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Deutsche Bank plans to cut nearly 2,000 retail banking jobs in 2025 and significantly downsize its branch network as part of its strategy to meet ambitious financial targets. CEO Christian Sewing confirmed that the restructuring costs have been accounted for, following a notable decline in profits. The cuts will impact both Deutsche Bank and Postbank brands, with further branch closures anticipated after 125 were shut last year.
IHC has divested a $210 million stake in Adani Enterprises, while Trump has announced an upcoming visit to Saudi Arabia. Additionally, ADQ has acquired a 58% stake in Aramex, Binance has secured a $2 billion investment from MGX, and FAB has approved a record dividend of Dh8.3 billion.
IHC has divested a $210 million stake in Adani Enterprises, while Trump has announced an upcoming visit to Saudi Arabia. Additionally, ADQ has acquired a 58% stake in Aramex, Binance secured a $2 billion investment from MGX, and FAB has approved a record dividend of Dh8.3 billion.
First Abu Dhabi Bank (FAB) has announced a record cash dividend of Dh8.3 billion (75 fils per share) for the financial year ending December 31, 2024, following approval at the Annual General Meeting on March 11. This payout, representing approximately 49% of the bank's net profit of Dh17.1 billion, reflects a 13% year-on-year increase in profit before tax to AED 19.9 billion, driven by heightened client activity and diversified income streams. Shareholders registered by March 21, 2025, will be eligible for the dividend.
First Abu Dhabi Bank (FAB) has announced a record cash dividend of Dh8.3 billion (75 fils per share) for the financial year ending December 31, 2024, following approval at the Annual General Meeting on March 11. This payout, representing approximately 49% of the bank's net profit of Dh17.1 billion, is the largest in its history. Shareholders registered by March 21, 2025, will be eligible for the dividend, as FAB reported a 13% year-on-year increase in profit before tax to AED 19.9 billion, driven by increased client activity and diversified income streams.
GCC equity markets are projected to yield returns of 12-13% in 2025, driven by an 11.1% earnings growth and stable financial conditions, according to First Abu Dhabi Bank. The positive outlook is supported by strong corporate earnings, particularly in petrochemicals, and a favorable dividend environment. Dubai is favored for investment, having achieved a 30.57% year-to-date return as of December 16, 2024, while Abu Dhabi experienced a slight decline.
Deutsche Bank's CEO Christian Sewing has indicated potential exits from certain business segments following a significant profit decline in Q4 2024, with net profit dropping to €337m from €1.4bn a year prior. The bank's full-year profit fell by 28% to €3.5bn, overshadowed by legal provisions and restructuring costs, despite plans for a €750m share buyback. Sewing emphasized that 2025 will be crucial for the bank's transformation and growth strategy, with a review of its 2026 plans underway.
Adani Green has initiated the issuance of dollar-denominated bonds aimed at repaying overseas loans. The Adani Group has enlisted a consortium of banks, including DBS Bank, Emirates NBD Bank, and others, to serve as joint bookrunners for this financial endeavor.
Africa Finance Corp. plans to issue its first Islamic bond in nearly a decade, targeting a $300 million facility to support infrastructure projects across the continent. The initiative comes amid rising interest from Gulf nations, with First Abu Dhabi Bank serving as the global coordinator alongside other lenders like Emirates NBD Capital and SMBC.
First ABU Dhabi Bank PJSC
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