Latest news with #Aani
Hi Dubai
6 days ago
- Business
- Hi Dubai
CBD Marks Twenty Consecutive Quarters of Profit Growth with Record H1 2025 Earnings
Commercial Bank of Dubai (CBD) has announced its financial results for the second quarter and first half of 2025, achieving a remarkable milestone of 20 consecutive quarters of profit growth – a feat unmatched by any other bank in the UAE over the same period. The Bank reported a net profit before tax of AED 1.862 billion, representing a 16.7% increase compared to the same half last year. CBD's strong growth was further underscored by its total assets surpassing AED 150 billion for the first time in its history, reflecting sustained momentum and strategic execution. This performance has been driven by solid customer engagement, robust lending activity, and broad-based economic expansion supported by public sector investments and population growth. Delivering 20 consecutive quarters of net profit growth whilst growing the balance sheet to exceed AED 150 billion are significant milestones for CBD, said Dr. Bernd van Linder, Chief Executive Officer. Our consistent performance over the past five years, despite global headwinds such as the pandemic, volatile interest rates and supply chain disruptions, demonstrates the strength of our strategy and our continued commitment to customers. We are pleased with the latest performance which is a testament to our disciplined growth and market leadership. We remain focused on delivering on our strategic targets for 2025 and beyond. CBD's transformation agenda continues to deliver results. The Bank recorded its highest SME Net Promoter Score in over three years for H1 2025, following enhancements to onboarding and service delivery. At the same time, CBD's leadership in innovation was recognised through multiple industry awards, including Best Digitisation Initiatives, Best Mobile Banking Services, and Best Technological Innovation in Financial Services, affirming its digital-by-design ethos. The Bank also supported national initiatives such as Aani payments and the 'Xport Xponential' programme by Etihad Credit Insurance, reinforcing its alignment with the UAE's vision for financial innovation and inclusion. Now in its sixth decade, CBD continues to deliver top-quartile returns, with a return on equity of 22.6%, a cost-to-income ratio of 26.5%, and improved asset quality. With a robust capital base and a clear digital-first strategy, CBD is well-positioned to sustain its growth trajectory and back the nation's ambition. Source: Ogilvy
TECHx
7 days ago
- Business
- TECHx
Central Bank Launches AI Venture with Presight
Home » Emerging technologies » Fintech » Central Bank Launches AI Venture with Presight The Central Bank of the United Arab Emirates (CBUAE) and Presight, AI and big data analytics company, have announced the launch of a joint venture. The initiative supports the CBUAE's Financial Infrastructure Transformation Programme (FIT). This strategic partnership marks a major milestone in the UAE's efforts to enhance resilience and integrate artificial intelligence across the financial ecosystem. The signing ceremony was witnessed by key officials, including: H.E. Khaled Mohamed Balama, Governor of the CBUAE H.E. Mansoor Ibrahim Al Mansoori, Vice Chairman of Presight H.E. Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services The agreement was signed by H.E. Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE, and Mr. Thomas Pramotedham, CEO of Presight. The joint venture will deliver sovereign, AI-powered platforms and services to strengthen the UAE's financial market infrastructure. It will support critical systems such as: Central Bank Digital Currency (CBDC) Instant Payments Platform (Aani) Domestic Card Scheme (Jaywan) National Card Switch Real-Time Gross Settlement (RTGS) system Open Finance initiative (Nebras) H.E. Ebrahim Obaid Al Zaabi stated that the venture reinforces the UAE's commitment to building a secure, efficient, and future-ready financial system. He noted that combining the CBUAE's infrastructure strategy with Presight's technology will enhance the UAE's position as a global financial hub. Mr. Thomas Pramotedham added that the venture will apply advanced AI to key financial systems. He emphasized that this sovereign finance technology initiative is designed to accelerate innovation, resilience, and operational security.
Al Etihad
7 days ago
- Business
- Al Etihad
Central Bank of UAE, Presight launch joint venture to support Financial Infrastructure Transformation Programme
23 July 2025 11:25 ABU DHABI (WAM)The Central Bank of the United Arab Emirates (CBUAE) and Presight, a leading AI and big data analytics company, have announced the launch of a groundbreaking joint venture aimed at supporting the Financial Infrastructure Transformation programme (FIT) launched by the strategic partnership marks a major milestone in the UAE's journey to strengthen resilience, and harness artificial intelligence across every facet of its financial signing ceremony for the joint venture was witnessed by Khaled Mohamed Balama, Governor of the CBUAE; Mansoor Ibrahim Al Mansoori, Member of the Abu Dhabi Executive Council, Chairman of the Department of Health - Abu Dhabi and Vice Chairman of Presight, and Saif Humaid Al Dhaheri, Assistant Governor for Banking Operations and Support Services at agreement was signed by Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE and Thomas Pramotedham, Chief Executive Officer of new joint venture will deliver sovereign, AI-powered technological platforms and services to support and enhance the UAE's financial market will play a central role in the development, maintenance, and technical support of various critical financial market infrastructures, including the Central Bank Digital Currency (CBDC) infrastructure, Instant Payments Platform (Aani), Domestic Card Scheme (Jaywan), National Card Switch, Real-Time Gross Settlement (RTGS) system, and Open Finance (Nebras).Commenting on the agreement, Ebrahim Al Zaabi said, 'This collaboration marks a strategic step toward ensuring the UAE's financial market infrastructure remains resilient, secure, efficient and future-ready, while also supporting the accelerated transformation of the financial sector."By leveraging the leading role of the CBUAE's Financial Infrastructure Transformation Programme and the technological expertise of Presight, this venture will strengthen the financial ecosystem of the UAE and the national economic stability, thereby enhancing the country's position as a global financial hub." Pramotedham said that this joint venture represents a decisive leap forward in applying advanced AI to the heart of the UAE's financial infrastructure. It is purpose-built to accelerate innovation, enhance resilience, and ensure the seamless evolution of critical financial systems.
Fintech News ME
7 days ago
- Business
- Fintech News ME
CBUAE and Presight Launch Joint Venture to Boost AI Integration in Financial Infrastructure
The Central Bank of the United Arab Emirates (CBUAE) and Presight, an AI and big data analytics company, have announced the establishment of a joint venture to support the CBUAE's Financial Infrastructure Transformation (FIT) Programme. The initiative represents a key development in the UAE's efforts to strengthen the resilience of its financial systems and integrate artificial intelligence across its financial ecosystem. The joint venture will deliver sovereign, AI-based technology platforms and services designed to support and improve the UAE's financial market infrastructure. It will contribute to the development, upkeep, and technical support of key financial systems such as the Central Bank Digital Currency (CBDC) infrastructure, Instant Payments Platform (Aani), Domestic Card Scheme (Jaywan), National Card Switch, Real Time Gross Settlement (RTGS) system, and Open Finance platform (Nebras). Ebrahim Obaid Al Zaabi, Assistant Governor for Monetary Policy and Financial Stability at CBUAE, stated, 'By leveraging the leading role of the CBUAE's Financial Infrastructure Transformation Programme and the technological expertise of Presight, this venture will strengthen the financial ecosystem of the UAE and the national economic stability, thereby enhancing the country's position as a global financial hub.' Thomas Pramotedham, CEO of Presight, commented, 'By focusing exclusively on AI driven financial solutions, we are creating a sovereign finance technology powerhouse that will redefine how financial markets operate, faster, with applied intelligence, and more securely than ever before.'
The Hindu
08-07-2025
- Automotive
- The Hindu
Four golden cars, seven silver cars of temples to be dedicated before December-end, says Minister
Four golden cars and seven silver cars of the temples will be ready and dedicated to the shrines before December-end, Minister for Hindu Religious and Charitable Endowment P.K. Sekar Babu has said. Speaking to reporters after inaugurating the 'Aani' car festival of Swami Nellaiyppar – Gandhimathi Ambal Temple here along with Tamil Nadu Assembly Speaker M. Appavu on Tuesday, Mr. Sekar Babu said 134 cars for 130 temples across Tamil Nadu were being made at the cost of ₹75 crore even as renovation of 72 temples had been taken-up on an outlay of ₹19 crore. Sheds for parking 197 wooden cars of temples had been created at the expense of ₹30 crore to protect them from rain and shine. Following appeals from the devotees, five golden cars costing ₹31 crore and nine silver cars on an outlay of ₹29.77 crore were being fabricated. Of this, the golden car of Periyapalayam Temple and the silver cars of Thiruttani and Kalikambal Temple, Chennai, had already been dedicated. Hence, the remaining golden and silver cars would be ready before December-end. Moreover, Vettuvanam Ellaiyamman Temple in Vellore district would get the silver car soon, the minister said. When asked about AIADMK general secretary Edappadi K. Palaniswami's observation that Chief Minister M.K. Stalin was suffering from 'panic fever' after seeing the massive turnout for his 'Save people, Redeem Tamil Nadu' election campaign which he kickstarted at Mettupalayam, Mr. Sekar Babu retorted that the DMK would retain power with the people's mandate even though the AIADMK – BJP combine, who were suffering from 'losing fever', were intimidating their political rivals with their CBI, Enforcement Directorate, Income Tax etc. 'None has the power to defeat the Democratic Progressive Alliance in Tamil Nadu,' Mr. Sekar Babu claimed. He also blamed 'certain elements' for creating legal hurdles while the DMK government was carrying out development works in the temples. 'These forces even tried to stay through the courts even the consecration of Tiruchendur temple and are putting blocks for creating more facilities in the temples. But we'll smash all these hurdles,' he said. The minister also informed that 1.50 lakh palm manuscripts in the temples across Tamil Nadu were being digitised and the palm manuscripts would be displayed in the districts from where they were recovered. On the ongoing development works in Swami Nellaiyappar Temple, the minister said laying of tiles on the terrace of Amman Sannidhi at the cost of ₹1.43 crore and the renovation of the stone mandapam in the same area had been completed on an outlay of ₹99 lakh. The 'karu urumaari theerthakulam' renovation work had been initiated at the expense of ₹1.60 crore. 'The trial run of the 450 kg-silver car of Swami Nellaiyappar Temple, which is being made at the cost of ₹5 crore will be conducted before October-end. We've strengthened the temple's security arrangements by installing new CCTV cameras at the cost of ₹30 lakh. Since the shrine attracts more devotees during festivals, food will be served to 500 persons on special occasions against the regular number of 100,' Mr. Sekar Babu informed. He also said cloak room (₹32.60 lakh) and toilets (₹14.70 lakh) had also been built in Swami Nellaiyappar Temple.
