Latest news with #bankingoperations
Zawya
2 days ago
- Business
- Zawya
Al Salam Bank posts record H1 profits
Al Salam Bank has announced net profits attributable to shareholders of $98.2 million for the six-month period ended June 30 (H1 2025), reflecting an increase of 30.9% from $75 million in H1 2024, and a return on equity of 16.9%, up from 15.6% in the previous year. This increase in profitability was predominantly driven by the strong performance of the group's core banking operations. Correspondingly, earnings per share increased by 29.0% to USD31.8 cents in H1 2025, compared to USD24.7 cents in H1 2024, the bank said. During the first half of 2025, the group successfully executed a wide range of optimisation initiatives to enhance its operational efficiency which was evident in the reduction noted in the cost-to-income ratio during the period from 49.9% in H1 2024 to 45.3% in H1 2025. The group's balance sheet sustained its upward momentum, with total assets rising by 10.8% to $20.76 billion in H1 2025, up from $18.73 billion in 2024. Financing assets increased by 8.3% to $10.52 billion, while customer deposits grew to $14.07 billion, recording a growth of 7.1% from $13.14 billion as at December 31, 2024. Total shareholders' equity increased by 11.7% to $1.07 billion in H1 2025 compared to $956.2 million as at December 31, 2024, supported by the net profit recorded during H1 2025 as well as the successful closing of several key capital building initiatives including the bank's $450 million Additional Tier 1 (AT1) capital issuance. Consequently, the group achieved a strong capital adequacy ratio of 25.2% as of June 30, 2025, up from 24.8% achieved in 2024. Shaikh Khalid bin Mustahail Al Mashani, Chairman of Al Salam Bank, said: 'Building on the strong momentum set in the first quarter of 2025, Al Salam Bank sustained consistent growth across its core operations despite the turbulent geopolitical and economic landscape. As global markets remain volatile and opportunities emerge in the region, our ability to adapt and perform with resilience has been a defining strength. We remain focused on long-term value creation, underpinned by strong fundamentals, disciplined risk management, and a forward-looking strategy for sustainable growth in the second half of the year.' Rafik Nayed, Group Chief Executive Officer of Al Salam Bank, added: 'Our H1 2025 results demonstrate the resilience and adaptability of our business model. We have advanced our strategic priorities by improving our operational efficiency, investing in digital innovation and reinforcing our regional capabilities with ASB Capital. Looking ahead, we will continue to deepen client relationships and pursue opportunities across banking and asset management to fuel long-term, diversified growth.'
Wall Street Journal
24-07-2025
- Business
- Wall Street Journal
BNP Paribas Guides for Faster Profit Growth in Second Half
France's BNP Paribas BNP 1.82%increase; green up pointing triangle expects revenue and profit growth to accelerate in the latter half of the year, following second-quarter results that topped market views. The lender forecasts net profit of more than 12.2 billion euros ($14.36 billion) for 2025 on faster revenue growth in the second half of the year. The main driver will be its retail banking operations, which are set to benefit from earlier higher interest rates due to the inherent lag in loan repricing typical of French banks, given their prevalence of fixed-term lending and regulated savings accounts.
Argaam
21-05-2025
- Business
- Argaam
Alinma Bank says circulated news about system failure for 3 days inaccurate
Alinma Bank stated that the news circulating on the suspension of banking services for three days without any clarification or apology is inaccurate. In a statement, the bank said that its systems have undergone scheduled updates in accordance with the usual and periodic procedures carried out by all financial institutions, in accordance with the instructions issued in this regard, to ensure the integrity of the systems and the smooth implementation of banking operations. Clients were also informed of the update procedure as usual by sending text messages that included the update period (from 12:00 AM on Friday, May 16, 2025, until 12:00 PM on the same day). The bank also noted that limited services were affected by this partial update, which was implemented in accordance with the highest standards, contributing to a superior banking experience for all clients. Alinma Bank further explained that all of the bank's systems returned to normal operation immediately after the update, with high efficiency and effectiveness, and in accordance with the highest standards. It also explained that all of the communication channels were utilized to receive and respond to client inquiries with precision, clarity, and transparency. Meanwhile, the bank affirmed its continued commitment to providing the best services to its clients and ensuring smooth banking transactions according to the highest standards, as part of its ongoing commitment to all regulatory and oversight controls issued by legislative bodies that safeguard the rights of its clients and shareholders.
