Latest Threads on News from companies

MBME Pay, a payment services provider and part of the MBME Group, has signed an agreement with the National Bank of Fujairah (NBF), a public joint stock company listed on the Abu Dhabi Securities Exchange since 2005. The National Bank of Fujairah operates in the banking sector with a focus on diversified banks. The agreement aims to leverage MBME Pay's digital solutions and omni-channel capabilities to reach a larger customer base and enhance service levels. This partnership is considered a significant step in the development of MBME Group.

The Board of Directors of Multiply Group PJSC is scheduled to meet on Tuesday, 29 October 2024, at 5:00 PM. The agenda includes the approval of the audited financial statements for the third quarter of 2024 and the discussion of other business matters. The notification is addressed to the Disclosures and Compliance Section of the Securities and Commodities Authority and the Market Operations Surveillance Department of the Abu Dhabi Securities Exchange.

Commercial Bank International (CBI) reported a net profit before tax of AED 254 million for the period ending September 30, 2024, marking an 81% increase year-on-year. The bank's net operating income for Q3 2024 was AED 278.5 million, up 90% from Q3 2023 and 115% from Q2 2024. For the nine-month period, net operating income grew by 27% year-on-year to AED 529 million. CBI's total assets increased by 12% to AED 21 billion, driven by an 8% rise in loans and advances. The loan-to-deposit ratio improved to 85%, and the capital adequacy ratio strengthened to 15.8%. CEO Ali Sultan Rakkad Al Amri attributed the results to strategic transformation, customer-centric innovation, and a disciplined approach to risk management. CBI plans to continue investing in digital transformation and enhancing product offerings.