UAE Visitor Bed-nights in Switzerland Up 20.8 Percent on Pre-pandemic Levels

Dubai, United Arab Emirates According to the latest figures released by Switzerland Tourism, UAE residents staying overnight in Switzerland have surpassed pre-pandemic levels. Comparing figures between July to December 2021 with the same period in 2019, the number of bed-nights recorded, increased 20.8% from 188,384 to 227,482. The number of UAE arrivals also grew from 75,084 to 85,632, during the same period, 2019 versus 2021. “These are extraordinary figures and underscores the popularity of Switzerland with Emirati nationals as well as residents. From the moment that UAE residents were allowed to…

Q4/FY 2021 EARNINGS PRESS RELEASE AND MANAGEMENT DISCUSSION & ANALYSIS

Q4/FY 2021 EARNINGS PRESS RELEASE AND MANAGEMENT DISCUSSION & ANALYSIS

Robust full year performance despite low interest rate environment driven by strong non-interest income, improved cost to income ratio and above-target synergies Key highlights – FY’21 vs. FY’20 Net profit of AED 5.247 bn increased 38% Net interest income of AED 864 bn was 9% lower Non-interest income of AED 396 bn increased 26% Operating expenses of AED 257 bn decreased 6% Cost to income ratio of 7% improved 160 basis points Realised cost synergies of AED 191 bn, exceeded the AED 1 bn target Impairment charges of AED 646…