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First Abu Dhabi Bank

First Abu Dhabi Bank News

First Abu Dhabi Bank CEO Hana Al Rostamani. The bank is hiring Citi deal-making veteran Linos Lekkas as its new head of investment banking

First Abu Dhabi Bank plans major restructuring

First Abu Dhabi Bank (FAB) is planning to split its operations into four new divisions in a bid to strengthen its business in the Gulf and boost shareholder returns, two sources familiar with the matter said. As part of the reorganisation, FAB is to hire Citi dealmaking veteran Linos Lekkas as its new head of […]

Mashreq Group CEO Ahmed Abdelaal. Mashreq has the highest dividend yield among UAE banks

Mashreq and First Abu Dhabi winning bank efficiency race

Dubai’s Mashreq bank, the UAE’s fifth-largest by assets, slashed its cost-to-income ratio, an important banking metric, last year thanks to the partial sale of a subsidiary and more customers switching to non-interest-bearing accounts. The cost-to-income ratio shows the relation between income and the cost of acquiring that income. A declining ratio suggests that a bank […]

AEF bonds King Abdullah Financial District

Arab Energy Fund raises $650m in bonds

The Arab Energy Fund, formerly known as Apicorp, has raised $650 million in a five-year bond issue that was oversubscribed 1.4 times. AEF is a multilateral lender focused on the Mena energy sector, with headquarters in Riyadh. It initially planned to raise $500 million but increased the issue size after demand surged, attracting more than […]

Pension funds managed by third parties are pillars of many stock markets – and could be in the UAE too

UAE pension plans aim to ease end-of-service headaches

Pensions are a headache for governments, companies and employees alike. How to provide staff with a comfortable retirement that could last for decades? Historically, staff leaving UAE companies receive a substantial one-off payout from their employer, the amount increasing significantly the longer the period of service. But this “defined benefit” system can cause financial difficulties […]

A branch of Dubai Islamic Bank. Its share price is up 23% over the past 12 months

Share price rally tipped to keep rolling for UAE banks

A year-long rally in share prices for major UAE banks still has some steam in it, underpinned by loans growth and attractive dividend yields, analysts have said. In the 12 months to February 11, the share price of Abu Dhabi Commercial Bank (ADCB) surged by almost 40 percent. Shares in Emirates NBD, Mashreq and Dubai […]

Wynn Resorts RAK loan, Ras Al Khaimah casino, RAK casino, Wynn Resorts Gulf, Wynn Resorts loan, Wynn Resorts finance

Wynn Resorts secures loan for RAK casino

The Wynn Resorts joint venture behind the Gulf’s first casino in Ras Al Khaimah has secured a $2.4 billion loan to finance its development. The Wynn Al Marjan Island JV — which includes RAK Hospitality Holding and Las Vegas’ Wynn Resorts — secured the seven-year loan facility, denominated in a combination of AED and USD […]