DOCSLIB.ORG

Investor Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Investor Presentation Dr Bernd van Linder Investor Presentation Highlights Full Year 2019 Chief Executive Officer February 2020 Mr Darren Clarke Chief Financial Officer 0 Commercial Bank of Dubai 2019 Overview Net Profit Gross Lending Employees AED 1,400m 3.7% 20% from FY 18 UAE Loan Market Share ~1500 Corporate Social Responsibility Credit Rating 15 Branches Sponsored Jebel Ali horse race for season A- (Fitch) 150 2018/2019 Baa1 (Moody’s) ATM/CDM Marked CBD’s 50th Anniversary Best Call Centre, Best Cash Best UAE Payments Bank, Best Mobile Banking App Management, Best Digital Best ERP Integration - Global Finance - Best Awards Transformation Services - Asian Banker Middle East Digital Bank Awards 2019 - Banker ME Product Awards Transactions Awards 2019 1 Earnings Snapshot – a stand out record result for the bank (AED m) Change Change (%) FY 19 FY 19 - FY 18 FY 19 - FY 18 Net profit 1,400.2 238.1 20.5% Return on equity (RoE) 14.61% 114 bp 8.5% Return on assets (RoA) 1.75% 18 bp 11.7% Interest margin 2.46% (23) bp (8.4%) Cost to income ratio 29.18% (232) bp (7.4%) Impairment charge to gross loans 1.16% (10) bp (8.2%) Capital adequacy ratio 14.01% (55) bp (3.8%) 2 Financial Performance Snapshot – FY 2019 Revenues Net Profit Return on Equity Shareholder Value Creation AED 3,033m AED 1,400m 14.61% 11% from FY 18 20% from FY 18 114 bps from FY 18 Assets Customer Deposits Gross Loans Focus on Growth AED 88.1bn AED 63.3bn AED 64.0bn 19% from FY 18 19% from FY 18 18% from FY 18 Capital Adequacy Ratio Non-performing Loans Return on Assets Strong Balance Sheet 14.01% 5.94% 1.75% 55 bps from FY 18 24 bps from FY 18 18 bps from FY 18 Non Funded Income/ Operating Profit Cost to Income Ratio Improved Operating Operating Expenses Performance 2,148m 29.18% 15% from FY 18 232 bps from FY 18 120.61% 2,584 bps from FY 18 3 Performance Achievements 2019 . Record sustainable full year profit . Loan growth well above system with improved market share . Deepened and broadened customer relationships with sharply higher non funded income . Excellent progress on the journey towards “Default Digital”, e.g. through Direct From Customer . Continuing prudent non performing loan provisioning . Solid balance sheet with all applicable ratios above regulatory limits 4 Strategic Execution in 2019 o Net profit up 20%, Operating profit up 15%, Revenues up 11% Achieve o Return on equity up 1.1%, Cost to Income down 2.3% to 29.2% Financial Results o Strong loan growth, positioning well for 2020 o Recruiting, developing and retaining UAE national talent Become Employer o Embedding high performance culture of Choice o Sharply improved engagement score across the bank o Direct From Customer, CBD One for retail clients Customer o SCDMs, cardless ATM withdrawals for our corporate clients Focus o Deeper and broader customer relations as visible in NFI o Bank wide employee innovation challenge, yielding 100s of ideas Default o Implementation of AI-based transaction monitoring system Digital o Machine learning based Chatbot 5 Core Performance Trends – year of outstanding performance for CBD (AED m) Revenue Net profit OOI NII +7% 3,033 +7% 1,400 2,725 2,642 1,162 2,462 1,068 2,352 +11% 1,066 822 813 (35%) 1,003 1,002 +20% 737 712 (31%) (30%) (30%) (30%) 1,911 1,966 1,640 1,725 1,821 (70%) (65%) (70%) (70%) (69%) 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 Assets Net loans 88,069 +11% 60,181 +11% 74,102 70,414 50,945 64,080 +19% 47,276 57,864 41,963 +18% 39,021 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 6 Profitability and Returns – all key metrics exceeded strategic plans (AED m) Expenses Revenue and expense JAWS Revenue +3% Expenses 901 3,033 859 871 858 885 2,642 2,725 2,352 2,462 +8.2% (8.8%) +3.8% +7.8% +3.3% 859 871 901 858 885 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 RWA and Return on Equity Other Operating Income Credit Risk Operational Risk Market Risk Return on Equity Fees and Commission FX and Investment Others 1,068 +10% 72,799 +11% 63,603 60,728 822 813 55,187 14.6% 737 13.5% 712 +31% 12.4% 701 11.7% 67,087 565 578 55,412 58,284 498 495 50,669 259 178 204 211 165 4,409 4,660 4,893 5,242 70 107 109 656 426 470 36 38 46 2016 2017 2018 2019 2015 2016 2017 2018 2019 7 Strategic Financial KPI’s – broad based business improvements Return on Equity (ROE) Cost to Income Ratio +12% 14.6% -10% 34.1% 13.5% 31.5% 11.7% +8% 29.2% -7% 2017 2018 2019 2017 2018 2019 Return on Assets (ROA) Other Operating Income as % of Expenses +15% 120.6% 1.8% +20% 1.6% 1.4% +27% +12% 94.8% 91.2% 2017 2018 2019 2017 2018 2019 8 Net Profit Bridge on Prior Year – a substantial uplift in other operating income (AED m) Foreign exchange and fee NII increased by 54m due to Gain from investments Other income was higher by Net credit impairment income increased by 25% or an increase in average loans increased by 40m in 2019 37m mostly from the gains increased by 58m as a 177m in 2019 across and interest earning assets mainly sale of fixed income on sales of buildings. result of provision increase. investment advisory sales, partially offset by a drop in securities. FX and derivatives, loans net interest margins. and advances, and trade finance activities. Net profit for the period +20.5% increased by 238m (20.5%) 1,400 compared to FY 2018 15 (7) (20) 40 37 (58) Increase in net profit is 1,162 54 attributable to: 177 • increase in foreign exchange and fee income; • increase in net interest income, other income, gain from Investments FY 18 Foreign Net Gain Other Other Other Staff Net FY 19 Exchange Interest from Income Impairment Operating Expenses Credit and Fee Income Investments Charge Expenses Impairment Income (NII) 9 Asset Quality and Impairments – prudent provisioning increased the coverage ratio (AED m) Cost of Risk Impairment ChargesCost of Risk and Recoveries Impairment charges Recoveries Coverage (%) 102% 92% 78% 83% 1.37% 78% 1.26% 1.26% 1.16% 1.00% 852 789 704 752 514 87 115 112 48 42 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 NPL Ratio Expected Credit Provisions – Segment NPL NPL ratio (%) Provisions to gross loans (%) NPL Provisions Coverage (%) 4,302 3,759 2,402 8.67% 3,307 3,101 104.3% 2,895 92.1% 1,794 6.90% 6.87% 6.18% 6.03% 6.99% 6.42% 6.57% 1,065 74.7% 5.76% 5.94% 980 293 306 2015 2016 2017 * 2018 2019 Personal Banking Commercial Corporate * IFRS 9 transition. 10 Balance Sheet and Capital Strength – strong balance sheet Capital Adequacy Ratio (CAR) Common CostEquity of Risk Tier 1 (CET1) CAR Regulatory limit (Minimum) CET1 Regulatory limit (Minimum) -1% -74 bp -74 bp 13.85% 13.81% 13.59% 13.39% 13.41% 12.85% 15.00% 14.96% 14.51% 14.56% 14.75% 14.01% 9.50% 9.50% 9.50% 9.50% 8.88% 13.00% 13.00% 13.00% 13.00% 8.25% 11.75% 12.38% 2017* 2018 Mar 19 Jun 19 Sep 19 Dec 19 2017 2018 Mar 19 Jun 19 Sep 19 Dec 19 * 2017 retained earnings have been updated by 397m for IFRS9 opening adjustment to be 2.6b instead of 3.0b Eligible Liquid Assets Ratio (ELAR) Loans to Deposits and ASRR ELAR Regulatory limit (Minimum) Loans to Deposits ASRR Regulatory limit (Maximum) +8.3% -1.0% +269 bp 100.0% 17.88% 16.23% 15.69% 15.19% 14.38% 14.20% 97.7% 95.8% 99.2% 95.4% 10.00% 88.6% 89.4% 94.9% 87.8% 90.0% 87.5% 95.0% 88.0% 2017 2018 Mar 19 Jun 19 Sep 19 Dec 19 2017 2018 Mar 19 Jun 19 Sep 19 Dec 19 11 Funding and Liquidity – diversified and stable funding supporting franchise loan growth (AED m) Customer Deposits Other Funding Sources TD CASA Acceptances and Others Due to Banks > 1year Equity +9% 63,334 Due to Banks < 1year Notes and Medium Term Borrowing 59,066 55,264 53,165 54,614 4% 24,735 48,411 23,167 23,473 22,003 20,937 21,549 38,366 7,120 35,521 6,791 31,184 32,846 6,053 6,573 32,484 6,345 6,992 29,226 927 1,657 780 873 1,882 2,509 1,480 2,600 2,608 6,090 1,283 2,016 3,230 3,231 2,610 2,610 2,611 23,430 22,418 23,545 24,968 19,185 20,681 9,081 9,219 9,058 9,501 9,917 10,217 2017 2018 Mar 19 Jun 19 Sep 19 Dec 19 2017 2018 Mar 19 Jun 19 Sep 19 Dec 19 Loans to Deposits Deposit Segmentation Net Loans Customer Deposits Net Loans to Deposit Ratio % Government Individual Corporate +9% 63,334 99.2 97.7 95.8 59,066 94.8 95.4 95.0 54,614 55,264 53,165 15,182 48,411 14,644 12,771 13,744 13,069 11,852 15,365 14,096 14,548 63,334 14,347 60,181 13,866 59,066 11,649 56,373 55,264 54,841 54,614 53,165 51,801 50,945 48,411 47,276 29,874 32,788 24,910 25,556 27,198 28,397 2017 2018 Mar 19 Jun 19 Sep 19 Dec 19 2017 2018 Mar 19 Jun 19 Sep 19 Dec 19 12 Balance Sheet Analysis – strong business growth and diversified investment portfolio (AED m) Assets Mix Assets and Loans Net Loans and Advances Total Assets 6% 2% 14% +8% 6% 3% Cash and balances with CB Due from banks AED 88 billion Net loans and advances Total Assets Investment securities 88,068 82,539 78,431 Acceptances 76,163 74,102 70,414 Other Assets 60,181 56,373 54,841 51,801 50,945 47,276 68% 2017 2018 Mar 19 Jun 19 Sep 19 Dec 19 Gross Loans and Advances by Sector Investment Securities Portfolio Sector Dec 19 Sep 19 Var % By Type By Geography Manufacturing 2,432 1,956 24.3 5% Others 1,331 1,200 11.0 11% 24% Real estate 22,695 20,610 10.1 Personal - schematic 4,691 4,309 8.9 76% Financial and insurance activities 8,185 7,581 8.0 AED 5.6 billion 46% Invested Investment in the UAE Personal - mortgage 3,308 3,068 7.8 Portfolio and GCC 58% Hospitality 2,574 2,485 3.6 37% 18% Services 5,715 5,538 3.2 Individual loans for business 1,760 1,714 2.7 Trade 5,741 5,660 1.4 Construction 4,383 4,321 1.4 Fixed rate gov’t securities Domestic Government entities 274 273 0.3 Other fixed rate securities GCC Transportation and storage 951 1,215 (21.7) Floating rate non-gov’t
Load more

Recommended publications
  • Message from the CEO
    Message from the CEO Dear Colleagues, I hope that most of you have been able to spend some well-deserved time off with your families during the summer months and are ready to support the bank’s continuing growth for the remainder of the year. As expected, the first six months of 2013 have indeed shown solid growth in our loan portfolio across all clients segments, with consumer loans growing at more than 10% and corporate and commercial lending up 7% compared to the end of 2012. It is fair to say that a combination of our focused sales activities and the improved UAE economy have helped us to achieve this positive result. For the rest of 2013, we anticipate further growth of both loan and deposit volumes as well as interest and fee incomes. However, in view of the increasing competition, we need to ensure that we continue to provide top class service, so that we can continue to cross sell our products and become the “Main Banker” for most of our clients. The deliberate efforts to provide our clients with a range of products have been quite successful so far, as the cross-sell ratios especially for Al Dana and other consumer clients have increased significantly. Of course, the increased sales volumes that we have witnessed required the support of departments to improve their productivity and efficiency which, by and large, is happening. The turn-around times are gradually improving for most processes, which is Editorial a key factor in keeping our clients satisfied. Going forward, we will have to continue to Team meet and exceed our clients’ expectations.
    [Show full text]
  • Message from the CEO
    Message from the CEO Dear Colleagues, I hope that the summer and the holy month of Ramadan has been a fruitful one for everyone. I would like to welcome back those who come been back from their vacation, and to those who will be going on their vacation for the remainder of the summer, we have some tips in the newsletter for you. The remarkable outcome of the first half reflects the strength and capability of the Bank to continue a steady growth. This is the result of your teamwork and diligent execution of the business strategy given to the Bank’s management by our Board of Directors. Your dedication towards that vision has helped us grow and expand while increasing the trust and satisfaction level of our banking clients, and for this we thank you. As you know, Commercial Bank of Dubai has recently published its first half year financials, with the Bank’s net profit for the second quarter is AED581 million, which showed an increase of 17 percent compared to the same period last year. In addition to the milestone represented by the highest first half yearly profit ever, the Bank has garnered other achievements. Winning the Dubai Human Development Award 2013 is one of the milestone in the successful journey of CBD. Such an honor indicates that we are on the right track in becoming the employer of choice. I am happy to share that we are also setting new benchmarks in cyberspace. After launching CBD’s new online banking website and virtual assistant Sara, we have answered over 56,000 questions and have had more than 22,000 interactions with EDITORIAL TEAM CBD customers.
    [Show full text]
  • Commercial Bank of Dubai Responsibility Through Various Initiatives of Major Transition Witnessed by the Results Despite One of the Most Severe and Future
    banking circles and earned net worth customers and CBD understands that its success as a financial it a distinguished rating from provide them with a variety institution is driven by the success of its society. the world’s leading financial of innovative investment Its objective as an organisation goes beyond rating agencies – Moody’s, funds to manage their wealth financial performance; it also measures its success Capital Intelligence and Fitch. and achieve their financial by its efforts to make a difference in The strong ratings reflect the goals. the community. Bank’s financial strength, good CBD’s ‘Attijari Al Islami’ As a responsible corporate citizen Commercial asset quality, growth and a centres are distinguished by Bank of Dubai gives back to society and the well focused and effective their modern design and community, supporting humanitarian work and business strategy. are managed by a team of rendering continuous service to the society of the The growth of all balance professionals in this field who UAE. The Bank has always been actively involved sheet items of Commercial have tremendous experience in community relations and sponsoring social, Bank of Dubai, coupled with in understanding client needs educational, cultural and sports events directed at prudent lending and banking and in providing them with the welfare and development of the country. Strong financial performance, Banker Middle East, and EMEA Finance’s ‘Best policies, has resulted in a innovative Sharia-compliant The Bank was one of the major supporters continuous growth, diversified Local Bank in the UAE 2010’, which represents financial institution built on financial solutions.
    [Show full text]
  • Investor Presentation FULL YEAR January 2019 RESULTS Dr Bernd Van Linder 2018 Chief Executive Officer Mr Darren Clarke Chief Financial Officer
    Commercial Bank of Dubai Investor Presentation FULL YEAR January 2019 RESULTS Dr Bernd van Linder 2018 Chief Executive Officer Mr Darren Clarke Chief Financial Officer Slide 0 Slide 0 Disclaimer In accessing the information in this document, you agree to be bound by the following terms and conditions. The information is provided to you solely for your information and may not be retransmitted, further distributed to any other person or published, in whole or in part, by any medium or in any form for any purpose. The opinions presented herein are based on general information gathered at the time of writing and are subject to change without notice. The Bank relies on information obtained from sources believed to be reliable but does not guarantee its accuracy or completeness. The financial information contained within this presentation is, unless otherwise specified, taken from the Bank’s annual audited consolidated financial statements. This document contains data compilations, writings and information that are proprietary and protected by copyright and other intellectual property laws, and may not be redistributed or otherwise transmitted by you to any other person for any purpose. This document does not constitute an offer, agreement, or a solicitation of an offer or an agreement, to enter into any transaction (including for the provision of any services). No assurance is given that any such transaction can or will be arranged or agreed. Before entering into any transaction, you should consider the suitability of the transaction to your particular circumstances and independently review (with your professional advisers as necessary) the specific financial risks as well as the legal, regulatory, credit, tax and accounting consequences.
    [Show full text]
  • INVESTOR PRESENTATION April 2016
    COMMERCIAL BANK OF DUBAI INVESTOR PRESENTATION April 2016 Slide 1 Disclaimer The following applies to this document and the oral presentation of the information in this document by Commercial Bank of Dubai PSC (CBD) and any question-and-answer session that follows the oral presentation (collectively, the Information). In accessing the Information, you agree to be bound by the following terms and conditions. This document is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation, nor does it constitute an offer of securities in, the United States, the United Kingdom, Canada, Australia, Japan or any other jurisdiction. In particular this document and the information contained herein do not constitute an offer of securities for sale, nor a solicitation of an offer to buy securities in the United States and this document may not be disseminated, directly or indirectly, into the United States, its territories or possessions, except outside the United States to persons that are not U.S. persons (as defined in Regulation S under the Securities Act) in offshore transactions in compliance with Regulation S. Any failure to comply with this restriction may constitute a violation of United States securities law. Accordingly, each person viewing this document will be deemed to have represented that it is not a U.S. person within the meaning of Regulation S of the Securities Act. The Information is strictly private and confidential and is being provided to you solely for your information and may not be retransmitted, further distributed to any other person or published, in whole or in part, by any medium or in any form for any purpose.
    [Show full text]
  • Banking Buzz Banking Buzz Is a Quarterly Publication That Provides an Overview of Significant Developments Shaping the Banking Industry in the UAE
    Industry pulse While CBUAE enhances operations and payment transparency, banks are engaging in SME-specific and cross-industry solutions, securing payments and expanding investment Banking portfolios. Buzz UAE Market performance The banking industry in the Volume: 6 UAE witnessed an increase in net profit, with a marginal increase in total assets and customer deposits in Q1 2021, as compared to YE 2020. KPMG insight The impact of Covid-19 on operational resilience, cost- effectiveness and the acceleration of digital value among banks, coupled with the views of industry leaders on business growth and transformation priorities. About Banking Buzz Banking Buzz is a quarterly publication that provides an overview of significant developments shaping the banking industry in the UAE. It is a compilation of performance metrics and key trends in the sector. Banking Buzz UAE Encapsulating market movements, business trends and expert insight Volume 6 Industryvoce Developing SME dedicated solutions and services Supporting the SME sector is a top priority for Emirates Islamic and we will continue to…provide innovative solutions to support the growing business needs of SMEs. Following our recently launched Digital Banking Package, the opening of the Sheikh Zayed and Al Twar centers will further enhance our ability to strengthen our relationship with our SME clients in the country. - Ghazanfar Naqvi, Head of Business Banking by Emirates Islamic (1) Partnering to offer cross-industry solutions ..We are pleased to provide our customers, in collaboration with MetLife, easy access to best- in-class insurance products and solutions that are integral to their long-term financial planning…We remain committed to helping our customers meet their protection and savings needs in the best way.
    [Show full text]
  • List of Investment Banks in United Arab Emirates
    List Of Investment Banks In United Arab Emirates Abu Dhabi Commercial Bank Abu Dhabi Islamic Bank Arab Emirates Investment Bank Bank of Sharjah Citibank UAE Commercial Bank International Commercial Bank of Dubai Dubai Bank is now Emirates Islamic Bank Dubai Islamic Bank Emirates Bank International now EmiratesNBD Emirates Islamic Bank Finance House First Gulf Bank HSBC Bank Middle East Limited Invest Bank Mashreqbank National Bank of Abu Dhabi National Bank of Dubai now EmiratesNBD National Bank of Fujairah National Bank of Umm Al-Qaiwain Noor Islamic Bank now Noor Bank RAKBANK Union National Bank United Arab Bank Abu Dhabi Investment House ADCB Macquarie Corporate Finance AJM Capital Partners Limited Akbank Al Fajer Investment and Development Al Mal Capital Al-Arabi Capital Limited Allied Investment Partners Alpen Capital Limited Apache Management Consultancies Arabian Capital Investment & Finance Company Limited Arab Banking Corporation (B.S.C) Arqaam Capital Limited ATA Invest Limited Attijariwafa Bank Limited Baer Capital Partners International Limited BDO Corporate Finance Limited CAPM Investment Carlyle Mena Investment Advisors Limited Chescor Capital Citigroup Global Markets Limited Clarkson Investment Services Limited Commerzbank Credit Suisse AG Daman Investments Delta Partners Deutsche Bank DIB Capital Limited EFG-Hermes UAE Limited Emirates Investment Bank Emirates NBD Capital Limited FFA Limited FH Capital Limited Full Circle Investments Genero Capital Goldman Sachs International Gulf Merchant Bank Limited GulfCap Group HC
    [Show full text]
  • Commercial Bank of Dubai Psc Cbd (Cayman)
    Base Prospectus dated 17 June 2015 COMMERCIAL BANK OF DUBAI P.S.C. (incorporated with limited liability in the Emirate of Dubai, United Arab Emirates) and CBD (CAYMAN) LIMITED (an exempted company incorporated with limited liability in the Cayman Islands) and in the case of Notes issued by CBD (Cayman) Limited unconditionally and irrevocably guaranteed by COMMERCIAL BANK OF DUBAI P.S.C. (incorporated with limited liability in the Emirate of Dubai, United Arab Emirates) U.S.$2,000,000,000 Euro Medium Term Note Programme Under this U.S.$2,000,000,000 Euro Medium Term Note Programme (the “Programme”), CBD (Cayman) Limited (the “Cayman Issuer”) and Commercial Bank of Dubai P.S.C. (“CBD”, and together with the Cayman Issuer, each an “Issuer” and together the “Issuers”) may from time to time issue notes (the “Notes”) denominated in any currency agreed between the relevant Issuer and the relevant Dealer (as defined below). The obligations of the Cayman Issuer in respect of Notes issued by it are unconditionally and irrevocably guaranteed by CBD (in such capacity, the “Guarantor”). References in this Base Prospectus to the “Obligors” are to the Cayman Issuer and CBD, and references to the “relevant Obligors” shall be a reference to, in the case of an issue of Notes by CBD, CBD, and in the case of an issue of Notes by the Cayman Issuer, to each of the Cayman Issuer and the Guarantor and “relevant Obligor” shall be a reference to either of them, as the context may require. Notes may be issued in bearer or registered form (respectively, “Bearer Notes and Registered Notes”).
    [Show full text]
  • COMMERCIAL BANK of DUBAI P.S.C. U.S.$600,000,000 Perpetual
    COMMERCIAL BANK OF DUBAI P.S.C. (incorporated with limited liability in the Emirate of Dubai, United Arab Emirates) U.S.$600,000,000 Perpetual Additional Tier 1 Capital Securities The U.S.$600,000,000 Perpetual Additional Tier 1 Capital Securities (the "Capital Securities") shall be issued by Commercial Bank of Dubai P.S.C. (the "Issuer" or "CBD") on 21 October 2020 (the "Issue Date"). Interest Payment Amounts (as defined in the Conditions) shall be payable subject to and in accordance with terms and conditions set out in the "Terms and Conditions of the Capital Securities" (the "Conditions") on the Prevailing Principal Amount (as defined in the Conditions) of the Capital Securities from (and including) the Issue Date to (but excluding) 21 October 2026 (the "First Reset Date") at a rate of 6.000 per cent. per annum. If the Capital Securities are not redeemed in accordance with the Conditions on or prior to the First Reset Date, Interest Payment Amounts shall continue to be payable from (and including) the First Reset Date subject to and in accordance with the Conditions at a fixed rate, to be reset on the First Reset Date and every six years thereafter, equal to the Relevant Six-Year Reset Rate (as defined in the Conditions) plus a margin of 5.597 per cent. per annum. Interest Payment Amounts will (subject to the occurrence of a Non-Payment Event (as defined in, and as more particularly provided in, Condition 6.1 (Interest Cancellation – Non-Payment Event))) be payable semi-annually in arrear on 21 April and 21 October in each year, commencing on 21 April 2021 (each, an "Interest Payment Date").
    [Show full text]
  • Participant List
    Participant List 10/20/2020 12:59:08 PM Category First Name Last Name Position Organization Nationality CSO Jamal Aazizi Chargé de la logistique Association Tazghart Morocco Luz Abayan Program Officer Child Rights Coalition Asia Philippines Babak Abbaszadeh President And Chief Toronto Centre For Global Canada Executive Officer Leadership In Financial Supervision Amr Abdallah Director, Gulf Programs Education for Employment - United States EFE Ziad Abdel Samad Executive Director Arab NGO Network for Lebanon Development TAZI Abdelilah Président Associaion Talassemtane pour Morocco l'environnement et le développement ATED Abla Abdellatif Executive Director and The Egyptian Center for Egypt Director of Research Economic Studies Nabil Abdo MENA Senior Policy Oxfam International Lebanon Advisor Baako Abdul-Fatawu Executive Director Centre for Capacity Ghana Improvement for the Wellbeing of the Vulnerable (CIWED) Maryati Abdullah Director/National Publish What You Pay Indonesia Coordinator Indonesia Dr. Abel Executive Director Reach The Youth Uganda Switzerland Mwebembezi (RTY) Suchith Abeyewickre Ethics Education Arigatou International Sri Lanka me Programme Coordinator Diam Abou Diab Fellow Arab NGO Network for Lebanon Development Hayk Abrahamyan Community Organizer for International Accountability Armenia South Caucasus and Project Central Asia Aliyu Abubakar Secretary General Kano State Peace and Conflict Nigeria Resolution Association Sunil Acharya Regional Advisor, Climate Practical Action Nepal and Resilience Salim Adam Public Health
    [Show full text]
  • 10848-9781451982497.Pdf
    WP/10/87 The GCC Banking Sector: Topography and Analysis Abdullah Al-Hassan, May Khamis, and Nada Oulidi © 2010 International Monetary Fund WP/10/87 IMF Working Paper Monetary and Capital Markets and Middle East and Central Asia Departments The GCC Banking Sector: Topography and Analysis Prepared by Abdullah Al-Hassan, May Khamis, and Nada Oulidi Authorized for distribution by Daniel Hardy and Abdelhak Senhadji April 2010 Abstract This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate. In this paper, we analyze the evolution of the Gulf Cooperation Council (GCC) banking sectors in the six member countries including ownership, concentration, cross-border linkages, balance sheet exposures and risks, recent trends in credit growth, and financial soundness. We identify risks to the banking sector's financial stability in the context of the current global crisis and their mitigating factors. JEL Classification Numbers: G20; G21 Keywords: Gulf Cooperation Council; banking sector; credit growth; financial statements Authors’ E-Mail Addresses: [email protected]; [email protected]; [email protected] 2 Contents Page I. Introduction ............................................................................................................................4 II. Structure of the
    [Show full text]
  • Base Prospectus Dated 11 October 2018 Commercial Bank of Dubai
    Base Prospectus dated 11 October 2018 Commercial Bank of Dubai P.S.C. (incorporated with limited liability in the Emirate of Dubai, United Arab Emirates) and CBD (Cayman) Limited (an exempted company incorporated with limited liability in the Cayman Islands) and in the case of Notes issued by CBD (Cayman) Limited unconditionally and irrevocably guaranteed by Commercial Bank of Dubai P.S.C. (incorporated with limited liability in the Emirate of Dubai, United Arab Emirates) U.S.$3,000,000,000 Euro Medium Term Note Programme Under this U.S.$3,000,000,000 Euro Medium Term Note Programme (the “Programme”), CBD (Cayman) Limited (the “Cayman Issuer”) and Commercial Bank of Dubai P.S.C. (“CBD” or the “Bank”, and together with the Cayman Issuer, each an “Issuer” and together the “Issuers”) may from time to time issue notes (the “Notes”) denominated in any currency agreed between the relevant Issuer and the relevant Dealer. The obligations of the Cayman Issuer in respect of Notes issued by it are unconditionally and irrevocably guaranteed by CBD (in such capacity, the “Guarantor”). References in this Base Prospectus to the “Obligors” are to the Cayman Issuer and CBD, and references to the “relevant Obligors” shall be a reference to, in the case of an issue of Notes by CBD, CBD, and in the case of an issue of Notes by the Cayman Issuer, to each of the Cayman Issuer and the Guarantor and “relevant Obligor” shall be a reference to either of them, as the context may require. Notes may be issued in bearer or registered form (respectively, “Bearer Notes and Registered Notes”).
    [Show full text]