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20 January 10:28 AM

Banking & Insurance

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13 January 11:32 AM GCC banks' asset quality expected to see slight decline in 2022
Mubasher: GCC banks' asset quality indicators are expected to record a slight decline in 2022 because of regulatory forbearance measures that have enabled the corporate sector to tackle the coronavirus (COVID-19) repercussions, S&P Global Ratings …
Macroeconomics
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7 December 2021 06:03 PM Gulf banks' outlook seen stable amid regional economic recovery, higher oil prices
Mubasher: Moody's Investors Service expected the outlook for GCC banks to be stable over the coming 12 to 18 months, backed by economic recovery in the region as well as higher oil prices, according to a report on Tuesday. The Gulf lenders’ credit …
Ratings
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30 November 2021 05:49 PM IsDB’s ICIEC signs agreement with Japan's NEXI to boost trade relations
Mubasher: The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) has partnered with Japan-based Nippon Export and Investment Insurance (NEXI), the Export Credit Agency (ECA) of Japan, through a memorandum of …
Companies Investments
Photo Archive
28 November 2021 02:17 PM Kuwait’s C.bank, CMA initiate campaign on crypto assets
Mubasher: The Central Bank of Kuwait (CBK) has collaborated with the Capital Markets Authority (CMA) to launch a joint financial literacy campaign on investing or dealing in crypto assets in the state, according to a press release on Sunday. …
Central Banks
The new finance deal is in line with stc Bahrain’s efforts toward digitalisation
15 November 2021 04:05 PM stc Bahrai inks $186m bullet payment loan with ADIB, MUFG Bank
Mubasher: stc Bahrai, a subsidiary of Saudi Telecom Company (stc), has inked a $186 million five-year bullet payment loan with Abu Dhabi Islamic Bank (ADIB) and MUFG Bank.  The agreement will provide liquidity to stc Bahrain to develop and improve …
Companies Investments
The bank's net operating income rose to BHD 49.579 million
3 November 2021 10:15 AM Al Salam Bank records higher profits in 9M
Mubasher: The net profits attributable to the shareholders of Al Salam Bank hiked to BHD 16.224 million in the first nine months of 2021, compared to BHD 8.073 million in the same period of 2020, as shown by the bank's interims financials for the …
Banking and Finance
GFH will purchase the shares of KHCB through a shares exchange
17 October 2021 11:31 AM GFH announces precondition satisfaction to acquire KHCB
Dubai – Mubasher: GFH Financial Group has announced the satisfaction of preconditions and firm intention to make an offer to acquire up to 100% of the issued and paid-up ordinary shares of  Khaleeji Commercial Bank (KHCB). GFH will purchase the …
Mergers and Acquisitions
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13 September 2021 04:54 PM NBK issues $1bn Senior Unsecured notes; first of kind across CEEMEA
Mubasher: The National Bank of Kuwait (NBK) has issued bonds worth $1 billion, marking the first callable structure for senior unsecured notes, fixed to floating, across the Central and Eastern Europe Middle East and Africa (CEEMEA) region. Final …
Banking and Finance
ITFC approved for its member countries more than $58 billion since 2008
8 September 2021 05:45 PM ITFC supports members with $605m under COVID-19 Response Program
Mubasher: The International Islamic Trade Finance Corporation (ITFC) has provided the member countries with $605 million as financial support under its COVID-19 Response Program, CEO of ITFC, Hani Sonbol, announced. The corporation aimed to help …
Sector Reports
The MTO involved 298.62 million shares at $1.42 apiece
9 August 2021 01:48 PM EGX executes $424m MTO on Blom Bank Egypt's shares
Cairo - Mubasher: The Egyptian Exchange (EGX) announced the execution of a mandatory tender offer (MTO) on the unlisted shares of Blom Bank Egypt.  The MTO involved the trading of 298.62 million shares at a total value of $424.04 million, the EGX …
Mergers and Acquisitions
The subscription period for the MTO has expired on Thursday
5 August 2021 05:48 PM Blom Bank Egypt's shares sold in MTO reach 298.6m
Cairo - Mubasher: The Egyptian Exchange (EGX) said that 298.62 million shares of Blom Bank Egypt's total 300 million shares have been sold in a mandatory tender offer (MTO), according to a statement on Thursday.  The subscription period for the …
Mergers and Acquisitions
The bank's total operating income rose by 7.6% to BHD 54 million
5 August 2021 04:05 PM Al Salam Bank – Bahrain sees 50% higher profits in H1-21
Mubasher: The net profits attributable to the shareholders of Al Salam Bank – Bahrain surged by 50.1% to BHD 10.7 million ($28.3 million) during the first six months of 2021, compared to BHD 7.1 million ($18.8 million) in the same period of 2020. …
Banking and Finance
The report highlights several aspects of the digital readiness of GCC banks
1 August 2021 04:40 PM GCC banks accelerate COVID-19-spurred digitalisation- Markaz
Mubasher: The banks in GCC are expanding their digital footprint to keep up with the digitalisation trend driven by the coronavirus (COVID-19) pandemic, according to a report released by Marmore MENA Intelligence, the research arm of Kuwait …
Banking and Finance
The Bahraini bank offered to acquire Blom Bank Egypt for EGP 22.33 per share
26 July 2021 11:43 AM EGX reveals details of Bank ABC's MTO for Blom Bank Egypt
Cairo - Mubasher: The Egyptian Exchange (EGX) revealed the details of the mandatory tender offer (MTO) submitted by Bahrain's Arab Banking Corporation (Bank ABC) to purchase up to 300 million shares or 100% of Blom Bank Egypt. The Bahraini bank …
Banking and Finance
The offer includes the purchase of up to 300 million shares for EGP 22.33 apiece
18 July 2021 03:47 PM FRA approves Bank ABC's MTO for Blom Bank Egypt
Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) approved the publication of a mandatory tender offer (MTO) submitted by Bahrain's Arab Banking Corporation (Bank ABC) to acquire Blom Bank Egypt.  The offer includes the purchase …
Mergers and Acquisitions
The MTO includes the acquisition of 300 million shares for EGP 22.33 apiece
13 July 2021 04:10 PM FRA considers Bank ABC's MTO for Blom Bank Egypt
Cairo - Mubasher: The Egyptian Financial Regulatory Authority (FRA) said that Bahrain's Arab Banking Corporation (Bank ABC) submitted a draft mandatory tender offering (MTO) to acquire 300 million shares or 100% of the issued capital of Blom Bank …
Mergers and Acquisitions
The offer is subject to the approval of all necessary regulatory
8 July 2021 02:04 PM GFH in talks with Khaleeji Commercial Bank for voluntary takeover offer
Dubai – Mubasher: GFH Financial Group is still in talks with Khaleeji Commercial Bank (KHCB) regarding a potential voluntary takeover offer for the bank's issued shares. The offer is subject to the approval of all necessary regulatory, board, and …
Companies Investments
Majority of GCC consumers likely to opt for digital banking services
6 July 2021 05:22 PM Majority of GCC consumers likely to opt for digital banking services
Mubasher: The majority of GCC consumers, about 85% of respondents to a survey, would currently opt for digital banking services rather than visiting a bank branch, according to a paper by Backbase with YouGov. With the appetite accelerating more …
Macroeconomics
Ithmaar Holding and BBK have not agreed on terms and conditions
6 July 2021 11:38 AM Ithmaar Holding's asset sale to BBK cancelled
Mubasher: The sale of certain assets in Bahrain-based Ithmaar Holding to Bank of Bahrain and Kuwait (BBK) has been cancelled, as both parties have not reached amicable terms and conditions. Following preliminary due diligence and discussions, …
Companies Investments
MENA’s ESG market currently represents 1.3% of 2021's global issuance
4 July 2021 02:35 PM Green finance in MENA reaches $6.4bn in H1, exceeds global growth rate
Mubasher: Green and sustainability-linked debt issuances in the MENA region amounted to $6.4 billion in value during the first half (H1) of 2021, exceeding the global growth rate, according to a report by Bloomberg on Sunday. The region’s green …
Sector Reports
The bank's current ownership records 3.5%
28 June 2021 09:57 AM Al Salam Bank obtains CBB’s approval to buy treasury shares
Mubasher: Al Salam Bank – Bahrain has received the approval of the Central Bank of Bahrain (CBB) to purchase treasury shares of up to 5% of the bank’s issued shares.  The bank's current ownership records 3.5%, according to the bank's disclosure to …
Banking and Finance
Ahmed El-Alfi, Chairman of Sawari Ventures
22 June 2021 04:46 PM Startup Lounge: Tech offers great opportunities for success – Interview with Ahmed El-Alfi
By: Moslem Ali Cairo - Mubasher: In the second instalment of our interview with the Founder and Chairman of Sawari Ventures, Ahmed El-Alfi, we discuss the future of technology and the opportunities of startups to succeed as technological …
Companies Investments
The GCC listed bank’s NPL ratio increased to 3.4%
22 June 2021 03:57 PM GCC listed banks’ CAR increases to 19% in 2020 – KPMG
Mubasher: The capital adequacy ratio (CAR) of the listed banks across the Gulf area rose to 18.7% in 2020 from 18.4% in 2019, according to a KPMG report. Net profit meanwhile shrank to $25.4 billion last year, compared to $36.6 billion in 2019. …
Banking and Finance
Ahmed El-Alfi, Chairman of Sawari Ventures
21 June 2021 01:01 PM Startup Lounge: High growth requires taking risks – Interview with Ahmed El-Alfi
By: Moslem Ali Cairo - Mubasher: Today’s guest in the Startup Lounge has played an integral role in developing the entrepreneurial scene in Egypt and the MENA region. He is one of the startup ecosystem leaders and investors who brought real …
Macroeconomics
The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders
17 June 2021 00:37 PM Kuwait's Ahli United Bank lists $600m Sukuk on Nasdaq Dubai
UAE - Mubasher: Nasdaq Dubai has welcomed the listing of a $600 million Sukuk by Ahli United Bank (AUB), a Kuwaiti financial institution. The Tier 1 Capital Certificates has attracted over $ 1.7 billion in orders, according to a press release on …
Sukuk and Islamic Finance