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Mashreqbank PSC has scheduled a Board of Directors meeting on April 30, 2025, at 11:00 am. The agenda includes approving the minutes from the previous meeting on January 30, 2025, approving the bank's financial statements for the first quarter ending March 31, 2025, discussing normal business activities, and addressing any other business matters. The notice is signed by Shaima Al Obeidli, Head of Corporate Governance & Group Company Secretary, with a copy sent to the Securities & Commodities Authority.
Shuaa Capital PSC, a licensed financial investment company regulated by the Securities and Commodities Authority under license number 630307 and commercial license number 200219, has released a final list of candidates for its Board of Directors. The candidates are Mr. Ahmed Abdul Rahman Jamshir, Mr. Fahad Abdul Qader Al Qassim, and Mr. Ahmed Khalifa Al Qubaisi, all of whom are independent, non-executive members. This list will be published on the company's website and presented during the general assembly meeting. The announcement is addressed to Mr. Hamad Ahmed Ali, CEO of the Dubai Financial Market.
Union Properties PJSC invites shareholders to its Annual General Assembly Meeting on April 9, 2025, at the Ritz Carlton Hotel in Dubai and virtually. The agenda includes authorizing the appointment of the meeting's secretary and vote collector, reviewing reports from the Board of Directors, CEO, and auditors, discussing the company's financial performance, and considering a capital reduction plan. Shareholders will also discuss losses, potential auditor and director liability, board remuneration, and the appointment of new auditors. Special resolutions regarding capital reduction are proposed, with alternatives depending on shareholder approval. Shareholders can register to attend and vote electronically, appoint proxies, and access reports via the company's website. A quorum of 50% is required for the meeting to be valid, with a second meeting scheduled if necessary.
Emirates NBD reported a 56% increase in profit before tax, reaching AED 7.8 billion, driven by strong loan growth and an improved deposit mix, resulting in an 11% year-on-year income increase. The bank's assets exceeded AED 1 trillion, supported by significant loan and deposit growth in a robust regional economy. Deposits rose by 5%, with a record AED 27 billion increase in low-cost Current and Savings Accounts, while loans grew by AED 18 billion in the first quarter of 2025, with more than half from the international network. Emirates Islamic achieved quarterly profitability exceeding AED 1 billion for the first time, underscoring its position as a leading Islamic bank in the UAE. The growing affluent population in the region boosted Assets Under Management to USD 50 billion, highlighting Emirates NBD's focus on Wealth Management and new products. Strategic investments in the Group's regional presence, digital capabilities, and GenAI are contributing to income, mitigating the effects of lower interest rates. Key highlights for Q1 2025 include a 56% increase in profit before tax due to significant loan growth from regional expansion, a low-cost funding base, and strong transaction volumes. Total income rose by 5% to AED 11.9 billion. Loans grew by 3.5% in Q1 2025, with AED 18 billion in lending, and deposits increased by AED 31 billion, including a record AED 27 billion in Current and Savings Accounts. The impaired loan ratio improved to 3.1% due to impressive recoveries, and Emirates Islamic's quarterly profit exceeded AED 1 billion for the first time. Other financial metrics include a net profit of AED 6.2 billion, expenses of AED 3.7 billion, a net interest margin of 3.58%, a cost-to-income ratio of 30.9%, a non-performing loan ratio of 3.1%, and a CET-1 ratio of 14.7%.
Date: 22 April 2025 To: Mr. Hamed Ahmed Ali, Chief Executive Officer, Dubai Financial Market, P.O. Box 9700, Dubai - United Arab Emirates Subject: Disclosure of the results of Emirates NBD Bank (P.J.S.C) Board of Directors Meeting The Board of Directors of Emirates NBD Bank (P.J.S.C) held a meeting on Monday, 21st April 2025, where they discussed the following agenda items: 1. Approval of the previous Board of Directors meeting minutes held on 28 January 2025. 2. Approval of the financial results for the three-month period ended 31 March 2025. 3. Discussion of normal business activities. Best Regards, Dr. Ahmed Alkhalfawi, Group Company Secretary, Emirates NBD Bank (P.J.S.C) Cc: Securities & Commodities Authority
Emirates Islamic Bank, a public joint stock company, has released its unaudited group condensed consolidated interim financial statements for the three-month period ending March 31, 2025. The bank's head office is located on the 3rd Floor of Building 16 in Dubai Health Care City, Dubai, United Arab Emirates. For inquiries, they can be contacted via telephone at +971 600599995 or fax at +971 4 3582659. Their website is www.emiratesislamic.ae, and their mailing address is P.O. Box 6564, Dubai, United Arab Emirates.
Emirates Islamic reported a record net profit of AED 1 billion for the first quarter of 2025, marking a 24% increase compared to the same period last year. The bank's total income rose by 8% year-on-year to AED 1.45 billion, driven by increases in both funded and non-funded income. Operating profit improved by 5% year-on-year, while expenses grew by 15% as the bank continued to invest in growth. The bank's capital position remains strong, with a Tier 1 ratio of 17.8% and a capital adequacy ratio of 18.9%. Total assets increased by 11% to AED 123 billion, and customer deposits rose by 8% to AED 83 billion. The non-performing financing ratio improved to 4%, with a strong coverage ratio of 146%. The bank's net profit margin stood at 3.85%.