Royal Bank of Scotland has given long-suffering investors a taste of what normality looks like. The government-controlled UK lender delivered a 47 per cent rise in net profit due to fewer one-off charges. Greater savings could see the bank hit its 12 per cent return on tangible equity (ROTE) target by 2020, implying a share price rise of around one half. That gives the UK Treasury a reason to defer planned sales. After years of waiting and tens of billions of pounds in losses, RBS announced its first annual cash dividend"...

Passively earned interest from bank deposits or dividend income cannot have VAT applied, the UAE Federal Tax Authority said on Tuesday.

The government body said the income was “outside the scope of VAT”, as it issued a public clarification on bank interest and dividends in a bid to educate taxpayers on all technical issues concerning taxes.

Khalid Al Bustani,"...

The National Bank of Ras Al Khaimah expects to post higher earnings rather than just lower provisions in 2019 compared with last year and aims to issue a bond of about $500 million, its chief executive said.

Rakbank, which reported a 13.2 per cent net profit increase for 2018 thanks to an 8.5 per cent drop in provisions, expects to boost its income as it continues to diversify its loan book composition, Peter England told The National. Fourth-quarter"...

Japan's SoftBank booked a 24 per cent rise in quarterly profit on Tuesday as users switched to data-heavy plans, pinning future growth on the rise of 5G services in the mobile carrier's first earnings report as a public company.

With concerns over a changing mobile market keeping its shares below their blockbuster IPO price, investors are looking for reassurance that the company can keep its promise of paying 85 per cent of annual profit"...

FRANKFURT — Deutsche Bank returned to profit in 2018, its first in four years, despite a greater-than-expected loss in the fourth quarter, the German lender said on Friday.

Deutsche Bank has been trying to turn itself around under a new leadership, but has faced continuous hurdles, including allegations of money laundering, ratings downgrades and failed stress tests.

The"...

Damascus, SANA – Syria and Iran signed the banking cooperation agreement between Syria’s Central Bank and Iran’s Central Bank with the aim of boosting cooperation and coordination between the two institutes.

The agreement aims at serving stabilization of the banking sector and enhancing it and facilitating trade exchange and encouraging investment as well as boosting economic relations in light of the current circumstances.