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DIAL Upgraded to B by S&P on Passenger Traffic Recovery
Standard Chartered (StanChart) reported a 7% YoY rise in Q1 2022 net profits to $1.18bn. Net interest income was up 8% to $1.79bn and non-interest income was up 10% to $2.48bn. The bank reported a $200mn credit impairment charge as compared to a $20mn charge during...
R&F Properties to Sell London Asset at $235mn Loss
Guangzhou R&F Properties will book a loss of ~HKD 1.84bn ($235mn) from the sale of its 50% stake in its London project. The developer agreed to sell the project known as "Thames City" for a consideration of HKD $2.66bn ($340mn) to Cheung Chung Kiu, chairman of C C...
Apple Reports Solid Earnings; Warns of $8bn Hit from Supply Issues
Apple reported solid results with a quarterly revenue record of $97.3bn, up 9% YoY. Net income stood at $25bn, up 6% YoY. The divisional split in revenues are given below: iPhone revenues were at $50.57bn, up 5.5% YoY Services revenues were at $19.82bn, up 17.3% YoY...
Shriram Transport Finance’s Net Profit Jumps 44%
India's Shriram Transport Finance's (STFC) net profits jumped 44% YoY in the preceding quarter to INR 10.9bn ($140mn). Net interest income increased 22% to INR 26.3bn ($340mn), helping profits tick higher. Total operating revenues were up 13% to INR 50.9bn ($660mn)...
DBS and UOB Report 10% Profit Drop in Q1
DBS reported a 10% YoY fall in Q1 2022 net profits to S$1.8bn. DBS said that higher base effects for wealth management and treasury markets activities last year was one of the reasons for the dip in profits. Total income fell 3% YoY to S$3.75bn, of which, net interest...
Abu Dhabi Islamic Bank Sees 18% Profit Jump in Q1
UAE-based Abu Dhabi Islamic Bank (ADIB) reported an 18% YoY increase in consolidated net profits to AED 715mn ($192.7mn) during Q1 2022. Total revenues rose to AED 1.5bn ($410mn), up 6% YoY, driven by a 12% increase in non-funded income to AED 620mn ($168.8mn) and a...
Macro; Rating Changes; New Issues; Talking Heads; Top Gainers and Losers
US equity markets saw a minor respite, with the S&P up 0.2% while Nasdaq was flat after a massive sell-off on Tuesday. Sectoral gains were led by Energy, Materials and IT, up over 1% while Communication Services were down 2.6%, leading the losses. US 10Y Treasury...
Deutsche Bank Reports 18% Profit Jump in Q1; Highest Since 2013
Deutsche Bank reported its highest quarterly net profits since 2013, up 18% YoY at €1.2bn ($1.3bn). Its net revenues were up 1% to €7.3bn ($7.7bn). Investment Banking revenues were up 7% to €3.3bn ($3.5bn), led by Fixed Income & Currencies (FIC) revenues rising...
Emirates REIT Reports Profits in 2021, Overturning Prior Year’s Losses
Emirates REIT reported a net profit of $63.1mn in FY2021, from a net loss of $242.9mn in 2020. Emirates REIT reported a 59.3% rise in operating profit to $46.6mn in 2021. Net Property Income increased by 7.7% YoY to $56mn as the company noted that it focused on cost...
