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Bank ABC net profit for Q1 down 21pc to $41m (Trade Arabia - 28/04/2016)

Bank ABC (Arab Banking Corporation) today announced that its consolidated group net profit, attributable to the shareholders of the parent, for the first quarter of the year 2016 was $41 million, 21 per cent lower compared to a profit of $52 million

NBF reports Dh150.5m first quarter net profit (Gulfnews - 28/04/2016)

National Bank of Fujairah (NBF) posted a net profit of Dh150.5 million compared to Dh149.5 million in the corresponding period of 2015, depicting a relatively growth of 0.7 per cent year on year. The bank’s operating profit was up 18.5 per cent.

ADCB’s first quarter net profits down 18.4% to Dh1.02b (Gulfnews - 28/04/2016)

Abu Dhabi Commercial Bank (ADCB) on Wednesday reported a net profit of Dh1.02 billion for the first quarter of 2016, down 18.4 per cent compared to Dh1.25 billion reported in the same quarter last year. Operating income during the first 3 months of the

NBAD’s first quarter net profits down 11% to Dh1.27b (Gulfnews - 28/04/2016)

National Bank of Abu Dhabi (NBAD) reported net profits of Dh1.27 billion for the first quarter of 2016, down 11 per cent compared to the first quarter of 2015, reflecting lower investment gains and higher provisions, despite growth in strategic

FGB’s first quarter net profit down 6% to Dh1.33b (Gulfnews - 28/04/2016)

First Gulf Bank (FGB) reported on Wednesday first quarter 2016 group net profit of Dh1.33 billion, down 6 per cent compared to Dh1.42 billion in the first quarter of 2015. “The Group continued to demonstrate resilience in an operating environment marked

Minister of Housing honors Alinma Bank (Saudi Gazette - 28/04/2016)

The Saudi Arabian Minister of Housing Majid bin Abdullah Al-Hugail, recently recognized Alinma Bank for its participation at the four-day Riyadh Real Estate & Urban Development Exhibition (Restatex) at the Riyadh International Convention & Exhibition

QNB investigating alleged data breach (Arab News - 28/04/2016)

Qatar’s largest bank is investigating a security breach that appears to have exposed sensitive personal data for what could be hundreds of customers, including employees of international broadcaster Al-Jazeera and potentially senior government officials.

Global Finance names QIB as world’s Best Islamic Retail Bank (The Peninsula - 27/04/2016)

Qatar Islamic Bank (QIB), Qatar’s leading Islamic bank, was recently recognised by Global Finance as the ‘Best Islamic Retail Bank’ in the world. The award reinforces QIB’s prominent position in international Islamic finance. QIB has also been awarded

Dubai Islamic Bank Q1 net attributable profit rises 7.2 pct (Reuters - 27/04/2016)

Dubai Islamic Bank ( DIB ), the United Arab Emirates' largest sharia-compliant lender, posted a 7.2 percent increase in first-quarter net profit on Wednesday on the back of higher revenue and setting aside less cash for bad debts. The bank made an

Bank Muscat's $500 million Euro bonds oversubscribed (Times of Oman - 27/04/2016)

Bank Muscat, the flagship financial institution in Oman, announced the successful pricing and closure of a 5-year, $500 million bond issuance under its Euro Medium Term Note (EMTN) programme. The deal carries a coupon of 3.75 per cent. “The overwhelming

Barwa Bank AGM approves 10 percent cash dividend (The Peninsula - 27/04/2016)

Shareholders of Barwa Bank ratified all the items on the agenda of its Annual General Meeting (AGM), including the Board’s recommendation to distribute a cash dividend of 10 percent (QR1 per share) to shareholders for the last financial year ended

Indonesian banking delegation visits QIIB HQ (The Peninsula - 27/04/2016)

A delegation from Indonesian Banking Development Institute, accompanied by Indonesia’s ambassador to Qatar Mohammed Bassiri Sidihabiy, visited the QIIB headquarters yesterday. QIIB CEO Abdulbasit Ahmed Al-Shaibei received the delegation. The Indonesian

CBK records net profit of KD 7.8 mln for Q1 (Arab Times - 27/04/2016)

Commercial Bank of Kuwait announced net profit of KD 7.8 million for the first quarter of 2016 up by 22.8 percent compared with KD 6.3 million for Q1 2015. The Bank’s operating profits before provisions reached KD 28.6 million up by 4.4 percent compared

Commercial Bank posts QR274mn net profit in first quarter (Gulf Times - 26/04/2016)

Benefitting from an increasingly diversified economy, Commercial Bank has posted a net profit of QR274mn in the first quarter of this year. Qatar’s premium bank has seen its total assets go up 6.2% to QR123.3bn in March. The net profit is up 177%

QNB wins 2 prestigious awards from Asian Banker Magazine (The Peninsula - 26/04/2016)

QNB has received two prestigious awards: “Best Business Model Execution in the Middle East” and “Best Network Integration in the Middle East” from the Asian Banker Magazine. The awards were received during The Asian Banker’s Middle East & Africa Regional

NBQ first quarter profits flat at Dh102.4 billion (Gulfnews - 26/04/2016)

National Bank of Umm Al Qaiwain (NBQ) reported a net profit of Dh102.4 million in the first quarter of 2016 compared to Dh102.8 million in the same quarter last year. Bank’s operating income for the first quarter at Dh88 million was down 4.9 per cent

Oman’s Bank Muscat may price 5-year benchmark bond on Monday (Gulfnews - 26/04/2016)

Bank Muscat, Oman’s largest lender, has set initial price thoughts for a dollar-denominated bond of benchmark size and five years duration, which it could price as early as Monday, a document from lead arrangers showed. Initial price guidance for the

GIB sells SR2 billion of floating rate notes (Saudi Gazette - 26/04/2016)

Gulf International Bank’s (GIB) latest bond issue met with strong demand as the bank successfully priced its senior unsecured SR2 billion 5-year Floating Rate Notes issuance at a spread of 140 basis points above three-month SAIBOR last April 1. The

Bank Dhofar informs Bank Sohar about merger terms (Times of Oman - 25/04/2016)

BankDhofar on Sunday said it has communicated to Bank Sohar the terms on which it is willing to proceed with a proposed merger. This follows completion of financial and legal due diligence for the merger between the two banks. “Those terms are now being

Fitch affirms QIIB’s rating at ‘A+’ with a stable outlook (Gulf Times - 25/04/2016)

Fitch Ratings has affirmed QIIB’s rating at ‘A+’ with a stable outlook, thus “confirming the bank’s strong financial position and success in adjusting to the market conditions.” On the grounds for QIIB’s “good” ratings, Fitch highlighted the “bank’s

National Bank of Kuwait gets regulatory nod for capital raise (Gulfnews - 25/04/2016)

National Bank of Kuwait said on Sunday it had received approval from the country’s Capital Markets Authority for its proposed capital increase. In March, the bank said the board of directors had agreed to raise the bank’s capital by 6.5 percent through a

Dubai Islamic Bank’s board to meet on April 27 (Gulfnews - 25/04/2016)

Dubai Islamic Bank (DIB) said on Sunday its board of directors will meet on April 27. The board will discuss the results for the first three months to March, the bank said in a statement posted on Dubai Financial Market’s website. The bank’s net profit

ABK receives award from Commerzbank AG – Bank recognized (Arab Times - 25/04/2016)

Al Ahli Bank of Kuwait (ABK) was recently presented the Award for Excellent Quality by Commerzbank AG. ABK was recognized because of its exemplary delivery of commercial payments and financial institution transfers in 2015. Somnath Menon, Chief Operating

Gulf Bank wins ‘Credit Card Product of Year in Mideast’ award (Arab Times - 25/04/2016)

Gulf Bank today announced that it has been awarded the ‘Credit Card Product of the Year in the Middle East’ award from The Asian Banker, one of Asia’s leading consulting companies in financial services research, benchmarking, and intelligence. Gulf Bank

Noor Bank posts net operating profit of Dhs561m (The Gulf Today - 25/04/2016)

Noor Bank on Sunday announced its financial results for the year ending 31 December 2015, with the bank reporting a net operating profit of Dhs561 million. The increase in profitability was fuelled by a 73 per cent surge in fee and commission income and

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