Mystery buyer of bank stake revealed as QNB
(The National
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31/08/2012)
Qatar National Bank has revealed itself as the mystery buyer that accumulated a huge stake in Commercial Bank International (CBI) last week. "We would like to confirm that Qatar National Bank has increased its equity in CBI from 16.5 per cent to 39.9 per
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NBAD opens 30th branch in Egypt
(Khaleej Times
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30/08/2012)
The National Bank of Abu Dhabi (NBAD), the No.1 in the UAE, reached a milestone in Egypt this month with the launch of a branch on the Red Sea coast. The new NBAD office is located in Al Kawthar area, the main banking district in Hurghada, the leading
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Gulf bond market forges global links
(Khaleej Times
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30/08/2012)
When Abu Dhabi's biggest bank issued a $750 million bond in August, strong investor demand underlined how well most Gulf banks are riding out the global financial crisis. The issue also sent another signal: that the region's debt market is growing
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FGB’s Sukuk ‘Best Islamic Deal in UAE’
(Khaleej Times
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30/08/2012)
First Gulf Bank, or FGB, was awarded the 2012 “Best Islamic Deal in the UAE” award for its $650 million sukuk (Islamic bonds) issuance in August 2011, which was six times oversubscribed. The award was presented during the Asset Triple A Islamic Finance
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Mashreq partners with Jashanmal to offers exclusive discounts
(Press Release
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29/08/2012)
Reflecting on its commitment to extend unique card offerings to customers, UAE’s leading financial institution Mashreq announced an exclusive warehouse sale in partnership with Jashanmal Department Stores. The three-day warehouse sale will be held from
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Bank muscat Al Mazyona aims at service of society
(Oman Daily Observer
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29/08/2012)
bank muscat recently launched “Al Mazyona” Programme Initiative aimed at serving Omani society as part of its social responsibility-related commitments. The initiative takes the form of offering support and assistance to orphaned children and
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Emirates NBD unit plans up to 5% dividend for H1
(Khaleej Times
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29/08/2012)
Emirates NBD Asset Management Limited, the asset management arm of Emirates NBD Bank, announced strong dividends to be distributed on its income range of funds for the first half of 2012, on Monday. The dividends approved by the boards of the
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More than 150 university students joined NBK Summer Training Program
(Al Watan
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26/08/2012)
More than 150 students participated in National Bank of Kuwait's (NBK) Summer Training for university students in Kuwait. This was stated in a press release on Saturday. NBK initiated the Summer Training Program for university students as part of its
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QNB main sponsor of IHF Super Globe
(Gulf Times
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26/08/2012)
The 2012 International Handball Federation (IHF) Super Globe tournament will be held at the Al Gharafa Arena from August 27 to September 1. Qatar National Bank will be the exclusive sponsor for the event. This was announced at a press conference by Ahmad
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Fitch affirms Ahli Bank QSC at 'A-'; outlook stable
(AME Info
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25/08/2012)
Fitch Ratings has affirmed Ahli Bank QSC's (ABQ) Long-term Issuer Default Rating (IDR) at 'A-' with a Stable Outlook. The Viability Rating (VR) has been affirmed at 'bbb-'. A full list of rating actions is at the end of this comment. ABQ's IDRs, Support
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CBI organises employee wellness programme
(Khaleej Times
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25/08/2012)
Commercial Bank International, or CBI, has teamed up with Amber Clinics Dubai, for free health checks for staff and their families. The partnership between CBI and Amber Clinics comes as part of an employee wellness program; the Bank is conducting for
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NBAD ranked safest bank in Middle East
(Khaleej Times
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24/08/2012)
The National Bank of Abu Dhabi (NBAD) has been ranked for the fourth consecutive year one of the “World’s 50 Safest Banks” and the safest bank in the Middle East by Global Finance magazine. “We are proud to be recognised as one of World’s 50 Safest Banks
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Fitch affirms QIB rating at ‘A’ with stable outlook
(Gulf Times
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23/08/2012)
Credit rating agency Fitch has affirmed Qatar Islamic Bank’s (QIB) long-term issuer default rating (IDR) at ‘A’ with a stable outlook and viability rating (VR) at ‘bbb’. The IDRs, support rating and support rating floor reflect Fitch’s view that there
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Home rates up on demand
(Khaleej Times
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23/08/2012)
Risk averse banks in the country should play a role in resuming lending to Dubai’s real estate sector, which has shown genuine demand in recent months, a top official of United Arab Bank (UAB) said. “The real estate prices in Dubai, in recent months,
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$ 66.4 bn sukuk issued globally in H1
(Arab News
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23/08/2012)
The volume of sukuk issued globally during the first half of the current year reached $ 66.4 billion, according to a report released by KFH-Research, an affiliate of Kuwait Finance House (KFH). The increase in sukuk issuance during the period was
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KFH concludes Ramadan charity program, honors involved employees
(AME Info
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22/08/2012)
Kuwait Finance House (KFH) concluded its social and religious voluntary program that it organized during Ramadan. The program included numerous initiatives and charitable contributions, in addition to other surprises that were announced at the time.
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KFH sponsors Jomana Al-Kandari to attend int'l medical conference
(AME Info
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21/08/2012)
Kuwait Finance House (KFH) sponsored nutritionist at Amiri Hospital Jomana Al-Kandari to allow her to attend the first international conference for the nutrition of kidney patients that was held in the United States last month. This step comes as part of
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Fitch affirms QIB at ‘A’; outlook stable
(The Peninsula
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21/08/2012)
Fitch Ratings has affirmed Qatar Islamic Bank’s (QIB) Long-term Issuer Default Rating (IDR) at ‘A’ with a stable outlook and Viability Rating (VR) at ‘bbb’. A full list of rating actions include assigning of short-term IDR affirmed at ‘F1’, support
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NBAD launches new services
(Khaleej Times
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18/08/2012)
The National Bank of Abu Dhabi, or NBAD, has launched two new high-quality services available to individual investors, institutions and high net worth individuals. “The NBAD Bespoke and Investment Advisory offer the UAE investor the benefits of highest
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NBAD repays Dh1 billion of MoF debt
(Khaleej Times
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17/08/2012)
National Bank of Abu Dhabi, the second-largest bank in the UAE by assets, on Thursday said it repaid Dh1 billion ($272 million) of Ministry of Finance, or MOF, subordinated notes. Before the repayment, the bank had a total of Dh5.6 billion of Ministry of
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Mashreq’s high rewards?promotion
(Khaleej Times
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16/08/2012)
Mashreq’s Salaam Rewards programme rewards customers with higher points for using various Mashreq financial solutions in addition to higher points on all credit and debit card spends, including double points on Mashreq Platinum Credit cards. Ambar
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Gulf Bank announces H1 operating profit of KD 58.7 million
(Al Watan
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14/08/2012)
Gulf Bank announced in a press release on Monday an operating profit of 58.7 million Kuwaiti dinars for the first half of 2012. The Bank further increased the precautionary reserve by KD 34 million to reach KD 124 million, in line with its strategic plan
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CBK operating profit before provisions reach KD 47.3m
(Kuwait Times
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11/08/2012)
Commercial Bank of Kuwait (CBK) announced an operating profit before provisions for the period of KD 47.277 million (H1 of 2011: KD 52.333 million). This was allocated as specific and judgemental provisions against the loan and investment portfolios
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ADIB starts community banking
(Khaleej Times
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11/08/2012)
Abu Dhabi Islamic Bank, or ADIB, a top-tier Islamic financial services institution, announced the launch of ADIB Community Banking to address the banking requirements of non-profit organisations as well as government and private companies focused on
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CBK Q2 profit drops as provisions bite again
(Reuters
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09/08/2012)
Commercial Bank of Kuwait (CBK), the country's seventh biggest bank by market value, posted a 5.4-percent drop in quarterly profits on Wednesday as heavy provisioning once again wiped out earnings growth. The lender had net profit of 122,000 dinars
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