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Bank ABC wins global award for rebranding
(Gulf Daily News - 31/05/2016)

Bahrain-based Bank ABC has won an award at the International Transform Awards Mena 2016 held in Dubai. The bank which carried out a comprehensive rebranding exercise in 2015 won the Silver prize for “Best Visual Identity” in the financial services sector

QNB ‘cautiously optimistic’ on GCC equities
(The Peninsula - 31/05/2016)

QNB, the region’s largest lender, said yesterday it was cautiously optimistic about the short term investment outlook in the GCC capital markets following the recent changes in macro environment. QNB’s outlook for GCC equities is ‘positive to neutral’ .

Doha Bank CEO bags 'Green Economy Visionary Award'
(Khaleej Times - 31/05/2016)

The 2016 Union of Arab Banks, or UAB International Banking Summit honoured Dr R. Seetharaman, CEO of Doha Bank with the 'Green Economy Visionary Award' on Monday in Rome. He received the award from Mohammed Jarrah Al Sabah, chairman, Union of Arab Banks,

Qatar National Bank says closes syndication of 2.25b-euro 3-year loan
(Gulfnews - 30/05/2016)

Qatar National Bank/s (QNB) has closed the syndication of a 2.25 billion euro (Dh9.21 billion, $2.50 billion), three-year loan, it said on Sunday. The loan facility, in which 14 banks participated, was increased from 1.5 billion euros due to “strong

Trading of DIB rights issue between May 30 and June 13
(Gulfnews - 30/05/2016)

Dubai Financial Market (DFM) said on Sunday that the rights issue of Dubai Islamic Bank is due to be tradable on the exchange between May 30 until June 13. The opening price of the rights issue has been set at Dh1.98 based on the company’s adjusted share

Noor Bank issues $500m sukuk
(The Gulf Today - 30/05/2016)

Noor Bank has successfully priced its debut perpetual $500 million Tier 1 capital issuance.In the midst of multiple regional issuers on the road looking to raise capital market funding, Noor Bank was able to print its inaugural AT1 Sukuk at a very

QNB ‘successfully closes’ syndication of €2.25bn,3-year senior Euro te
(Gulf Times - 29/05/2016)

QNB has “successfully closed” syndication of its three-year €2.25bn senior unsecured Euro term loan facility, the leading financial institution in the Middle East and Africa region said yesterday. The facility was upsized from €1.5bn due to strong market

Sharjah Islamic Bank repays $400 million sukuk
(The Gulf Today - 29/05/2016)

Sharjah Islamic Bank (SIB), a leading shariah compliant commercial bank in the UAE, has successfully repaid a $400 million sukuk. The Sukuk had been raised in May 2011 under challenging market circumstances. The funds raised under the sukuk were used for

Bank Sohar sponsors GCC new age banking summit
(Oman Daily Observer - 26/05/2016)

As part of its commitment towards supporting the development of the local economy and the Banking industry as a whole in the country, Bank Sohar recently sponsored the GCC New Age Banking Summit. The Summit, which was organised by UMS Conferences and

FGB, LBC Express tie-up for cargo services
(Khaleej Times - 26/05/2016)

LBC Express, Philippines' leading courier and cargo solutions provider, has partnered with FGB, one of the UAE's leading financial institutions, to offer its customers an instalment payment scheme at zero per cent interest for cargo services. This

Gulf banks report more loan defaults as oil slump plays out
(Arab News - 26/05/2016)

More than two-thirds of Gulf banks reported an increase in unpaid loans in the first three months of the year and more defaults are likely as oil-dependent governments slash spending to adjust to lower crude prices. After several years in which banks’

NBK - Egypt reports $20.96m Q1 profit
(Trade Arabia - 25/05/2016)

National Bank of Kuwait-Egypt (NBK-E) reported net profits of EGP186.6 million ($20.96 million) for the first quarter of 2016 compared with EGP126.3 million for the same period in 2015, growing at 47.7 per cent year-on-year. Total assets as of end-March

Dubai's Noor Bank launches $500m sukuk at 6.25%
(Emirates 24|7 - 25/05/2016)

Dubai-based Noor Bank has launched a $500 million capital-boosting sukuk issue of five years duration that will price later on Tuesday, a document from lead managers showed. Pricing for the transaction, which has a perpetual tenor and an option for the

Emirates NBD Bank hold lunch banquet in honour of senior shareholder
(Gulfnews - 25/05/2016)

Emirates NBD Bank yesterday held a lunch banquet in honour of its senior shareholders at its main office. The banquet was hosted at the invitation of Shaikh Ahmad Bin Saeed Al Maktoum, board chairman of the bank, who was in attendance. The event was

Warba Bank concludes Ziraat Bank’s finance deal
(Arab Times - 25/05/2016)

Warba Bank announced on Monday that a Sharia-compliant finance deal, worth $155 million, was carried out in favor of Turkey’s Ziraat Bank. Warba Bank’s CEO Shahin Al-Ghanim said in a press statement that the deal was initially valued at $75 million, and

Alinma Bank’s development program supports Saudization
(Saudi Gazette - 23/05/2016)

ALINMA Bank recently celebrated the graduation of a number of staff trainees from the bank’s “Al Qawi Al Ameen” development program. This intensive training initiative targets recent college graduates from bachelor’s and master’s degree programs in

BankDhofar receives OER Top 20 Omani companies award
(Oman Daily Observer - 22/05/2016)

Celebrating its resounding success and highlighting its continuous support of nationwide business initiatives, BankDhofar has been recognised as one of the Sultanate’s most successful companies at the OER Business Summit. The award was received by Abdul

Bank Muscat wins Best Bank in Oman award by WUAB
(Oman Daily Observer - 22/05/2016)

Bank Muscat, the flagship financial services provider in the Sultanate, has won the Best Bank in Oman award by the World Union of Arab Bankers (WUAB). AbdulRazak Ali Issa, Chief Executive, received the prestigious award in recognition of outstanding

Oil prices will average $41 in 2016: QNB report
(The Peninsula - 22/05/2016)

Strong growth in demand and further production cuts from the US should continue to erode the supply glut in global oil markets. The oil prices will average $41/b in 2016, rising to $51/b in 2017, QNB said yesterday. Analysing “What is behind the latest

Gulf banks need to adapt to digital transformation reality
(Saudi Gazette - 22/05/2016)

The GCC’s banking sector has taken a dramatic turn over the past years thanks to the region’s exponential economic development and young, technology savvy population demanding the best digital banking experience. Such a transformation is only expected as

BBB issue rating assigned to Gulf Bank’s KWD 100 million Loan
(Capital Intelligence - 19/05/2016)

Capital Intelligence Ratings (CI Ratings) has assigned a ‘BBB’ issue rating to the KWD 100 million subordinated bond issue by Gulf Bank. The Outlook on the rating is ‘Stable’. Given the subordinated bond’s contractual point of non-viability loss

National Bank of Bahrain's ratings affirmed, Outlook revised to '-tive
(Capital Intelligence - 19/05/2016)

Capital Intelligence Ratings (CI Ratings) has affirmed the National Bank of Bahrain’s (NBB) Long- and Short-Term Foreign Currency Ratings (FCRs) at ‘BBB-’ and ‘A3’, respectively. These ratings are constrained by CI Ratings’ Sovereign Ratings for the

KHCB ‘fastest growing bank’
(Gulf Daily News - 19/05/2016)

Khaleeji Commercial Bank, a Bahraini Islamic bank, has been awarded “the fastest growing bank in Bahrain” accolade by UAE-based CPI Financial Banker Middle East and Africa. The award was granted to the bank due to its strong financial results and the

Emirates NBD gives away Bentley during promotion
(Trade Arabia - 19/05/2016)

Emirates NBD, one of the leading banks in the region, recently gave away the grand prize, a Bentley Mulsanne, along with five Breitling GMT and 125 Breitling Colt watches to the winners of its mega customer promotion. The promotion was aimed at

Trading of Ajman Bank rights issue between May 22 and June 5
(Gulfnews - 19/05/2016)

Dubai Financial Market (DFM) said on Wednesday the rights issue of “Ajman Bank” is due to be tradable on the exchange between May 22 until June 5. The opening price of the rights issue has been set at 39 Fils. Subscription to Ajman Bank new shares will

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