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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… |
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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… |
