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VC Bank swings to quarterly profitVenture Capital Bank (VCBank), a Bahrain-based Islamic lender, has reported a net profit of $20.2 million for the 15-month period ended March 31 when compared to a loss of $58.7 million for the same period in 2011. The Islamic ban More… |
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Palm Utilities’ net profit up 32pcPalm Utilities, a Dubai World company, said its net profit surged 32 per cent in 2012 to hit Dh164 million ($44.6 million) compared to Dh125 million the previous year. Announcing the results, Palm Utilities said its revenue too po More… |
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NBAD raises convertible bond issue to $465mNational Bank of Abu Dhabi (NBAD), the UAE's largest lender by market value, has increased its convertible bond offering to $465 million following high demand from investors for a rare convertible from the Gulf region. The ban More… |
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EFG Hermes Q1 net profit up 27pcEFG Hermes, a leading investment bank in the Arab world, said its net profit for the first quarter surged 27 per cent to EGP98 million ($13.9 million) when compared to the same period last year. The group revenues rose 14 per cent More… |
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BLME eyes 15pc asset growth, stronger Gulf tiesThe Bank of London and The Middle East (BLME), Britain's largest standalone Islamic bank, is targeting 15 per cent growth in assets this year, with plans for a Dubai office to help boost its capital markets and wealth management offerings. More… |
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SIA profits drop in contest from Gulf carriersSingapore Airlines (SIA) reported weaker-than-expected full-year results and warned of a deteriorating environment as it struggles to cope with the rapid emergence of Gulf carriers and low cost Asian rivals. SIA is attempting a bi More… |
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ABC Islamic Bank net profit doublesABC Islamic Bank, a subsidiary of Bahrain-based Arab Banking Corporation, has announced a net profit of $3.2 million for the first quarter compared to $1.6 million last year. The Islamic lender's total operating income for the More… |
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Ithmaar swings to $1.4m Q1 profitBahrain-based Ithmaar Bank said it has returned to the black with a net profit of BD540,000 ($1.4 million) for the first quarter compared to a loss of BD170,000 in the same period last year. The Islamic lender pointed out that its More… |
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TMG first-quarter net profit falls 19.8pcEgyptian property developer Talaat Moustafa Group (TMG) said net profit in the first quarter of 2013 fell 19.8 percent to 139.4 million Egyptian pounds ($20 million). TMG's profit for the first quarter of 2012 was 173.7 millio More… |
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Telecom Egypt Q1 result beats forecastTelecom Egypt (TE) reported first-quarter revenue of 2.72 billion Egyptian pounds ($390.1 million), up 1.4 percent from the same period last year and beating an average forecast of 2.59 billion ba More… |
