Capital Intelligence reasserts KFH's credit ratings
(KUNA
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25/10/2009)
Capital Intelligence Agency (CI) reasserted Kuwait Finance House (KFH) long-term credit rating at A+ and short-term at A1, which is a sign from a reputable rating agency that KFH is solid and stable, and is moving forward with its strategic expansion
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Global Finance ranks NBK among 10 biggest emerging market banks
(KUNA
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25/10/2009)
The National Bank of Kuwait (NBK) has been rated by Global Finance magazine among the top ten biggest emerging market banks in the Middle East for 2009. NBK, in a press release on Sunday, said that it was the only Kuwaiti bank to be listed among the top
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Kuwait Finance House profit down 46pc
(Trade Arabia
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25/10/2009)
Kuwait Finance House (KFH), the countrys biggest Islamic lender, posted a 46-percent decline in third-quarter net profit on Sunday. Net income in the three months to September 30 fell to 34.3 million dinars ($120.1 million), compared with 63.23 million
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QNB receives award for dollar transfers
(The Peninsula
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25/10/2009)
Qatar National Bank (QNB) was awarded the J P Morgan Quality Recognition Award for the quality of its US Dollar funds transfers in 2008. The award is an acknowledgement of QNB’s ability to consistently deliver best-in-class Straight-Through-Processing
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Doha Bank bags Green Award 2009
(The Peninsula
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25/10/2009)
Doha Bank was conferred the ‘Best Public Awareness Campaign Green Award’ by Qatar Today for its consistent efforts in reaching out to both the public and private sectors on eco-related issues. Head of Retail Banking Louis A Scotto, while receiving the
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SABB bank books $94 million for Q3 loan losses
(Reuters
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25/10/2009)
SABB bank, HSBCs Saudi affiliate, booked 351.5 million Saudi riyals (93.7 million US dollars) in provisions for loan losses during the third quarter, bourse data showed on Saturday. SABB reported a worse-than-expected 19.8 percent drop in third?quarter
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BankMuscat radio programme unveils investment tips
(Oman Daily Observer
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25/10/2009)
BankMuscat has launched a radio programme that offers insightful tips to the world of investment. The initiative by the Asset Management Department (AMD) of the Bank is aimed at educating and raising awareness on investment opportunities. The programme
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Resilient results as BankMuscat posts RO80.4m Q3 net profit
(AME Info
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25/10/2009)
BankMuscat, the leading financial services provider in the Sultanate, yesterday (25 October) announced the financial results, approved by the board of directors, for the nine-month period ending 30 September 2009. The Bank achieved a net profit of
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AUB Q3 profit falls 45pc on provisions
(Reuters
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25/10/2009)
Ahli United Bank (AUB), Bahrains largest lender by market value, posted a 44.9 per cent decline in third-quarter profit due to higher loan provisions. The bank said net profit came in at $43.5 million for the three months to September 30.
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ANB gets Fitch stable outlook
(Reuters
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24/10/2009)
Fitch Ratings has affirmed Saudi Arabia-based Arab National Banks (ANB) long-term Issuer Default rating (IDR) at A with stable outlook. The ratings agency also affirmed the banks short-term IDR at F1, individual rating at B/C, support rating at 1 and
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SABB books $94m Q3 loan losses
(Reuters
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24/10/2009)
SABB bank, HSBCs Saudi affiliate, booked SR351.5 million ($93.7 million) in provisions for loan losses during the third quarter, bourse data showed on Saturday. SABB has reported a worse than expected 19.8 percent drop in third-quarter net profit, hit by
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Emirates Islamic Bank Opens Nad Al Hamar Branch
(Khaleej Times
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24/10/2009)
Emirates Islamic Bank announced on Thursday the inauguration of a new branch at Nad Al Hamr Dubai. The new branch opening was opened by Shaikh Majid bin Mohammed bin Rashid Al Maktoum, Chairman of Dubai Culture and Arts Authority. Emirates Islamic Bank’s
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Dubai Islamic Bank Q3 profit plunges 31pc
(Trade Arabia
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24/10/2009)
Dubai Islamic Bank (DIB)s third-quarter net profit fell 30.9 per cent to Dh296.75 million ($80.78 million) when compared to a year earlier, while its total assets as of September 30, 2009, stood at Dh82.9 billion. A leading Islamic bank, DIB said its
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First Gulf Bank Q3 up 9% on core activities
(Reuters
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22/10/2009)
First Gulf Bank yesterday posted a net profit of 930 million UAE dirhams ($253.2 million) in the third quarter, up 9 percent on the year, driven by its core businesses and beating analyst forecasts. The bank reported a net profit of 850.12 million
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UNB Profits Down by 32 Per Cent
(Khaleej Times
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22/10/2009)
Fair value losses on investments in properties has pushed down the profits of the Union National Bank, or UNB, by 32 per cent in the first nine months of this year, compared to the corresponding period last year. The bank recorded a consolidated profit
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Emirates NBD Started With ‘Overweight’ at JPMorgan on Valuation
(Bloomberg
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22/10/2009)
Emirates NBD PJSC, the United Arab Emirates’ biggest bank by assets, was initiated with an “overweight” recommendation and a price target of 6.25 dirhams at JPMorgan Chase & Co. “Emirates NBD’s valuation discount in the current market scenario looks
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Doha Bank maintains best return on average equity
(Gulf Times
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22/10/2009)
Doha Bank has maintained the industry’s best return on average equity (ROAE) at 23.2% in the nine-month period up to September, which indicates it has given ‘decent returns’ to investors. Another highlight of Qatar’s premier bank’s nine-month performance
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Doha Islamic plans three more units
(Gulf Times
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22/10/2009)
Doha Islamic plans to open three more branches in Qatar in view of the growing demand for Shariah-based banking products and services. Doha Islamic is the Shariah-based arm of Doha Bank. Doha Bank Group chief executive R Seetharaman said the number of
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NBK projects hefty profits for 2009
(KUNA
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22/10/2009)
National Bank of Kuwaits (NBK) CEO Essam Al-Saqr expected on Wednesday that the banks profits for the current year will surpass those of last year despite the impact of the global economic crisis on market conditions locally. The bank announced on
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Doha Bank's gains slide 19 per cent
(Gulf Daily News
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21/10/2009)
Doha Bank, Qatars fourth-largest by market value, posted a 19 per cent drop in third-quarter net profit, in line with expectations, as loan loss provisions weighed. The banks third-quarter net profit stood at 205 million Qatari riyals ($56.32m), down
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NBK registers net profit of $706m
(Gulf Daily News
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21/10/2009)
A $66 million compensation payment to victims of US swindler Bernard Madoff and other one-off charges dented nine-month net profit at National Bank of Kuwait, the countrys biggest bank yesterday said. NBK reported a net profit of 201.5m Kuwaiti dinars
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Doha Bank profit falls 19%
(Gulf Times
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21/10/2009)
Doha Bank’s third quarter net profit fell 19% to QR204.8mn from QR254.7mn in the same period last year, DB’s income statement shows. The bank made a nine month net profit of QR850.8mn, up 2% on QR833.8mn on the same period in 2008. The operating income
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Ahli Bank reports QR213.3m profits
(The Peninsula
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21/10/2009)
Ahli Bank QSC reported a net profit of QR213.3m for the nine months ending September 30, 2009. After excluding exceptional gains on available for sale investments and dividends of QR74.2m during same period last year, the bank posted this year QR12.6m
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NBK achieves $703m net profits
(The Peninsula
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21/10/2009)
National Bank of Kuwait (NBK), the largest Kuwaiti bank and the highest-rated bank in the Middle East by Moody’s, FitchRatings and S&P, reported net profits of $703m (KD201.5m) for the first nine months of 2009. NBK achieved $263m for the third quarter
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BKME’s nine-month net profit touches KD 15.1 mln
(Arab Times
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21/10/2009)
Bank of Kuwait and Middle East (BKME), one of the leading banks in Kuwait, reported net profits of KD 15.1 million for the first nine months of the fiscal year 2009. These results were the outcome of the operating income from pure banking operations of
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