Sunday 26 October 2014
 
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Bank

Bank Audi's nine-month profit up 7.1pc

Lebanese lender Bank Audi's net profit in the first nine months of the year was up 7.1 per cent at $280 million, it said on Thursday. The bank said in a statement that the increase came after the allocation of $71 million of n

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Bahrain banks urged to replace old ATMs

Banks in Bahrain have been urged to stop using outdated ATMs after dozens of card holders had their details stolen in a security breach earlier this month. According to Bahrain Bankers Union (BBU), several local and regional banks

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Falcon Private Bank appoints new head

Falcon Private Bank, a leading Swiss private bank specialised in asset management for high net worth private clients and families, has appointed Erich Pfister as the new global head private banking, which will be effective from January next year

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Awal Bank creditors discuss key issues

Key meetings of creditors of Bahrain-based Awal Bank have been held in Bahrain and London, according to sources. The meetings were called by law firm Charles Russell, acting as external administrator, said the sources to the G

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Lloyds Bank to sell more shares in TSB

Lloyds Banking Group is to sell a further 11.5 per cent stake in TSB Banking Group, leaving it with a 50 per cent shareholding in a business it was ordered to shed by European regulators. Lloyds said it would sell another 57.5 mil

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Standard Chartered appoints new CFO

Standard Chartered Bank Bahrain has appointed Shaikha Tareef as its new chief financial officer (CFO). Tareef will be responsible for the implementation of the bank's overall financial strategy, cost management and ensuring th

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Ithmaar Bank launches user-friendly website

Ithmaar Bank, a Bahrain-based Islamic retail bank, has upgraded its website aimed at an improved user experience. "Navigation is simplified by categorising the product-centric primary menu to match the visitor's profile,&

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Arab Bank never backed Hamas, lawyer tells US jury

Arab Bank never provided material support for the Palestinian group Hamas, a lawyer for the bank told jurors during closing arguments at the bank's civil trial on charges of financing terrorism. The Jordan-based bank is accuse

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Mideast banks buy majority of Goldman Sach’s sukuk

Middle Eastern banks bought the vast majority of a debut $500 million sukuk issue by Goldman Sachs, a positive sign for other conventional banks hoping to tap the region's liquidity by issuing Islamic debt, according to data from lead manage

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IIRA reaffirms ABC Islamic Bank ratings

The Islamic International Rating Agency (IIRA) has reaffirmed the ratings of Bahrain-based ABC Islamic Bank at A+/A-1 on the national scale (long-term and short-term respectively), and A-/A-2 on the international scale with a 'Stable' ou

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