made with Partior (blockchain payments) and iPID (beneficiary validation). Big-data analytics expanded new merchant acquiring opportunities. Over 50 active Advanced Analytics use cases positioned Emirates NBD as a data-first bank. The Bank received the best ESG rating for any Bank in the region by S&P Global and became the first bank in MENA to publish an inaugural ISSB report. Emirates NBD now has the highest number of LEED Platinum certified branches of any bank globally. Executive Commentary Hesham Abdulla Al Qassim, Vice Chairman and Managing Director, stated that Emirates NBD's Profit before tax grew substantially by 56% to AED 7.8 billion in the first quarter of 2025, driven by strong regional expansion, increased digital adoption, an outperforming funding base and sustained loan recoveries. The balance sheet surpassed the AED 1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional economy. All business units achieved outstanding performance with higher year-on-year income. Emirates Islamic's quarterly profit exceeded AED 1 billion for the first time ever, with very strong Customer Financing growth of 7% in Q1-25, highlighting its position as an Islamic banking powerhouse in the UAE. Emirates NBD commanded a 35% market share of UAE Credit card spend and processed more than AED 50 billion Credit and Debit card spend in Q1-25. Lending grew by AED 18 billion, with over half the increase sourced from the growing International network. Shayne Nelson, Group Chief Executive Officer, said Emirates NBD delivered an 11% year-on-year increase in income, propelled by excellent loan growth and the Group's ability to attract and retain low-cost deposits. He noted that strategic investment in the regional footprint, Digital and GenAI, helped offset the impact of lower interest rates. Innovative products successfully harnessed growth areas, including Private Banking, Wealth Management, Escrow, regional Corporate growth, and Investment Banking. Strategic partnerships are accelerating advanced digital payment solutions, with expanded collaboration with three exciting FinTech companies in blockchain payments and beneficiary validation. Big-data analytics is actively expanding new merchant acquiring opportunities with over 50 Advanced Analytics use cases, positioning Emirates NBD as a data-first bank. Patrick Sullivan, Group Chief Financial Officer, highlighted that profit increased by 56% over the preceding quarter to AED 6.2 billion in Q1-25 on higher income, lower costs, and an impairment credit. The Group's low-cost Current and Savings Account deposit base grew by a record AED 27 billion, helping absorb the impact of lower interest rates. A healthy credit environment and a buoyant economy resulted in a net impairment credit of AED 0.5 billion. Strong loan growth was supported by retained earnings, solidifying Emirates NBD's rock-solid balance sheet and positioning it as a regional powerhouse. The investment in people, network, technology, and products is delivering new sources of income. Outlook The non-oil economy in the UAE started 2025 on a strong footing with signs of robust activity in Q1-25. A healthy domestic economy, backed by significant private and public sector investment and a growing population, will support growth this year. In Saudi Arabia, strong activity was supported by the Government's extensive investment programme. Oil production is due to increase in both the UAE and Saudi Arabia, while revenue diversification is helping to insulate the economies from oil price volatility. In Egypt, inflation is coming under control, supporting private sector expansion, while Türkiye's monetary policy is helping to curb inflation. Awards Emirates NBD was awarded Middle East's Best for UHNW, UAE's Best for UHNW, Middle East's Best for Next Gen, and UAE's Best for Next Gen at the Euromoney Private Banking Awards 2025. Emirates NBD Capital won Best Investment Bank in the Middle East and Best Investment Bank in the UAE at the Global Finance World's Best Investment Bank Awards 2025, and also won Best Impact Investing Solution at the Global Finance's Sustainable Finance Awards 2025: Middle East. Further awards included Financial Institutions Bond Deal of the Year, Debt (Bonds & Loans) House of the Year, Loan House of the Year, Local Equity Capital Markets House of the Year, and Islamic Syndications House of the Year at the Global Banking & Markets: Middle East Awards 2025. Emirates NBD also won the HR Innovation Award in EMEA by Oracle Excellence Awards 2025. Emirates NBD has a leading retail banking franchise, with 839 branches and 4,539 ATMs/SDMs in the UAE and overseas. It is a major player in the UAE corporate and retail banking arena and has strong Islamic banking, investment banking, private banking, asset management, global markets & treasury, and brokerage operations. The bank operates in the UAE, Egypt, India, Türkiye, the Kingdom of Saudi Arabia, Singapore, the United Kingdom, Austria, Germany, Bahrain, Russia, and representative offices in China and Indonesia. Follow Emirates 24|7 on Google News.
Zawya
22-04-2025
- Business
- Zawya
Emirates NBD's profit before tax rises 56% to AED 7.8 billion
Assets surpass AED 1 trillion milestone Emirates NBD's Profit before tax rose 56% to AED 7.8 billion as strong lending momentum, an improvement in deposit mix and new products drove an 11% year-on-year increase in income. The balance sheet surpassed the AED 1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional economy. Deposits grew by 5%, driven by a record AED 27 billion increase in low-cost Current and Savings Account balances. Loans grew AED 18 billion in the first quarter of 2025, with over half of the increase sourced from the growing International network. Emirates Islamic's quarterly profitability crossed the AED 1 billion mark for the first time ever, highlighting its position as a leading Islamic bank in the UAE. The region's growing affluent population propelled Assets Under Management to USD 50 billion, affirming Emirates NBD's successful focus on Wealth Management and new products. Strategic investment in the Group's regional footprint, Digital and GenAI, are generating income, helping to offset the impact of lower interest rates. Key Highlights – Q1 2025 Profit before tax 56% higher q-o-q on significant loan growth from regional expansion, a low-cost funding base and strong transaction volumes Assets surpass AED 1 trillion milestone Total income up 5% to AED 11.9 billion on strong loan growth and improving low-cost funding mix 3.5% loan growth in Q1-25, as lending grew AED 18 billion with over half of the increase from International network Deposits grew AED 31 billion in Q1-25, including a record AED 27 billion increase in Current and Savings Accounts , reinforcing deposit mix as a key strength of the Group Impairment credit of AED 0.5 billion on impressive recoveries as clients benefit from a buoyant regional economy with impaired loan ratio improving to 3.1% Emirates Islamic's quarterly profit exceeds AED 1 billion for the first time ever Emirates NBD's investment in customer focused services & products is propelling business growth 35% market share of UAE Credit card spend; over AED 50 billion Credit and Debit card spend in Q1-25 Launched Bank's first Abu Dhabi retail and lifestyle ' Darna ' cobranded credit card in partnership with Aldar Free local equity trading on award winning ENBD X and EI+ apps, supporting regional stock markets Emirates NBD one of region's top banks for Customer Experience with Net Promoter Score of 48 KSA network expansion driving an impressive 15% loan growth in Q1-25 Excellent AED 46 billion of new lending helped deliver 7% Retail loan growth and 6% Corporate loan growth in Q1-25 New Structured Credit, Commodity and Investment products introduced, driving a substantial increase in income from both local and international clients ALM Markets desk ranked the number one M-Bill primary dealer by the Central Bank of the UAE for 2024 Corporate CASA growth backed by best-in-class digital escrow capabilities, APIs and virtual accounts Emirates NBD Capital is the number one investment bank for UAE IPOs and MENA Loans, and maintained its Top 3 position for international sukuks 93% of new current accounts opened via mobile app (40%) or assisted Tablet (58%) Assets Under Management across the Group grew to USD 50 billion, reflecting ongoing success of the Bank's wealth management strategy Looking to the future, Emirates NBD is transforming into a data-first, digital-focused and environmentally responsible regional powerhouse ENBD X launched in KSA, upgrading digital offering in the Kingdom Launched crypto trading through Liv X in partnership with Aquanow and Zodia Custody More than 750,000 users of WhatsApp banking Strategic partnership between Emirates NBD Pay and Visa's Cybersource platform to accelerate advanced digital payment solutions for clients Emirates NBD Pay collaborated with Mastercard to enhance Digital Payment Solutions, becoming first bank globally to offer Mastercard's Brighterion AI technology Further fintech collaborations with Partior (blockchain payments) and iPID (beneficiary validation) Big-data analytics performs deep data mining, expanding new merchant acquiring opportunities Over 50 active Advanced Analytics use cases, positioning Emirates NBD as a data-first bank Best ESG rating for any Bank in the region by S&P Global First bank in MENA to publish inaugural ISSB report Emirates NBD has the highest number of LEED Platinum certified branches of any bank globally Hesham Abdulla Al Qassim, Vice Chairman and Managing Director said: 'Emirates NBD's Profit before tax grew substantially by 56% to AED 7.8 billion in the first quarter of 2025, driven by strong regional expansion, increased digital adoption, an outperforming funding base and sustained loan recoveries. The balance sheet surpassed the AED 1 trillion milestone boosted by impressive loan and deposit growth from a buoyant regional economy. All business units achieved an outstanding performance as they delivered higher income year-on-year. Emirates Islamic quarterly profit exceeded AED 1 billion for the first time ever, with very strong Customer Financing growth of 7% in Q1-25, highlighting its position as an Islamic banking powerhouse in the UAE. The Group commands a 35% market share of UAE Credit card spend, and we processed more than AED 50 billion Credit and Debit card spend in the first quarter of 2025. The Group delivered a very impressive 3.5% loan growth in Q1-25 as lending grew AED 18 billion, with over half of the increase being sourced from the growing International network.' Shayne Nelson, Group Chief Executive Officer said: 'Emirates NBD delivered an 11% year-on-year increase in income, propelled by excellent loan growth and our ability to attract and retain low-cost deposits. The Group's ability to substantially grow income is a direct benefit of the strategic investment in our regional footprint, Digital and GenAI, helping to offset the impact of lower interest rates. Innovative products have successfully harnessed key growth areas, including Private Banking, Wealth Management, Escrow, regional Corporate growth and Investment Banking. We continue to develop strategic partnerships to accelerate advanced digital payment solutions for clients and have expanded our collaboration with 3 exciting FinTech companies ranging from blockchain based payments to international beneficiary validation. We actively use big-data analytics for deep data mining, expanding new merchant acquiring opportunities and have over 50 active Advanced Analytics use cases, positioning Emirates NBD as a data-first bank.' Patrick Sullivan, Group Chief Financial Officer said: 'Profit increased by 56% over the preceding quarter to AED 6.2 billion in Q1-25 on higher income, lower costs and an impairment credit. The Group's low-cost Current and Savings Account deposit base grew by a record AED 27 billion in the first quarter, helping absorb the impact of lower interest rates. The credit environment remains healthy, and clients continue to benefit from a buoyant economy, leading to a net impairment credit of AED 0.5 billion. Retained earnings helped support strong loan growth and the rock-solid balance sheet makes Emirates NBD a regional powerhouse, providing the platform for future growth. The investment in people, network, technology and products is clearly delivering new sources of income.' Outlook The non-oil economy in the UAE started 2025 on a strong footing with signs of robust activity in Q1-25. A healthy domestic economy backed by significant private and public sector investment, along with a growing population, will support growth this year. In the Kingdom of Saudi Arabia, activity has also been strong as the Government carries out an extensive investment programme. Oil production is due to increase in both the UAE and KSA this year, while revenue diversification is helping to provide some insulation to the economies from volatility in oil prices. In Egypt, inflation is continuing to come under control which should allow the private sector to expand while Türkiye's monetary policy is helping to curb inflation.
Ya Biladi
21-03-2025
- Business
- Ya Biladi
Flemish-Moroccan Cultural center Darna closes in Belgium
In service since 2017 to succeed Daarkom, the Flemish-Moroccan cultural center Darna has closed at its own request, considering that the managing nonprofit organization «was not functioning as it should» and that «the objectives were not fully achieved». On Thursday, the Flemish Minister of Culture, Caroline Gennez (Vooruit), confirmed before the Culture Committee of the Flemish Parliament that the continuity of the structure was uncertain. Last year, the board of directors of Darna «conducted its own evaluation» before reaching out to the overseeing ministers, reports Bruzz. Initially set up to replace the first Flemish-Moroccan House on Wolvengracht, the center benefited from a memorandum between the Flemish and Moroccan governments, as well as subsidies from both parties. Under this agreement, the association responsible for managing the activities and operations of the space was intended to «bridge Flanders and Morocco through cultural events», including gatherings around cinema, music, and an annual festival. Due to insufficient effectiveness relative to the resources allocated, Minister Gennez and her Moroccan counterpart «decided to pull the plug on Darna», as it was deemed not to be functioning as it should. «The objectives were not fully achieved», the minister emphasized in the committee. In this regard, Caroline Gennez mentioned the possibility of re-examining the memorandum with Morocco to ensure the sustainability of cultural cooperation on both sides. In the meantime, Darna's premises are being emptied. The nonprofit organization is considering its dissolution.
Emirates 24/7
25-02-2025
- Business
- Emirates 24/7
Aldar partners with Emirates NBD to launch its first Darna co-branded Visa credit card
Aldar, the UAE's leading real estate developer, investor, and manager has partnered with Emirates NBD, a leading banking group in the Middle East, North Africa and Türkiye (MENAT) region, to launch the Emirates NBD Darna Visa Credit Card. This exclusive co-branded credit card provides unparalleled benefits through Aldar's digital loyalty platform, Darna, making it easier than ever for customers to earn and redeem rewards across Aldar's extensive portfolio. The Emirates NBD Darna Visa Credit Card offers a generous points earning rate of up to 10% on eligible transactions within the Aldar network including shopping malls, hotels, golf courses, restaurants, and entertainment venues. In addition, a 12-month interest free payment instalment plan will be applied to school fee payments at Aldar Education and residential purchases within Aldar's sales portfolio in Abu Dhabi, Dubai, and Ras Al Khaimah. The Darna digital loyalty platform is a core part of the Live Aldar ecosystem, which brings together all lifestyle propositions, offering Aldar customers a digital one stop shop to earn rewards and benefits for their purchases. The launch of the Emirates NBD Darna Visa Credit Card further empowers that goal by providing a seamless, fully digital experience and currency for customers across all touchpoints. Jassem Saleh Busaibe, Chief Executive Officer at Aldar Investment said: 'The Darna loyalty platform brings all our lifestyle propositions together in one rewarding place and acts as the currency of our digital ecosystem, Live Aldar. With that in mind, we are delighted to introduce the new Emirates NBD Darna Visa Credit Card as we continue to extend our digital footprint and provide our customers with seamless experiences across all touchpoints of our diverse business. We are very excited about the potential of the credit card as a key enabler of customer experience and brand loyalty, and in partnering with Emirates NBD we are confident it will be a huge success.' Marwan Hadi, Group Head of Retail Banking & Wealth Management at Emirates NBD, said: 'We are thrilled to be joining forces with Aldar, a top UAE brand and a market leader in Abu Dhabi, to launch the new Emirates NBD Darna Visa Credit Card. Together, we are providing customers an array of lifestyle benefits and exceptional rewards across Aldar's widely popular and diversified properties, hospitality venues, and attractions across Abu Dhabi and the wider UAE.' Mr Hadi added: 'The introduction of the card builds on our commitment to continually improve and enhance the customer experience by partnering with leading brands who share our values and aspirations.' Dr. Saeeda Jaffar, Visa's SVP and Group Country Manager for GCC, said: "This partnership is a great example of industry leaders coming together to deliver great value. By leveraging Visa, Emirates NBD, and Aldar's expertise, we are offering our cardholders an enriched payment experience, backed by Visa's best-in-class security and worldwide acceptance at 150 million merchant partners. Visa is proud to partner with Emirates NBD and Aldar to introduce this first-of-its-kind Emirates NBD Darna Visa Credit Card, and we look forward to introducing more exciting solutions to the UAE.' Available in four tiers - Infinite Privilege, Infinite, Signature, and Select, the card unlocks a wide range of exclusive benefits, including: Instant Rewards: Earn up to 10% back as Darna Points on spends within the Aldar network and up to 1.5% back on all other spends. 1,200+ Redemption Options: Redeem Darna points effortlessly across Aldar shopping malls, hotels, restaurants, and leisure attractions using the card's built-in dual-application loyalty chip. Complimentary Darna Status: Enjoy VIP perks such as bonus birthday points, hospitality benefits, exclusive discounts, and dedicated parking. Golf Privileges: Complimentary access to top-tier golf courses across the UAE, including Trump International Golf Course, Arabian Ranches Golf Club, and Abu Dhabi Golf Club. Emirates NBD Darna Visa Credit Card holders will benefit from Aldar's worldclass ecosystem of shopping, entertainment, and dining offerings across the UAE, including Yas Mall, Mamsha Al Saadiyat, World Trade Centre, and the upcoming Saadiyat Grove in Abu Dhabi, Al Jimi Mall in Al Ain, and Al Hamra Mall in Ras Al Khaimah. Through Aldar Hospitality, card holders can enjoy rewards and benefits at a variety of premier hotels and leisure assets such as the W Abu Dhabi, Double Tree by Hilton Resort and Spa Al Marjan Island, Rixos Bab Al Bahr, golf courses, and beach clubs. Follow Emirates 24|7 on Google News.
