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KFH posts $480m net profit (Gulf Daily News - 31/01/2016)

Kuwait Finance House (KFH) posted a net profit of 145.8 million Kuwaiti dinars ($479.8m) for the fiscal year 2015 compared with KD126.5m for 2014, an increase of 15.3 per cent. Earnings per share increased to reach 31.1 fils, an increase of 15.3pc.

Bank Muscat wins Best SME Bank award in recognition of unique initiati (Oman Daily Observer - 31/01/2016)

Bank Muscat, the flagship financial services provider in the Sultanate, won the coveted Entrepreneurship Award 2015 in recognition of unique initiatives in support of SME development in the Sultanate. AbdulRazak Ali Issa, Chief Executive, received the

QNB wins top awards from The Banker Magazine (Gulf Times - 31/01/2016)

QNB has been recognised for its “Best SME Customer Service” and “Best Managed Advisory Service in Qatar” by the Banker Middle East Magazine, the bank has said in a statement. QNB’s Group Corporate Banking received the “Best SME Customer Service” award,

United Arab Bank winds down SME unit after surge of UAE debtors (Reuters - 28/01/2016)

United Arab Bank (UAB), hard hit by a surge in debt defaults among small business owners in the UAE, is winding down its SME unit to focus on larger companies in a bid to return to profit, it said on Thursday. The bank’s earnings were hobbled last year

Kuwait's Gulf Bank Q4 profit rises 5 pct (Reuters - 28/01/2016)

Gulf Bank, Kuwait's fourth-largest lender by assets, reported a 5 percent rise in fourth-quarter net profit on Thursday. Net profit for the three months to Dec. 31 was 9.4 million dinars ($31 million), compared with 8.9 million dinars from a year

BisB secures best retail bank award (Gulf Daily News - 28/01/2016)

Bahrain Islamic Bank (BisB) has won the Best Islamic Retail Bank in Bahrain 2015 award given by London-based International Finance Magazine. The bank’s win for the second year in a row is “a recognition of the progress of its business and its

BankDhofar’s net grows 15.62 pc (Oman Daily Observer - 28/01/2016)

The premier international energy futures and commodities exchange in the Middle East, announced on Wednesday a new open interest record for its flagship Oman Crude Oil Futures contract of 31,492 lots, which is equivalent to 31.5 million barrels of Omani

QIIB’s income grows 4.6%, net profit touches QR784m (The Peninsula - 28/01/2016)

Qatar’s major Islamic lender International Islamic (QIIB) recorded a total income amounting to QR1.59bn, with a net profit of QR784.2m for the full year 2015. QIIB’s net profit stood at QR825.8m at the end of 2014. QIIB has achieved earnings per share

Commercial Bank of Qatar 2015 net hits $389m (Trade Arabia - 28/01/2016)

Commercial Bank of Qatar earned a net profit of QR1.458 billion ($389 million) in the year ending Dec. 31, against a profit of QR1.94 billion a year ago, the bank said in a statement. CBQ, which also owns Alternatifbank in Turkey and holds a 34.9 per

Mashreq Q4 net profit falls 13.7pc (Reuters - 27/01/2016)

Mashreq, Dubai's third-biggest bank by assets, posted a 13.7 percent fall in fourth-quarter net profit on Wednesday. The lender made a net profit of Dh556.2 million ($151.45 million) in the three months to Dec. 31, it said in a statement. This was down

Moody's confirms BisB’s Ba3 issuer ratings (CPI Financial - 27/01/2016)

Moody's Investors Service has today confirmed Bahrain Islamic Bank's (BIsB) Ba3 issuer ratings and upgraded the standalone baseline credit assessment (BCA) to b3 from caa1. At the same time the bank's counterparty risk assessment of Ba2(cr)/NP(cr) were

Bank Muscat Board proposes dividend for 2015 (CPI Financial - 27/01/2016)

Bank Muscat has proposed 30 per cent dividend for the year 2015. Continuing the bank’s strong dividend payment track record, the Board of Directors has proposed 25 per cent cash dividend for the year 2015 which is consistent with the cash dividend paid

Saudis Present Plans to Run Low-Budget Kingdom (Sputnik News - 27/01/2016)

Saudi Arabia has presented a plan that seeks to reassure investors its economy can cope with the challenges of cheap oil, which left the kingdom with a budget deficit in 2015 that was 15 percent of GDP. Saudi Arabia has presented a reform plan to

Dubai Islamic Bank Q4 net profit rises 62.8 pct, raises dividend (Reuters - 27/01/2016)

Dubai Islamic Bank (DIB), the United Arab Emirates' largest sharia-compliant lender, posted a 62.8 percent increase in fourth-quarter net profit on Wednesday, according to Reuters calculations. The bank made 1.15 billion dirhams ($313.1 million) in the

Lower revenues, higher provisions hit National Bank of Abu Dhabi profi (Reuters - 27/01/2016)

National Bank of Abu Dhabi , the United Arab Emirates's largest lender by assets, reported a 24.5 percent drop in fourth-quarter net profit on Wednesday, hit by higher provisions and lower revenues. The bank, or NBAD, made a net profit of 1.04 billion

Qatar National Bank closes $600 mln one-yr bond - arranger (Reuters - 27/01/2016)

Qatar National Bank (QNB), the largest lender in the Gulf Arab region, closed a $600 million one-year bond issue on Tuesday, a spokesman for its sole arranger confirmed. The transaction paid a coupon of 1.22 percent and was solely arranged by Morgan

National Bank of Oman board recommends 27 per cent dividend (Times of Oman - 27/01/2016)

National Bank of Oman (NBO) said that the bank’s board has recommended a cash dividend of 17 per cent and stock dividend of 10 per cent (or one share for every 10 shares held) for 2015 to its shareholders. The dividend proposal is subject to the approval

QNB gets JP Morgan elite quality award (The Peninsula - 27/01/2016)

QNB, the leading financial institution in the Middle East and North Africa, received the 2015 Elite JP Morgan Quality Recognition Award for MT103/ MT202 category of payments , with excellent ratings of 99.80 percent for the MT202 and of 99.24 percent for

NBB net profit surges 3.4pc to $147 million (Gulf Daily News - 26/01/2016)

National Bank of Bahrain (NBB) achieved a net profit of BD55.26 million ($146.97m) in 2015, compared with BD53.44m ($142.12m) in 2014, an increase of 3.4 per cent. For the fourth quarter of 2015, the bank recorded a net profit of BD11.90m ($31.65m)

Reports of loan defaults are overblown, says NBAD chief (The National - 26/01/2016)

The chief of Abu Dhabi’s biggest bank said non-performing loans (NPL) in the financial system were still at low levels, despite some lenders reporting rising impairments. He also dismissed fears of rising defaults among small businesses as exaggerated.

UAE lenders’ bad debts start to weigh on financial results (The National - 26/01/2016)

UAE banks are starting to feel the pain from tumbling oil prices and a slowing economy. While there have been indications of lower loan growth and rising defaults amid job cuts and reports of small businesses going bankrupt, the fourth-quarter results

Gary Dugan appointed CIO of Emirates NBD (Gulfnews - 26/01/2016)

Emirates NBD on Monday announced the appointment of Gary Dugan as Chief Investment Officer – Wealth Management. An accomplished investment professional with over 30 years of experience with some of the world’s leading investment banks, Dugan returns to

UNB reports Dh1.86b net profit, down 8% on higher impairments (Gulfnews - 26/01/2016)

Union National Bank (UNB) on Monday reported a net profit of Dh1.86 billion for the year 2015, down 8 per cent compared to Dh2 billion reported in 201 4. The bank’s net profit for the fourth quarter of the year was down 55 per cent to Dh195 million

Bank Muscat outlines customer-centric business growth opportunities (Oman Daily Observer - 25/01/2016)

Bank Muscat, the flagship financial services provider in the Sultanate, reviewed the 2015 performance and outlined its customer-centric future strategies at the annual Leadership Forum attended by the Management and branch leadership. In light of the

Doha Bank sees tough 2016 on global economy (Trade Arabia - 25/01/2016)

Doha Bank expects 2016 to be a tough year as global economic conditions impact on its performance, the chief executive said on Sunday, after Qatar's fourth-largest lender by assets reported a 6.1 per cent rise in fourth-quarter net profit. Global markets

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