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Bank Dhofar board approves OMR40 million rights issue (Times of Oman - 31/07/2016)

Bank Dhofar board has approved a rights issue of OMR40 million at an issue price of 200 baisas per share (consisting of a nominal value of 100 baisas, a premium of 98 baisas, plus issue expenses of 2 baisas). The rights issue is subject to all necessary

Bank Nizwa posts 57pc revenue rise (Oman Daily Observer - 31/07/2016)

The Board of Bank Nizwa reported a 57 per cent rise in its total revenues compared to same period in 2015, while total assets grew by 22 per cent compared to December 2015 reaching RO 421 million. During the period, the bank’s gross financing portfolio

NBAD and FGB results show pace of growth in bank sector has slowed (The National - 28/07/2016)

National Bank of Abu Dhabi (NBAD) and FGB said in their first earnings releases ahead of a planned merger that second- quarter profitability had waned as interest from lending slowed amid weakening economic growth and rising debt defaults. Net income at

NBAD profits fall 8% to Dh2.65b (Gulfnews - 28/07/2016)

The National Bank of Abu Dhabi (NBAD) reported on Wednesday Dh2.65 billion in net profit for the first half of 2016, marking a 7.8 per cent drop from the Dh2.87 billion reported in the same period in 2015. The results put net profit for the second

Bank Muscat highlights unique role in e-payment (Oman Daily Observer - 27/07/2016)

Bank Muscat, the flagship financial services provider in the Sultanate, as part of its ‘Let’s Do More’ vision and commitment to partnership and innovation, extended support to the 4th international conference on e-commerce, which started on Tuesday 26

Burgan Bank honored with four awards (Arab Times - 27/07/2016)

Burgan Bank announced today that it has won four awards from The Asian Banking & Finance Magazine, one of the world’s most distinguished publications that reports on an extensive range of financial news across different practices. The awards presented to

QNB wins ‘Consumer Service Innovation Award’ in London (Gulf Times - 26/07/2016)

QNB has won the “Consumer Service Innovation Award” at the 10th Global Telecoms Business Innovation Awards held recently in London. The award, the bank said, distinguishes QNB for its contribution to mobile financial services and for creating the Mobile

Mashreq’s business units maintain momentum in Qatar (Gulf Times - 26/07/2016)

Leading bank Mashreq has seen its Corporate Finance maintaining its momentum by actively pitching and growing its transaction pipeline. Most notably, Corporate Finance, together with its coverage and treasury and cash management (TCM) partners, closed a

Bank ABC H1 profit rises 5pc to $101m (Trade Arabia - 26/07/2016)

Bank ABC (Arab Banking Corporation) has announced a consolidated group net profit of $101 million for the first half of 2016, a 5 per cent increase compared to a profit of $96 million reported for the same period last year. Net profit for the second

Invest bank records profit of Dhs169m (The Gulf Today - 26/07/2016)

Invest bank posted a net profit of Dhs169 million by the end of the second quarter of 2016 compared with Dhs193 million in the corresponding period last year. The bank registered an operational income of Dhs381 million, while its net operational profits

Sharjah Islamic Bank Q2 profit rises 26% to Dh257m (Emirates 24|7 - 25/07/2016)

Sharjah Islamic Bank (SIB) posted a net profit of Dh257 million for the six month of 2016 compared to Dh204.6 million for the same period last year, an increase of 25.6 per cent. Total assets reached Dh29.8 billion at the end of the second quarter 2016

Bank of Sharjah reports Dh176 million first half net profit (Gulfnews - 25/07/2016)

Bank of Sharjah has reported a net profit of Dh176 million for the first half of 2016 posting flat growth compared to the same period in 2015. During the first six months of the year the bank continued to adopt a very conservative credit policy and

FGB, UAE Exchange ink deal (Khaleej Times - 25/07/2016)

In line with its efforts to provide its customers with unique banking products, FGB, one of the leading banks in the UAE, is launching a new service; a convenient cash solution. As part of its ongoing practice of actively listening to community needs and

Gulf Bank posts 11 pct increase in net profit in H1, 2016 (Arab Times - 25/07/2016)

Gulf Bank today announced a net profit of KD 20.7 million for the first half of 2016, an increase of 11 percent or KD 2 million over the same period last year. Operating profit, excluding general provision expenses improved significantly from KD 32.6

Arab Bank’s diverse business nudges up profit (The National - 24/07/2016)

Jordan-based Arab Bank has announced an increased profit of US$424.9 million for the first half of this year compared with the $422.9m it recorded for the same period last year. The group said results were driven by the bank’s diversified business model

Alinma Bank registers profit (Saudi Gazette - 24/07/2016)

Alinma Bank has announced the achievement of a net profit of SAR 409 million during the second quarter of 2016. This represents an improvement over the SAR 365 million net profit earned for the same period of the previous year, an increase of 12 percent.

Doha Bank achieves strong performance ratios (The Peninsula - 21/07/2016)

Doha bank recorded a net profit of QR708m for the first half of 2016. The bank’s total assets increased by QR4.6bn, up 5.6 percent to QR87.4bn compared to QR82.7bn recorded a year ago. Net loans & advances increased to QR55.4bn from QR53.1bn reported for

Mashreq reports Dh1.1b first-half profit (Gulfnews - 21/07/2016)

Mashreq on Wednesday reported a first-half net profit of Dh1.1 billion, compared to Dh1.3 billion in the same period last year. Net profit for the first half stood stable compared to the normalised net profit for the first half of 2015 adjusted for the

NBF H1 operating profit jumps 10.1% (Khaleej Times - 21/07/2016)

National Bank of Fujairah's (NBF) half year operating profit for 2016 grew 10.1 per cent, reflecting the strength of the bank's core business. Operating income for the six month period ended June 30, 2016 experienced a growth of 8.5 per cent. Net

Emirates NBD supports Ensan Charity Association (Saudi Gazette - 21/07/2016)

EMIRATES NBD, the leading banking group in the region, announced that it will be sponsoring 50 widows in the Kingdom of Saudi Arabia through Ensan Charity Association’s ‘Kafalat Om Yateem’ program. The bank’s initiative aims at supporting widows in their

QIIB first half net profit rises to QR443mn (Gulf Times - 20/07/2016)

QIIB has posted a first half net profit of QR443mn, up 1.1% on the same period last year. QIIB results were announced by bank chairman and managing director Sheikh Dr Khalid bin Thani bin Abdullah bin Thani al-Thani in Doha yesterday. He said, “These

CBQ misses estimates as Q2 profit slumps 62.9% (Gulfnews - 20/07/2016)

Commercial Bank of Qatar (CBQ), the Gulf Arab state’s third-largest lender by assets, posted a 62.9 per cent slump in second-quarter net attributable profit on Tuesday, missing analysts’ forecasts. The bank earned a net profit attributable to equity

NCB net income up 2% to SR5.1b in H1 (Saudi Gazette - 20/07/2016)

The National Commercial Bank (NCB) announced that net income for the first half 2016 reached SR5,068 million compared to SR4,968 million for the same period of the previous year, an increase of 2%. NCB net profit for the second quarter reached to SR2,438

SABB’s profit rises to SR2.29bn in H1 (Arab News - 20/07/2016)

The Saudi British Bank (SABB) has recorded a net profit of SR2.29 billion for the six months ended June 30, 2016. This is an increase of SR41 million or 1.8 percent compared to SR2.25 billion for the same period in 2015. SABB posted a net profit of

Masraf Al Rayan Q2 net profit up 5.3% (The Peninsula - 19/07/2016)

Masraf Al Rayan has recorded a net profit of QR1.05bn for the first half of 2016, up 5.3 percent from a year ago. The total assets stood at QR88.4bn for the first half, an increase of 8.3 percent compared to QR81.6bn recorded during the same period in

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