Statement by First Gulf Bank on Dubai World exposure
(Business Intelligence
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30/11/2009)
First Gulf Banks CEO, André Sayegh, issued a statement Sunday saying that the recent press reports regarding the banks exposure to Dubai World are completely unfounded. “First Gulf Bank wishes to confirm that no senior executive released any statement
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NBAD has $345 million exposure to Dubai World units
(Reuters
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30/11/2009)
National Bank of Abu Dhabi PJSC on Monday said its exposure to two Dubai World affiliates amounts to $345 million, in the first such disclosure by a major regional lender. NBAD, the largest lender by market value in the United Arab Emirates, said it
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Capital Intelligence issues ratings to Emirates NBD
(CPIFINANCIAL
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29/11/2009)
Capital Intelligence (CI) has issued Emirates NBD (ENBD) foreign currency ratings of A+ long-term, A1 short-term and a financial strength rating of A with a support of 1. All ratings carry a stable outlook. At the same time CI has withdrawn the ratings
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Shamil to launch month-long promotion
(Trade Arabia
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29/11/2009)
Shamil Bank, a leading Bahrain-based Islamic commercial bank and a wholly-owned subsidiary of Ithmaar Bank, has tied up with one of the Kingdom’s largest business groups, the Jawad Group, to launch a month-long promotion. The promotion, which will allow
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S&P Puts Four Dubai Banks Under Creditwatch
(Khaleej Times
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28/11/2009)
Standard & Poor’s placed four Dubai-based banks on creditwatch late Thursday, shortly after cutting the debt ratings for several Dubai government-owned and related companies, saying the restructuring of Dubai World raises financing concerns for the banks
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Abu Dhabi banks have big Dubai exposure
(Reuters
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28/11/2009)
Abu Dhabi Commercial Bank has at least 8bn to 9bn dirhams ($2.18bn-$2.45bn) exposure to Dubai World and related entities, which will require the bank to book more provisions, an senior executive of the bank said. “We have to face the stress that will be
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Burgan Bank wins prize at Banking Web Awards
(Al Watan
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26/11/2009)
Burgan Bank has won the prestigious Banking Web Awards Prize in the Commercial and Corporate Category for Kuwait. This was announced in a press release on Wednesday. The prestigious award ceremony was held on Nov. 20, 2009 in Beirut Lebanon at the
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Doha Bank website wins Banking Web Award
(The Peninsula
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25/11/2009)
Doha Bank website was adjudged first prize in Qatar in Retail Banks category by the Banking Web Awards Committee. Sheikh Mohammed bin Hamad Al Thani, Executive Assistant of the management received the award on behalf of the Doha Bank at a function held
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Bankdhofar's 54th branch opens in Raysut
(AME Info
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25/11/2009)
In celebration and honour of the 39th National day, BankDhofar opened the doors to its latest branch addition in Raysut, expanding the banks network to 54 branches across the Sultanate. Extending the Banks products and services, the Raysut branch will
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NBB website named 'best in Bahrain'
(Gulf Daily News
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25/11/2009)
NBB has named as the "Best Retail Bank Website" in Bahrain for 2009. The PAN Arab Web Awards Academy honoured NBB at a ceremony held at the Intercontinental Phoenicia Hotel in Beirut, Lebanon. NBB chairman Abdulla Ali Kanoo congratulated the executive
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First Gulf Bank Prices 3-year $500m Bonds
(Reuters
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25/11/2009)
UAE-based First Gulf Bank’s $500 million three-year bonds were priced at 250 basis points over mid-swaps, representing a coupon of 4 per cent, an executive of the bank said ?on Tuesday. The bonds were issued under FGB’s recently updated $3.5 billion
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Ajman Bank strikes Dhs40m deal with UAE's Bukhatir Investment Group
(AME Info
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25/11/2009)
Ajman Bank, the emirates first Islamic Commercial Bank has granted Bukhatir Investment Ltd Dhs40m in the form of an Ijarah Facility. The financing will be used by the group to invest in their ongoing Industrial projects in Abu-Dhabi and Hamriyah Free
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ADIB names corporate finance chief
(Trade Arabia
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24/11/2009)
Abu Dhabi Islamic Bank (ADIB), one of the leading Islamic banks in the region, has announced the appointment of Amir Riad as global head of its Corporate Finance and Investment Banking. Amir has taken on the role of developing key strategic initiatives
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Emirates NBD completes merger, reveals new brand identity
(Business Intelligence
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24/11/2009)
Emirates NBD yesterday officially announced the conclusion of the merger with the launch of its new brand identity. The new brand has been described as the embodiment of the successful unity of Emirates Bank and National Bank of Dubai (NBD), two of the
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F5R Supports New Banking Era for ANB
(Press Release
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24/11/2009)
F5 Networks, Inc. (NASDAQ: FFIV), the global leader in Application Delivery Networking, today announced that ANB (Arab National Bank), one of the top 10 banks in the Gulf region, has integrated F5’s BIG-IP® Application Delivery Controllers into its Core
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Emirates NBD solidify its long standing support to Dubai Police
(Press Release
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24/11/2009)
Emirates NBD, the largest banking group in the Middle East in terms of assets proudly fulfilled its sponsorship for the Second International Conference Sport Versus Crime, which took place at the Dubai Police Officers Club in the presence of officials
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Moody's assigns ratings to Emirates NBD; ratings on review
(CPIFINANCIAL
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24/11/2009)
Moodys Investors Service has assigned ratings to Emirates NBD, which has been created following the legal merger of Emirates Bank International and National Bank of Dubai. Moodys has assigned the following ratings to Emirates NBD: - C- bank financial
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Ahli Bank implements Fast Track - retail lending tracking system
(AME Info
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24/11/2009)
Ahli Bank, one of the Sultanates premier financial entities, has recently implemented Fast Track - The retail lending tracking system in an effort to further enhance its commitment to customers and improve the banks efficiency in processing and
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First batch completes intensive training at Doha Bank
(The Peninsula
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24/11/2009)
The first batch of the Doha Bank staff that completed the Intensive Training and Certification Programme successfully was awarded with certificates recently by CEO of the Bank R Seetharaman, Head of Retail Banking, Louis A Scotto and Head of Human
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KFH Turkish unit gets UAE licence
(Reuters
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24/11/2009)
Kuwait Finance House, the countrys biggest Islamic lender, said on Monday its Turkish unit has obtained a licence to operate in the United Arab Emirates. The new bank, the Kuwait Turkish Participation Bank, will operate in the Dubai International
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Local banks achieve net profit $1.3 billion
(Al Watan
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23/11/2009)
Despite deteriorated global economic conditions, local banks achieved net profits estimated at 361 million Kuwaiti dinars (1.3 billion US dollars) within the first nine months of 2009. That figure was less the one scored last year; however, it was
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KFH facilitate RM337m sukuk issue in Bahrain
(The Malaysian Insider
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23/11/2009)
Kuwait Finance House Bahrain BSC (KFH-Bahrain) has acted as joint lead manager and bookrunner in a US$100 million (RM337 million) sukuk issue for the International Finance Corporation (IFC), the private sector arm of the World Bank group. The five-year
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Van Linder becomes MD of SHB
(Arab News
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23/11/2009)
Bernd van Linder has been appointed Saudi Hollandi Bank’s (SHB’s) managing director by the bank’s board of directors. In an announcement on Sunday, SHB Chairman Mubarak Al-Khafrah said Van Linder, who was working as acting managing director since May
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ENBD faces $350m Saudi exposure
(Business 24|7
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23/11/2009)
Emirates NBD, the Gulfs biggest lender, has exposure of up to $350 million (Dh1.28 billion) to two Saudi conglomerates now restructuring their debt, said the banks chief executive. Rick Pudner said the banks balance sheet and results in the fourth
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Bank to resume MTN programme in Q1 2010
(Business 24|7
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23/11/2009)
Emirates NBD will consider resuming its fund-raising through medium-term notes (MTNs) during the first quarter of 2010 as the appetite for such notes is improving in the international market. Talking to mediapersons on the occasion of the launch of the
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