Featured Product

    CMF Reports Performance of Supervised Banks Amid COVID-19 Crisis

    June 26, 2020

    CMF published a report, along with the associated data, on the performance of supervised banks and cooperatives amid the COVID-19 crisis. CMF reported that, in May, loans from the banking system grew 8.63% in 12 months, driven by the commercial portfolio in the context of the granting of loans with a Fogape COVID-19 guarantee. The performance report points out that variations in total loans and commercial loans are influenced by the granting of loans with a Fogape COVID-19 guarantee during May. Without considering these operations, loans from the banking system would have grown 6.78%, measured in 12 months.

    The housing portfolio registered an increase of 8.12%, which is lower than the previous month number of 8.79% while consumption registered a fall for the third consecutive month. In terms of credit risk, the indicators increased again in the month. The loan-loss provisioning index rose from 2.59% to 2.61%, the delinquency rate of 90 days or more went from 2.03% to 2.07% and the indicator of impaired portfolio rose from 5 0.03% to 5.22%. Consumption was the portfolio that registered the highest increases in its risk indicators. The profit for May, of $103,591 million (MMUSD 127), was reduced by 49.01% in monthly terms (that is, compared to April 2020) and 19.47% compared to 12 months ago. The lower result for the month was mainly due to a decrease in the interest margin and in the result of financial operations. Consequently, the return on average equity fell to 11.15% and the return on average assets reached 0.84%.


    Related Links (in Spanish)

    Keywords: Middle East and Africa, UAE, Dubai, Banking, Cyber Risk, DIFC, Operational Risk, Cyber Testing, Outsourcing Arrangements, Third-Party Arrangements, Dubai FSA

    Featured Experts
    Related Articles
    News

    Regulators Fine Goldman Sachs for Risk Management Failures

    FCA and PRA in the UK, FED in the US, and the authorities in Singapore have fined Goldman Sachs for risk management failures in connection with the 1Malaysia Development Berhad (1MDB).

    October 23, 2020 WebPage Regulatory News
    News

    Canada Hosts International Conference of Banking Supervisors

    BCBS announced that OSFI and the Bank of Canada hosted the 21st International Conference of Banking Supervisors (ICBS) virtually on October 19-22, 2020.

    October 22, 2020 WebPage Regulatory News
    News

    FCA Proposes More Measures to Help Insurance Customers Amid Crisis

    FCA proposed guidance on how firms should continue to seek to help customers who hold insurance and premium finance products and may be in financial difficulty because of COVID-19, after October 31, 2020.

    October 21, 2020 WebPage Regulatory News
    News

    EBA Issues Opinion to Address Risk Stemming from Legacy Instruments

    EBA issued an opinion on prudential treatment of the legacy instruments as the grandfathering period nears an end on December 31, 2021.

    October 21, 2020 WebPage Regulatory News
    News

    ESRB Publishes Non-Bank Financial Intermediation Risk Monitor for 2020

    ESRB published the fifth issue of the EU Non-bank Financial Intermediation Risk Monitor 2020 (NBFI Monitor).

    October 21, 2020 WebPage Regulatory News
    News

    HM Treasury Publishes Policy Statement Amending Benchmarks Regulation

    HM Treasury announced that the new Financial Services Bill has been introduced in the Parliament.

    October 21, 2020 WebPage Regulatory News
    News

    APRA Initiates Action Against a Bank for Liquidity Compliance Breach

    APRA announced that it has increased the minimum liquidity requirement of Bendigo and Adelaide Bank for failing to comply with the prudential standard on liquidity.

    October 21, 2020 WebPage Regulatory News
    News

    PRA Consults on Implementation of Certain Provisions of CRD5 and CRR2

    PRA published the consultation paper CP17/20 to propose changes to certain rules, supervisory statements, and statements of policy to implement elements of the Capital Requirements Directive (CRD5).

    October 20, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Rule to Reduce Impact of Large Bank Failures

    US Agencies adopted a final rule that applies to advanced approaches banking organizations and aims to reduce interconnectedness in the financial system as well as to reduce contagion risks associated with the failure of a global systemically important bank (G-SIB).

    October 20, 2020 WebPage Regulatory News
    News

    US Agencies Finalize Rule on Net Stable Funding Ratio Requirements

    US Agencies (FDIC, FED, and OCC) adopted a final rule that implements the net stable funding ratio (NSFR) for certain large banking organizations.

    October 20, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6004