Latest news with #commercialbank
Khaleej Times
17 hours ago
- Business
- Khaleej Times
Abu Dhabi Commercial Bank first half net profit grows 18% to hit Dh5.9b
Abu Dhabi Commercial Bank (ADCB) on Tuesday reported a pre-tax profit of Dh5.94 billion for the first six months of 2025, up 18 per cent year-on-year, as the bank's strategic initiatives, digital transformation, and diversified income streams propelled strong growth across key metrics. Net profit after tax stood at Dh5.01 billion despite a higher tax provision under the UAE's new 15 per cent corporate tax regime. In the second quarter alone, ADCB posted a pre-tax profit of Dh3.03 billion, marking a 17 per cent year-on-year increase, while net profit after tax reached Dh2.57 billion. Operating income for Q2 rose by 22 per cent to Dh5.73 billion, supported by a surge in both interest and non-interest revenues. The bank's cost-to-income ratio fell to a record low of 26.4 per cent in Q2, reflecting a 620-basis-point improvement from a year earlier. Ala'a Eraiqat, group chief executive officer of ADCB, attributed the strong results to consistent execution of the bank's five-year strategy and favourable domestic macroeconomic conditions. 'ADCB is delivering strong and consistent progress on its strategic agenda. We have now achieved four years of consecutive quarterly profit growth. Our performance in the first half of 2025 reflects an exceptional operational and financial outcome across all our core businesses,' he said in a statement. 'Our double-digit revenue growth has been driven by robust credit expansion, continued customer acquisition, and a significant rise in non-interest income, which now accounts for 34 per cent of total operating income. This growth has been underpinned by disciplined cost control and operational efficiencies, especially from our ongoing digital and AI transformation,' Eraiqat added. The bank's net interest income rose seven per cent year-on-year in H1 2025 to Dh7.05 billion, while non-interest income soared 36 per cent to Dh3.69 billion. Operating profit before impairments increased 22 per cent to Dh7.77 billion in the first half, supported by strong growth in trading income and fee-based businesses. Deepak Khullar, group chief financial officer, highlighted ADCB's resilient balance sheet growth and strong asset quality. 'Net loans increased by Dh28 billion to reach Dh378 billion, up 8 per cent year-to-date and 14 per cent year-on-year. Deposits grew by Dh42 billion to Dh463 billion, with CASA deposits rising by Dh21 billion to Dh207 billion and now representing 45 per cent of total deposits,' Khullar said. 'Credit quality has improved significantly, with our non-performing loan (NPL) ratio reducing to 2.02 per cent from 3.04 per cent at the end of last year. Provision coverage has strengthened to 173.1 per cent, and including collateral, total coverage stands at 279 per cent,' he added. Total assets reached Dh719 billion, up 17 per cent year-on-year and 10 per cent since the start of 2025. Capital adequacy and CET1 ratios remained strong at 15.53 per cent and 12.21 per cent, respectively. Liquidity coverage ratio stood at 135.2 per cent, and the loan-to-deposit ratio was at a healthy 81.7 per cent. The bank's Retail Banking division saw significant momentum, adding over 68,000 new customers in Q2, the majority through digital channels. CASA deposits in retail rose 25 per cent year-on-year, and assets under management increased 35 per cent, driven by new investment products and personalised AI-powered offerings. The Corporate and Investment Banking Group (CIBG) also posted a strong quarter, onboarding over 125 new large corporate and GRE clients and establishing over 2,200 new SME and mid-sized corporate relationships. The group played a key role in regional capital markets, acting as joint lead manager on major sukuk issuances for DP World, ADNOC, and Saudi Arabia's Public Investment Fund. The bank also continues to innovate in financial services. In Q2, ADCB launched Meedaf, an ADGM-licensed entity providing operational services to financial institutions, and partnered with Brink's to elevate cash and ATM managed services. ADCB was among the first banks certified to participate in the UAE Central Bank's Al Tareq Open Finance platform, completing the country's first transaction under the initiative. In Egypt, ADCB's operations remained strong, with net profit rising 39 per cent year-on-year, supported by healthy loan growth. Al Hilal Bank, the group's Islamic banking arm, continued advancing its digital-first strategy, recording increased product uptake and deposit inflows. Eraiqat reaffirmed the bank's commitment to long-term value creation. 'ADCB's 12-month shareholder return of 75 per cent reflects growing investor confidence, and our market capitalisation has now crossed the Dh100 billion mark. We remain focused on sustainable growth, prudent capital deployment, and supporting the UAE.
Bloomberg
a day ago
- Business
- Bloomberg
JPMorgan Forms New Banking Team Focused on Bespoke Financings
JPMorgan Chase & Co. created a unit in its commercial and investment bank focused on bespoke financing structures across public and private markets. The business, dubbed strategic financing solutions, will be a collaboration between banking, markets and sales, according to an internal memo Monday. It will initially focus on structured private solutions, infrastructure finance, strategic asset-backed securities finance, merchant banking and direct lending.
Globe and Mail
07-07-2025
- Business
- Globe and Mail
Webster Financial Corporation Announces Q2 2025 Earnings Release and Conference Call
Webster Financial Corporation (NYSE: WBS), the holding company for Webster Bank, N.A., today announced the following details for its second quarter 2025 earnings release and conference call: *** About Webster Financial Corporation: Webster Financial Corporation ('Webster') (NYSE: WBS) is the holding company for Webster Bank, N.A. ('Webster Bank'). Headquartered in Stamford, CT, Webster is a values-driven organization with more than $80 billion in total assets. Webster Bank is a commercial bank that provides a wide range of financial products and services to businesses, individuals, and families across three differentiated lines of business: Commercial Banking, Healthcare Financial Services, and Consumer Banking. While its core footprint spans the Northeast from the New York metropolitan area to Rhode Island and Massachusetts, certain businesses operate in extended geographies. Webster Bank is a member of the FDIC and an equal housing lender. For more information about Webster, including past press releases and the latest annual report, visit the Webster website at
Globe and Mail
24-06-2025
- Automotive
- Globe and Mail
Credit Acceptance Announces Extension of Revolving Secured Line of Credit Facility
Southfield, Michigan, June 24, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the 'Company', 'Credit Acceptance', 'we', 'our', or 'us') announced today that we have extended the maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2027 to June 22, 2028. As of June 24, 2025, we did not have a balance outstanding under the facility. There were no other material changes to the terms of the facility. Description of Credit Acceptance Corporation We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who actually end up qualifying for traditional financing. Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasdaq Stock Market under the symbol CACC. For more information, visit
