SPARK and Startups Without Borders Launch an Incubation Programme With $10k in Cash Prizes and a Final Pitch in Amsterdam

SPARK and Startups Without Borders Launch an Incubation Programme With k in Cash Prizes and a Final Pitch in Amsterdam

AMSTERDAM – Startups Without Borders is partnering with SPARK to launch Startups On The Move Incubation programme, with support from Google.org. The programme entails a 5-month incubation and mentorship programme to equip 130 entrepreneurs in Lebanon, Iraq and Palestine, with the tools to succeed, and prepare them for the final pitching competition in Amsterdam. The incubation programme aims to strengthen the skills of young aspiring entrepreneurs of both refugee and local background, providing training on fundamental business skills, including business planning, financial planning, business modeling, and investor pitching. The programme…

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…