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BBK names new chief executive (Gulf Daily News - 31/03/2016)

BBK, Bahrain’s fourth largest bank by assets, has announced the appointment of Reyadh Yousif Sater as its new chief executive with effect from tomorrow. Mr Sater takes over the role from Abdulkarim Bucheery who has retired. The announcement was made

NBO approves cash and stock dividends (Oman Daily Observer - 31/03/2016)

National Bank of Oman (NBO) announced recently that a distribution of a 17 per cent cash dividend of the paid up capital (baisa 17 per share) and 10 per cent stock dividend (one share per each 10 shares) was approved following the conclusion of its

Khaliji issues QR1bn capital notes (Gulf Times - 31/03/2016)

The Al Khaliji headquarters in Doha. Al Khalij Commercial Bank (Al Khaliji) announced that it has issued yesterday perpetual, non-cumulative Tier 1 capital instruments worth QR1bn to support funding future growth across the bank. The instruments have

NBK to increase capital by 6.5pc (Trade Arabia - 31/03/2016)

National Bank of Kuwait’s (NBK) board of directors has agreed to increase the bank’s capital through a 6.5 per cent rights issue. The bank will issue 343.96 million shares at 400 fils per share. The issuance price includes an issuance premium of 300 fils

NBK-Egypt posts $64m net profit, up 53pc (Trade Arabia - 30/03/2016)

National Bank of Kuwait-Egypt, the subsidiary of National Bank of Kuwait Group (NBK) in Egypt, has reported a net profit of EGP575.6 million ($64.5 million) for last year compared to EGP375.5 million in 2014, an increase of 53.3 per cent year-on-year.

CI: Commercial Bank’s ratings affirmed; outlook revised to ‘negative’ (CPI Financial - 30/03/2016)

Capital Intelligence (CI), the international credit rating agency, announced today that it has affirmed Commercial Bank’s (Cb) Financial Strength Rating (FSR) at ‘A-’. In view of the Bank’s systemic importance, the Support Rating is affirmed at ‘2’.

Qatar International Islamic Bank plans Tier 1 Sukuk issue (CPI Financial - 30/03/2016)

In a statement to Qatar Stock Exchange on 30 March it was revealed that Qatar International Islamic Bank (QIIB) is planning a Sukuk issue of up to QAR 3 billion. The bank’s General Assembly gave the nod to the extension of its approval to issue

Ahli United Bank approves 18 per cent cash dividend (Gulf Daily News - 30/03/2016)

Shareholders of Ahli United Bank (AUB) have approved the distribution of cash dividend of 18 per cent ($4.5 cents per share) together with bonus shares of 5pc (five shares per 100 ordinary shares) for the financial year ended December 31 last year.

QIIB expects final approval for JV Moroccan bank by Q3 (Gulf Times - 30/03/2016)

QIIB is expecting final approval from the Moroccan authorities for its joint venture bank in the kingdom by the third quarter of this year, said CEO Abdulbasit A al-Shaibei. “We have already established the company; the seed capital has been injected.

Qatar’s Ahli Bank to meet investors for potential dollar bond (Gulfnews - 30/03/2016)

Qatar’s Ahli Bank has picked banks to arrange a series of meetings with fixed income investors starting on Thursday for a potential benchmark-sized US dollar bond issue, a document from lead arrangers showed on Tuesday. The bank has picked Barclays, HSBC

KIB 2015 net profit rises 17% to KD 16.1 mln – Assets up 8% to reach (Arab Times - 30/03/2016)

The Kuwait International Bank (KIB) announced a profit of KD 16.10 million for the year ending Dec 31, 2015, which is a 17 percent increase year on year as the 2014 profit was KD 13.70 million. Speaking at the Annual General Meeting held at the bank’s

BBK BD100m bond issue set to open (Gulf Daily News - 29/03/2016)

Bahrain-based BBK has launched a BD100 million ($265.3m) convertible bonds issue to boost its capital ratios. The bonds issue will be open to subscription by shareholders from Sunday to April 18. Chairman Murad Ali Murad told the GDN after the

Bank Nizwa elects new Board of Directors (Oman Daily Observer - 29/03/2016)

Bank Nizwa recently hosted its third Annual General Meeting (AGM) after a milestone year that saw the Bank reach the breakeven point and expand its Financing Portfolio by 99 per cent compared to the previous year. Sayyid Amjad bin Mohammed al Busaidy,

Bank Muscat fetes al Mazyona kids’ savings account winners (Oman Daily Observer - 29/03/2016)

Coinciding with the Mother’s Day, Bank Muscat, the flagship financial services provider in the Sultanate, hosted al Mazyona Children’s Savings Account monthly prize draw at celebrations held in Marah Land amusement park. The two-day family event, which

CBK praised for Kuwait’s financial stability (Arab Times - 29/03/2016)

Drastic fall of crude oil prices has brought to the surface enormous difficulties facing Kuwait economic and financial decision-making authorities. Not only so, the hardships have also revealed the efforts exerted to keep ripples of the international

Al Rayan Bank appoints Ahmed Rawaf as head of premier/private banking (Gulf Times - 28/03/2016)

London-based Al Rayan Bank, a subsidiary of Masraf Al Rayan, has appointed Ahmed Rawaf as head of premier/private banking. Rawaf is based in Al Rayan Bank’s flagship Knightsbridge branch, the hub from where the bank provides exclusive private and premier

Al Hamra, ADCB deal to provide mortgage facilities (Gulfnews - 28/03/2016)

Al Hamra Real Estate Development, a property developer in Ras Al Khaimah, announced it has signed a deal with Abu Dhabi Commercial Bank (ADCB) to provide mortgage facilities for its projects. As per the agreement, ADCB will offer mortgage provision for

Central Bank of Oman approves Bank Muscat request to open Tehran branc (Gulfnews - 28/03/2016)

The Central Bank of Oman (CBO) has approved the request from Bank Muscat, Oman’s largest lender by market value, to open a representative office in Iran. The move comes after a meeting held by the CBO board members on Sunday. The approval makes Bank

ABK posts KD 87.3 mln operating profits for 2015 (Arab Times - 28/03/2016)

Al Ahli Bank of Kuwait (ABK) today announced Operating Profits of KD 87.3 million for 2015, up 5.8 percent from last year. Operating Income also saw a 9.3 percent jump to KD 128.5 million, while net loans and advances to customers increased by 25.8

Alinma reaches out to universities for young Saudi talents (Saudi Gazette - 28/03/2016)

ALINMA Bank recently participated in the tenth annual Career Day at the University of Business and Technology in Jeddah, where bank staff shared job and training opportunity information with prospective candidates from the university. Alinma’s

BisB to issue bonus shares (Gulf Daily News - 27/03/2016)

Bahrain Islamic Bank (BisB) shareholders have approved the distribution of four bonus shares against existing 100 shares. The bank held its ordinary and extraordinary general assembly meetings and approved all the items of the agenda. They approved the

Bank Sohar participates in GCC Traffic Week (Oman Daily Observer - 27/03/2016)

In line with the Government’s focus on Road Safety and their emphasis given to lowering the death toll on Oman’s roads, Bank Sohar has recently participated in the GCC Traffic Week events in Buraimi and Al Batinah North. Both events, following the theme

Bank Muscat’s real estate fund acquires project in Azaiba (Times of Oman - 27/03/2016)

Izdihar, Bank Muscat’s real estate fund, has announced its first acquisition of a new mixed-use property at Azaiba. A ceremony was held to mark the formalisation of the transaction between the bank and Al Habib & Company, in the presence of Abdul Razak

QIB renovates four branches (The Peninsula - 27/03/2016)

Qatar Islamic Bank (QIB), Qatar’s leading Islamic bank, has announced the modernisation of its four branches: Al Fanar, Salwa Road, Al Rayyan and Al Khor, all located in the heart of Qatar’s most popular communities’ areas. The four branches reflect a

Ahli buys Greek lender Piraeus' Egyptian unit (Trade Arabia - 27/03/2016)

Al Ahli Bank of Kuwait (ABK) said it has signed a deal with Piraeus Bank, one of the largest private lenders in Greece, to acquire 98.5 per cent of its Egyptian unit as part of its regional expansion strategy. This marks the completion of the

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