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Global trends boost Gulf banks as foreign rivals retrenchWhen British banker Michael Tomalin took the top job at National Bank of Abu Dhabi in 1999, the lender had about $9 billion in assets - tiny by global standards - and its operations were largely confined to the o More… |
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New group chief investment officer for NBADNational Bank of Abu Dhabi (NBAD), the UAE’s leading bank, has appointed Claude-Henri Chavanon as the group chief investment officer and head of the investment group of NBAD. More… |
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Gulf banks to arrange $100m loan for IBAInternational Bank of Azerbaijan (IBA) has mandated JP Morgan and three top Gulf banks to arrange a $100 million syndicated loan for funding its Shariah-compliant financing activities in the country. The top Gulf banks involved in More… |
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UK co-op bank halts loans to customersThe co-operative bank has stopped offering loans to new business customers, part of measures designed to quell growing concerns over its capital position. The bank's parent, the Co-operative Group, said yesterday it was undert More… |
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CEO-elect of fraud-hit Rakbank quitsThe proposed new chief executive of National Bank of Ras al-Khaimah (Rakbank), one of two banks which earlier this month were named as victims of a massive global bank card fraud, has quit, two sources within the bank said. Ian La 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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Barclays advises on equities over bondsWith most bonds continuing to trade above their par values, and at levels that leave them very sensitive to changes in interest rate expectations, Barclays strongly favours stocks over bonds, the bank said in a report. Barclays co More… |
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Burgan Q1 net income jumps 16pcBurgan Bank Group, the youngest commercial bank and third largest by assets in Kuwait, said its net income, excluding the KD5 million in provisions charges, soared to KD20.4 million ($72 million) thus registering a 16 per cent year-on-year growt More… |
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SICO posts $2.7m net profitSecurities & Investment Company (SICO) has reported a net profit of BD1.02 million ($2.7 million) for the first quarter of this year, compared to BD1.58 million in the same period last year. The Bahrain-based regional investme More… |
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Al Baraka Q1 net profit up 15pcBahrain-based Islamic lender Al Baraka Banking Group posted a 15-percent increase in first-quarter net income, the bank said on Sunday. Al Baraka, which has operations across the Middle East, Asia and Africa, said first-quarter ne More… |
