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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… |
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Bahrain banks in e-payment safety vowThe Bahrain Association of Banks (BAB) has announced that it encourages its members whether as issuers, acquirers or processors to implement best practices for detecting and preventing e-payment fraud. The BAB made the statement i More… |
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Prepaid debit cards: Achilles heel in bank securityA brazen gang of cyber criminals, who stole $45 million from bank ATMs in 27 countries, exposes an Achilles heel in the global financial industry: prepaid debit cards. Cyber security experts and industry analysts say the burgeonin More… |
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Rakbank says no money lost in cyber fraudA Middle Eastern bank that fell victim to a major cyber fraud said on Friday that none of its customers had lost any money in a scam which it believed had also caught up lenders in the US and beyond. National Bank of Ras Al Khaima More… |
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EFG plans assets sale as Qatar deal failsEFG Hermes, one of the largest investment banks in the Middle East, plans to cut costs, sell non-core assets, and return cash to shareholders after a planned tie-up with Qatar's QInvest failed on Wednesday. EFG had agreed the More… |
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HSBC Oman unit Q1 net profit up 91pcHSBC Bank Oman, a unit of HSBC and the Sultanate's third-largest by market value, said its first-quarter net profit rose 91 per cent from a year earlier after it benefited from loan recoveries. More… |
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First Gulf Bank Q1 net profit jumps 12pcFirst Gulf Bank (FGB), the second-largest lender in the UAE by market value, posted a 12 per cent increase in first-quarter net profit on Monday but missed the average forecast of analysts. FGB More… |
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RakBank Q1 profit up 13pc, tops $100mRakBank, also known as the National Bank of Ras Al-Khaimah, reported a net profit of Dh367.98 million ($100.16 million) for the first quarter of the year, reflecting a 13 per cent growth over the same period last year. “RakB More… |
