The conference will be held at the Taj Exotica Resort & Spa, The Palm
The Bank’s reported net profit of $255.7 million for the year (2007: $296.3 million) was impacted by increased levels of specific and precautionary provisions taken in light of the prevailing adverse operating environment.
The results include a higher level of net loan loss provisions of $96.8 million (including $41.6 million of additional collective impairment general provisions charge) to ensure adequate coverage of problematic exposures and maintenance of asset quality in a prudent manner (2007 - net loan loss provision: $24.4 million).
This resulted in incurring a loss of $24.4 million in the last quarter of the year ($70.4 million profit in Q4 2007). The Bank maintained a prudent 90 per cent specific provision coverage of its non-performing loan portfolio at
Non-performing loans to total loans stood at 1.9 per cent (as compared to 1.2 per cent in
Total assets of $23.6 billion grew by 2.6 per cent in 2008 (2007 - US$ 23.0 billion) as the bank focused on liability management particularly increasing its client deposits.
Client deposits rose by 22.2 per cent to $13.2 billion (2007: $10.8 billion) with strong deposit growth achieved from retail and non retail depositors reflecting our clients’ strong underlying confidence in the Bank.
AUB was also able to secure extended refinancing for two years of $800 million out of its existing medium term syndicated loan facility from
“While 2009 remains a very challenging year ahead, we nevertheless see opportunities on a number of fronts. One of these will be our entry into offering life insurance products and services across the region. Following the recent approval by the Central Bank of
The conference will be held at the Taj Exotica Resort & Spa, The Palm
The Muay Thai Festival showcases rich heritage, emphasising its role in promoting Thai culture in the UAE
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Dubai Police have also documented 272 violations from January to June of this year, according to the director of the Ports Police Station
For tourists and non-UAE residents, however, ticket prices were increased
The band will perform at Zayed Sports City Stadium on January 9, 11, 12, and 14th
With a blend of keynote presentations and expert panel discussions, participants will gain actionable insights from renowned global and regional finance leaders