Sunday 31 July 2016
 
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NBAD, FGB win approval to set up $175bn bank

Leading Abu Dhabi lenders National Bank of Abu Dhabi (NBAD) and First Gulf Bank (FGB) said its boards of directors have recommended merging the two banks with the deal expected to be completed in the first quarter of 2017. The mer

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Gulf Bank reinforces new electronic cheque clearing system

Customers of Kuwait's Gulf Bank who print their cheques through external vendors have been advised to discontinue the practice at the earliest and only print cheques through authorised vendors. The new advisory comes in line w

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Mashreq CEO of investment unit resigns

Mashreq, Dubai's third-biggest bank by assets, said on Thursday the chief executive of its investment unit, Abdul Kadir Hussain, has resigned. Hussain, who was chief executive of Mashreq Capital and Mashreq's head of asset

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Abraaj acquires minority stake in Turkish bank

The Abraaj Group, a leading investor operating in global growth markets, today announced the acquisition, through one of its funds, of a minority stake in Fibabanka AS, one of the most prominent banks in Turkey. The investment fro

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OAB chooses SmartVista to boost card business

Oman Arab Bank (OAB) has selected BPC Banking Technologies’ SmartVista suite to enhance its payment business. This will enable the bank to meet its objective of having a modern platform to adapt to the changing retail banking market.

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Symantec says Swift heist linked to Philippines attack, Sony hack

Hackers who stole $81 million from Bangladesh's central bank have been linked to an attack on a bank in the Philippines, in addition to the 2014 hack on Sony Pictures, cybersecurity company Symantec Corp said in a blog post on Thursday.

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Emirates NBD wins big at Banker Middle East Awards

Emirates NBD, one of the leading banks in the region, won big at the Banker Middle East Industry Awards with four of the biggest awards of the night: Best Bank – Middle East, Best Bank – UAE, Best Retail Bank – UAE and Best Inv

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IIB posts profit in Q1

International Investment Bank (IIB), a globally focused sharia-compliant investment bank based in Bahrain, posted a net profit attributable to equity holders of $0.24 million for the three month period ended on March 31, compared to a net loss

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Burgan Q1 net falls on forex income plunge

Burgan Bank, the third-largest lender by assets in Kuwait, said its net profit for the first quarter hit KD14.3 million ($47.66 million), down 18.5 per cent owing to less income from foreign exchange. A unit of Kuwait Projects Com

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Customer accounts safe says Qatar National Bank

Qatar National Bank, the Middle East's largest lender by assets, said it had taken immediate steps to ensure customers would not suffer any financial loss after a security breach last week exposed personal data of thousands of clients.

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