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Al Etihad
22-05-2025
- Business
- Al Etihad
From funding to mentorship: Khalifa Fund and Sheraa power the future of UAE SMEs
23 May 2025 00:15 SARA ALZAABI (ABU DHABI)At Make it in the Emirates 2025, national entities have come on board to show how they are contributing to the activation of small and medium-sized enterprises (SMEs), a key component of the UAE non-oil economy. The Khalifa Fund for Enterprise Development (KFED) is among those that have prioritised helping SMEs. 'The fund offers loans with flexible terms and grace periods, tailored to SMEs' needs,' said Zayed Al Khzaimi, Senior Business Counsellor at Khalifa Fund for Enterprise Development, in an interview with Aletihad . 'We also run the SME Finance Facilitator Programme, connecting entrepreneurs with banks and enabling joint credit assessments to improve access to financing. So far, we have supported over 1,200 Emiratis with more than Dh1.3 billion, driving SME sustainability across the UAE.'This support, he explained, is aligned closely with national goals, focusing on priority sectors like manufacturing, AgriTech, green energy, and healthcare.'Through partnerships with key entities, we encourage innovation, empower local talent, and accelerate prototype development.'Acknowledging financing gaps as one of the main barriers for SMEs, Al Khzaimi said the fund offers 'the SME Finance Facilitator to help businesses navigate the banking system, prove their creditworthiness, and access funding'.KFED's support goes beyond a simple investment, Al Khzaimi added. Training, mentorship, and networking opportunities all contribute to empowering SMEs. 'We also support alignment with key standards like ICV, enabling SMEs to enter broader supply chains and secure public contracts,' he said. 'Overall, we aim to transform SMEs into globally competitive players—not just local contributors; by boosting their efficiency and entrepreneurial capabilities.' Support from SheraaAnother key supporter of SMEs is Sharjah Entrepreneurship Center (Sheraa). Sara Abdelaziz Al Nuaimi, CEO of Sheraa, stressed the organisation's unwavering commitment to industrial innovation and entrepreneurship in the UAE: 'We believe that entrepreneurs are the driving force behind industrial transformation, and it is our responsibility to build a supportive environment to help them grow their businesses.' Sheraa seeks to empower entrepreneurs and connect them with real industrial opportunities that contribute to national objectives in localisation and sustainable manufacturing, Al Nuaimi told Aletihad . The centre provides SMEs exposure opportunities through platforms like Make it in the Emirates, apart from mentorship services and incubator support. 'We also help them connect with investors and gain market access, as well as scale and grow in the UAE through our ecosystem partners,' Al Nuaimi said. 'The SME sector is one of the pillars of the UAE economy. It is a key driver of national growth, and it's our role to create the right ecosystem for SMEs to thrive and contribute meaningfully to the country's future,' she said. Make it in the Emirates Continue full coverage
Al Etihad
13-05-2025
- Business
- Al Etihad
Aldar sells 'Mamsha Gardens' building to 'GAW Capital Partners' for Dh586 million
13 May 2025 14:37 ABU DHABI (WAM)Aldar Properties has completed the sale of a residential building at Mamsha Gardens to Hong Kong-based real estate private equity firm GAW Capital Partners for Dh586 GAW Capital's first investment in the UAE, the transaction underscores the growing international appeal of Abu Dhabi's property market, the Saadiyat Cultural District, and Aldar's residential within Saadiyat Cultural District, the building, one of seven within the Mamsha Gardens development, comprises 71 apartments and townhouses with a total sellable area exceeding 16,000 square interest from Asia-based investors highlights the strong demand for Abu Dhabi real estate amongst international buyers, supported by Aldar's sustained engagement with this investor base to showcase high-quality developments, attractive investment opportunities, and refined customer from China and Hong Kong accounted for Dh1.5 billion of Aldar's total UAE development sales in 2024, representing more than a 30-fold increase compared to strong momentum continued into the first quarter of 2025, with Dh1.3 billion in sales already recorded. This sharp acceleration reflects rising demand from both overseas and resident Chinese and Hong Kong buyers, and underscores Abu Dhabi's increasing appeal to a strategically important and emerging segment of international Al Omaira, Acting Director-General of Abu Dhabi Real Estate Centre (ADREC), commented, 'Abu Dhabi continues to strengthen its position as a preferred destination for international real estate investment, driven by a robust regulatory framework, economic stability, and a growing pipeline of high-quality assets. The entry of new global investors reflects the maturing landscape of the emirate's real estate sector and highlights the confidence in Abu Dhabi as a long-term, value-driven market.'Talal Al Dhiyebi, Group Chief Executive Officer at Aldar Properties, said, 'This transaction underscores the strength of Aldar's development platform and the growing appeal of Abu Dhabi's increasingly mature real estate market to global investors - in the first quarter of 2025, 87 percent of Aldar's UAE sales came from international entry of Gaw Capital Partners, a leading Asia-based investor – making its first investment in the UAE – reflects Abu Dhabi's economic growth expectations and its status as a go-to investment destination, where value continues to be driven by robust economic fundamentals, attractive demographics and high-quality assets.'Christina Gaw, Managing Principal of Global Head of Capital Markets and Co-Chair of Alternative Investments at Gaw Capital Partners, said, 'This landmark investment reflects our positive view of the dynamic Middle East market, its potential for growth and innovation, and our trust in Aldar as a leading UAE developer. We are committed to leveraging our expertise to drive value creation and sustainable development in the region.' The transaction demonstrates Aldar's continued ability to partner with an increasingly diverse range of international players and attract international capital flows across its platform.
Khaleej Times
29-04-2025
- Business
- Khaleej Times
First Abu Dhabi Bank's Q1 profit jumps 23% to Dh5.13b
First Abu Dhabi Bank (FAB), the UAE's largest bank, announced a 23 per cent increase in its first-quarter net profit, reaching Dh5.13 billion compared to the same period last year. The bank's profit before tax also climbed 22 per cent to Dh6.13 billion, driven by strong client activity and diversified income streams, according to a statement released on Tuesday. FAB's group revenue for Q1 2025 rose 11 per cent year-on-year to Dh8.81 billion, fuelled by double-digit growth across all business segments. Non-interest income, which surged 22 per cent, accounted for 43 per cent of total revenue, highlighting the bank's successful diversification strategy. Loans and deposits grew by 8 per cent and 4 per cent, respectively, while total assets increased 6.0 per cent to surpass Dh1.3 trillion for the first time. The bank's net interest margin improved by 4 basis points quarter-on-quarter to 1.97 per cent, and its cost-to-income ratio tightened to 22.3 per cent from 24 per cent in Q1 2024. The bank's return on tangible equity (RoTE) rose to 20.4 per cent, up from 17.4 per cent in Q1 2024, aligning with FAB's medium-term target of exceeding 16 per cent. Supported by an AA- credit rating, the highest in the Mena region, FAB's solid balance sheet underscores its position as a leading financial institution in the region and a key driver of the UAE's economic growth. Hana Al Rostamani, FAB 's group chief executive officer, attributed the strong performance to sustained growth across the bank's business segments and its expanding international presence. 'We continue to capitalise on the UAE's economic growth and our global footprint, expanding in investment banking, wholesale banking, personal, business, wealth, and privileged client banking,' she said. Al Rostamani added that FAB's focus on innovation and customer experience, supported by advanced technology and AI, which has bolstered its wealth and private banking franchise, with assets under management soaring 57 per cent year-on-year. Lars Kramer, FAB's group chief financial officer, noted that operating income grew 11 per cent to Dh8.81 billion, offsetting the impact of increased UAE corporate tax. 'Strong commercial momentum, resilient margins, and robust fee and trading performances contributed to these results,' Kramer said. He highlighted FAB's disciplined strategy, operational efficiencies, and prudent risk management as key factors in navigating evolving market dynamics. Investment banking FAB's investment banking and markets division delivered a standout performance, with revenue up 15 per cent year-on-year and 22 per cent quarter-on-quarter. The bank's equity and debt capital markets franchises facilitated $29 billion in client fundraising, a 56 per cent increase from Q1 2024. Wholesale banking revenue grew 12 per cent, supported by 13 per cent growth in loans and 18 per cent in deposits. The personal, business, wealth, and privileged client banking segment saw an 11 per cent revenue increase year-on-year, driven by strong retail momentum and customer acquisitions. Customer deposits rose 4 per cent year-on-year and 7 per cent year-to-date to Dh839 billion, reflecting robust inflows from both wholesale and retail clients. Current and savings account (Casa) balances grew 5 per cent year-to-date and 10 per cent year-on-year to Dh376 billion, representing 45 per cent of total deposits. FAB also raised Dh5.3 billion in senior wholesale funding, including a $600 million five-year Sukuk at a record-tight spread for a Mena bank and a $750 million five-year Formosa FRN bond at the lowest pricing ever achieved by a Mena bank in that market. The bank said its Q1 2025 results position it for sustained growth, with a focus on leveraging its strong capital base, liquidity, and diversified business model to drive long-term value for shareholders and stakeholders while remaining committed to innovation and delivering consistent returns in a dynamic global
Al Etihad
21-04-2025
- Business
- Al Etihad
ADNOC listed companies to distribute over $6.7 billion in total annual dividends
21 Apr 2025 19:07 ABU DHABI (ALETIHAD)ADNOC Group's publicly traded portfolio companies collectively endorsed over $6.7 billion (Dh24.6 billion) in annual dividend payments to shareholders for 2024, reflecting their strong financial health and commitment to shareholders the Annual General Meetings (AGM) of all six listed companies, shareholders voted overwhelmingly to approve the dividend proposals brought forth by each companies' Boards of Directors. Each of the six listed companies prioritise strong returns and value creation for shareholders, while advancing their strategies to deliver profitable DistributionAt its AGM on March 26, ADNOC Distribution shareholders approved a final cash dividend of $350 million (Dh1.3 billion) for the second half of 2024, bringing total annual dividends to $700 million (Dh2.6 billion), equal to 20.57 fils per share. Since its IPO in 2017, ADNOC Distribution has paid out $4.8 billion (Dh17.6 billion) in dividends and delivered a 92% total shareholder return as of the end of company is planning capital expenditures of $250-300 million (Dh917.5 million-1.1 billion) in 2025 while maintaining its dividend policy to distribute to shareholders at least $700 million (Dh2.6 billion) or 75% of net profit, whichever is GasADNOC Gas shareholders approved the companies' proposal to distribute $1.7 billion (Dh 6.2 billion) for the second half of the year, raising the 2024 annual dividend to $3.41 billion (Dh12.5 billion), the largest distribution by any issuer on the Abu Dhabi Securities Exchange (ADX).The dividend payout and the company's strong 2024 results, which include record adjusted net income of $5 billion (Dh18.35 billion), propelled it to deliver 19% total shareholder returns for the year. ADNOC Gas is also positioned for potential inclusion in the MSCI and FTSE indices later this year, following the company's landmark secondary share offering of 3.1 billion shares—the largest of its kind in ADX history and the UAE's largest secondary DrillingShareholders of ADNOC Drilling approved the proposed 2024 annual dividend distribution of $788 million (Dh2.9 billion) at its AGM, including a $394 million (Dh1.4 billion) dividend for the second half of the year. This represents a 10% increase compared to the previous year, driven by the company's solid financial 2025, the company aims to enhance operational capacity, targeting revenue between $4.6-$4.8 billion (Dh16.9-17.6 billion). The company plans to expand its fleet to over 148 rigs by 2026 and integrate AI-enabled technologies to boost efficiency. By 2028, the company expects to provide a dividend payment of at least $1.15 billion in line with its progressive dividend policy to increase dividends by 10% Logistics & ServicesADNOC L&S shareholders approved a final 2024 dividend payment of $136.5 million (Dh 501 million), bringing total dividend payments for the year to $273 million and reflecting a 5% year-on-year increase as aligned with its progressive dividend policy. Between its 2023 IPO and the end of 2024, ADNOC L&S delivered more than 178% in total shareholder returns (including share price appreciation and dividends paid), significantly outperforming the ADX and reinforcing investor trust in its long-term ahead, the company is continuing to expand its service offerings both locally and internationally, growing its energy-efficient fleet and accelerating organic and inorganic growth. In 2024, the company secured 21 environmentally efficient vessels, achieving an 11% reduction in carbon intensity compared to the previous year. With AI-driven solutions and next-generation vessels, ADNOC L&S aims to enhance operational efficiency, reduce emissions, and support the UAE's economic its in-person AGM on April 7, Borouge shareholders approved a final 2024 dividend of $650 million (Dh2.4 billion), bringing the total annual payout to $1.3 billion (Dh4.77 billion), equivalent to 15.88 fils per share. Additionally, shareholders authorised a share buyback program of up to 2.5% of outstanding shares, reflecting the company's strong confidence in its future prospects and the significant upside potential beyond the current share the AGM, Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and Managing Director and Group CEO of ADNOC, and Borouge Chairman, spoke about the proposed creation of Borouge Group International that will bring together Borouge and Borealis and acquire Nova Chemicals. The new company has been designed to deliver consistently strong dividends and significant near-term growth, with a production capacity of 13.6 million tonnes – nearly tripling Borouge's current also announced it will increase its 2025 dividend to at least 16.2 fils per share, and following completion of the Borouge Group International transaction, the new entity intends to distribute an estimated total annual dividend of $2.2 billion (Dh8.1 billion), equivalent to a minimum of 16.2 fils per share from 2026 to shareholders approved the proposed payout of a $125 million (Dh459 million) dividend for the second half of 2024, bringing total 2024 dividends to $275 million (Dh1.01 billion), equal to 12.2 fils per share. Since its 2021 IPO, the company has distributed $2.5 billion (Dh9.2 billion) to shareholders, delivering one of the highest total shareholder returns on the ADX over that time. During its AGM, shareholders also approved the repurchase of up to 2.5% of its issued shares via a share buyback, reflecting Fertiglobe's confidence in its long-term growth strategy and commitment to delivering sustainable value to shareholders. Fertiglobe has successfully realised its cost optimisation target of $50 million in run-rate savings and completed 75% of its Manufacturing Improvement Plan, which is projected to generate an additional $100 million in annual EBITDA by the end of 2025. The company will present an update on its strategy and value enhancement initiatives at its Capital Markets Day with Q1 2025 results on May 13, 2025 in Abu Dhabi.
Al Etihad
21-04-2025
- Business
- Al Etihad
RAKBANK delivers Dh704 million net profit in Q1 2025
21 Apr 2025 19:04 ABU DHABI (AlETIHAD)The National Bank of Ras Al Khaimah (RAKBANK) reported a profit after tax of Dh704 million for the first quarter of 2025, marking a 22.7% increase over the Dh574 million recorded in Q1 to the bank's latest financial disclosures to the Abu Dhabi Securities Exchange (ADX), this performance was driven by a 10.7% year-on-year increase in total income, which reached Dh1.3 billion. The growth was attributed to continued momentum in the bank's balance sheet and a strong rise in non-interest in 1976, RAKBANK is a market leader in providing a wide range of banking services across the UAE. It is a public joint stock company headquartered in the emirate of Ras Al Khaimah. It is majority-owned by the government of Ras Al Khaimah. The bank was listed on the ADX in 2025 and its net capitalisation stood at Dh12.772 billion, according to latest ADX data. Net interest income for the quarter rose by 1.4% year-on-year (YoY) to Dh867 million, while non-interest income recorded a significant 47% increase, reaching Dh433 total assets stood at Dh90.8 billion as of March 31, 2025, reflecting a 15.5% growth compared to the same period last year. The bank's gross loans and advances portfolio grew by 16.7%, reaching Dh50.4 deposits also saw healthy growth, increasing by 10.2% year-on-year to Dh61.0 expenses for the quarter were Dh434 million, reflecting an 11.8% rise compared to Q1 2024. The increase was mainly due to ongoing investments in technology, data, people, and customer experience. Despite this, the bank maintained operational efficiency with a cost-to-income ratio of 33.4%.On the asset quality front, the non-performing loans (NPL) ratio improved to 2.1%, down from 2.6% in Q1 2024, underscoring the bank's prudent credit risk management and recovery also remained well-capitalised, reporting a capital adequacy ratio of 18.6%, up from 17.2% in the same period last Ahmed, Group CEO of RAKBANK, commented: 'We've kicked off 2025 with a record-breaking performance, marking the strongest quarter in RAKBANK's history – a profit before tax of Dh772 million. We also crossed Dh90 billion in total assets for the first time in our history – a major milestone that reflects our strong momentum, the quality of our products and services, and the deep trust our customers continue to place in us.'
