Banking Sector
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UAE Banks strong enough to deal with shocks

UAE-BanksYesterday, the director-general of the Finance Ministry told any shock could be absorbed by the banks in the Banks in the UAE as they are in healthy condition to even deal with the impact of Dubai World's debt rebuilding.

Younis Al Khouri said, "The committee, which is headed by our minister, made sure that UAE banks have enough capital to absorb any shock that might come."

The UAE will also not see a federal bond issue in 2010.

Net Interest Margin expected to plunge more this year by Standard Chartered HK CEO

Standard-Chartered-LogoOn Thursday, Standard Chartered PLC's Hong Kong unit told that this year, its net interest margin may decrease even more as interest rates are unlikely to rise significantly in the near future.

Doha Bank’s Dreamcard holders to enjoy greater flexibility

Doha Bank’s Dreamcard holders to enjoy greater flexibilityDoha Bank yesterday announced an unbeatable offer to help new Dreamcard members lighten their load and their monthly repayments by transferring their card balances in other banks to Doha Bank's scheme.

UAE sees decline in mortgage credit growth

UAE sees decline in mortgage credit growthThe recently released figures by the UAE Central Bank claim that the total mortgage loans of 24 national banks and 28 foreign units reported decline in growth to stand at Dh15billion in the first 11 months of 2009. This decline in the mortgage credit growth slowed down apparently under the impact of unfavorable conditions of the economic market due to global financial crisis.

HSBC Pays the Best to Top Bankers

HSBCHSBC’s business and markets run by Stuart Gulliver, received £15.3 million. He is the bank's top paid employee, and the head of global markets Samir Asaf, received a bonus more than £9 million.

ADCB and Schroder & Co signs private banking agreement

ADCBAbu Dhabi Commercial Bank ADCB. AD and Schroder & Co Bank AG have announced to strike a partnership deal which is aimed to woo wealthy clients of UAE for offering them banking and wealth management services.

The recent partnership will not only help Schroder & Co Bank AG to expand its business outside Switzerland but also offer a handsome opportunities to tap growing opportunities in the oil rich Emirates.

Raiffeisen Seeks to Complete Merger Activities by September

Raiffeisen Seeks to Complete Merger Activities by September International Bank-Holding AG., and its non-listed parent bank, announced Friday that merging their activities would improve funding access and support balance out Raiffeisen International's risk exposure in Eastern Europe.

It also depicts that preparations involving auditors and advisor Deutsche Bank have already initiated and that the groups have considered preliminary share swap ratios.

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