Banking Insights ‘19
Mumbai: One of India’s largest private sector lenders slumped by a record in the bond market in the first week of October ‘19, as concerns mount over the health of the nation’s finance sector amid a shadow banking crisis.
Dubai: Total loan growth and deposit growth in the UAE’s banking system declined in August according to the latest data from the Central Bank of UAE.
The weaker pace of monthly loan growth could have reflected the traditionally quieter summer period alongside some payback from the solid growth seen in the previous two months.
The loan-to-deposit ratio and wider monetary data still points to comfortable system-wide liquidity, albeit seeing some tightening from the beginning of the year. Again, we believe that this reflects the sharp rise in government deposits in the second half of 2019, which boosted liquidity.
Dubai: HSBC Group has announced today that the transaction to increase its shareholding in HSBC Saudi Arabia to 51 per cent from 49 per cent by acquiring shares from The Saudi British Bank has been completed.
HSBC Saudi Arabia is now an indirect 51 per cent owned subsidiary of HSBC Holdings plc. SABB remains as the other shareholder in HSBC Saudi Arabia.
Dubai: Standard Chartered, a bank with strong footprints across Asia, Middle East and Africa, is to take digitisation of banking services in the UAE to its global standards.
Standard Chartered has rolled out various levels of digital banking offerings in several of the markets it operates in. In nine African countries, the bank has fully digitised operations — from onboarding of customers to delivery of all possible consumer banking products and services based on mobile apps.
Dubai: Mashreq Bank on Monday 13th of October reported Dh1.76 billion net profit for the nine-month period, up 0.5 per cent year-on-year compared to the same period last year.
For the third quarter of this year the bank reported a net profit of Dh536 million compared to Dh587 million reported in the same period last year.
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