Worries about rising interest rates and falling stock prices hit US consumer sentiment in early July, while other data showed a firm rise in wholesale prices that could make the US Federal Reserve more comfortable reducing its monetary stimulus.
The Saudi Arabian banks are likely to register a lower profit growth this year owing to increasing competition and reduced income from brokerage, according to a report.
The pressure on these banks' net interest margin (NIM) wi
Doha Bank, a leading private bank in Qatar, has launched its new retail mortgage loans portfolio which now features a competitive interest rate of 3.99 per cent.
The bank will provide loans of up to 70 per cent of property value f
Bank of Bahrain and Kuwait (BBK) said its net profit for the first nine months rose 18.2 per cent from the same period last year to BD32.1 million ($83.4 million).
"BBK's fundamental strengths, along with its clear strate
Spain's medium-term borrowing costs spiralled to a euro-era record at an auction on Thursday, hours before an independent audit was due to reveal how big a capital hole in Spanish banks needs to be filled by a euro zone bailout.
Bahrain’s government pays BD90 million ($238.7 million) every year as interest on loans and the figure is set to increase in coming years, said the Finance Ministry.
A report from the Ministry added that the government deduc
Omani customers have expressed a strong appetite for Islamic Finance with a rapid take-up of banking products expected within the first 12 months of being launched, key findings published from Oman’s first independent market study showed.
RAKBank, also known as the National Bank of Ras Al-Khaimah, has launched a new mortgage offer that provides property buyers with added flexibility as well as interest rates from as little as 5.5 per cent.
Available for a limited period, th
Commercial Bank International (CBI), one of the leading banks in the UAE, has unveiled a new promotion offering personal loans with an interest rate of 6.75 per cent per annum.
As part of the promotion, customers will enjoy zero processing