Cairo — Mubasher: Bank Audi is considering presenting a proposal to acquire the branches of the National Bank of Greece (NBG) in Egypt, sources familiar with the matter said. The acquisition is part of the Lebanese lender’s plan to boost its …
Mubasher: Kuwait-based Boubyan Bank on Thursday reported a 17.9% year-on-year growth in profits for the full year 2018. Boubyan Bank’s profits amounted to KWD 56.11 million ($185.5 million) from January to December 2018, up from KWD 47.61 million …
Mubasher: Oula Fuel Marketing has signed a KWD 9.5 million facility agreement with Warba Bank. The new loan will not impact the company’s current financial status, Oula said in a bourse statement, adding that it would disclose any effect resulting …
Mubasher: Saudi Arabia has signed a agreement to provide Tunisia with a loan worth $500 million (TND 1.5 billion). This loan will be used to finance Tunisia’s budget deficit, Tunis Afrique Presse (TAP) reported, citing the Ministry of Finance also …
Cairo – Mubasher: QNB Al Ahli’s board has recommended raising the bank’s issued capital by EGP 979.4 million to EGP 10.77 billion from its current EGP 9.79 billion. The capital hike will be carried out through a bonus share issue at a ratio of 1 …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) on Wednesday announced that it has raised $850 million in sukuk issue, a document issued by one of the banks leading the transaction. The five-year Islamic bonds issue offers buyers 130 basis points …
Abu Dhabi – Mubasher: First Abu Dhabi Investment Saudi Company has requested the Capital Markets Authority of Saudi Arabia (CMA) approval to change its name. The CMA has approved the Saudi company’s request to change the company's name to “FAB …
Cairo – Mubasher: QNB Al Ahli on Tuesday revealed that its investments in 2018 had reached EGP 39.9 billion ($2.23 billion). Investments in 2018 were divided into financial investments available for sale worth EGP 2.3 billion and investments held …
Mubasher: Salaries for top bankers in the Middle East have been cut by nearly a quarter in 2018 due to an economic slowdown. Senior banking professionals have seen a pay cut ranging between 20% to 25%, while salaries for middle-management bankers …
Riyadh – Mubasher: Saudi Market Company, known as Farm Superstores Co, on Monday announced renewing a SAR 200 million sharia-compliant credit facility with Al Rajhi Bank. The financing’s tenure extends from 14 January until 30 September, according …
By: Eslam Fadl Cairo – Mubasher: The National Bank of Egypt (NBE) has financed small- and medium-sized enterprises (SMEs) with EGP 49.5 billion at the end of December, the bank’s head of SME finance said. The bank plans to boost investments in …
Cairo – Mubasher: Banque Misr on Sunday has said that it financed around 20 transactions at a value of EGP 27.5 billion ($1.5 billion) during the full year of 2018. The Egyptian lender also stated that it was the mandated lead arranger of …
Cairo – Mubasher: The financial indicators of Union National Bank – Egypt (UNBE) have revealed that its profits plunged 29% year-on-year during 2018, to EGP 270.11 million, from EGP 380.01 million in 2017. UNBE’s revenues rose to EGP 3.69 billion …
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 17 billion on Sunday on behalf of the Ministry of Finance (MOF). The first tranche of T-bills will be offered through 91-day notes at EGP 8.5 billion, …
Riyadh – Mubasher: Al Rajhi Bank on Sunday revealed that it has received preliminary approvals from two central banks for the potential merger of one of its wholly-owned subsidiaries with a Malaysian firm. The Saudi-listed bank is looking to merge …
Mubasher: Central Bank of Oman (CBO) has signed an agreement with Iceland’s Creditinfo Group to develop and manage an apt credit registry system. The agreement will see the creation of a credit bureau, according to an official statement. “We are …
Cairo – Mubasher: Egyptian President Abdel Fattah El-Sisi has cancelled a presidential decree on a sale agreement between the Egyptian government and Saudi-based Islamic Development Bank (IDB) that was initiated on 14 January 2013. Under the …
Cairo – Mubasher: The World Bank announced on Tuesday the appointment of a new regional director for Egypt, Yemen, and Djibouti. The new official, Marina Wes, is a Dutch banker and an economist, and the former country director the West Bank and …
By: Islam Fadl Cairo – Mubasher: A group of banks operating in Egypt began to increase the USD-EGP exchange rates on Tuesday following the Central Bank of Egypt's (CBE) announcement regarding the decline in international reserves during December. …
Mubasher: The National Bank of Kuwait’s (NBK) stock is expected to see additional $285 million inflows during the next two months until mid-March, increasing the expected total inflows of Kuwaiti equities to about $500 million, EFG Hermes said. If …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) announced it will refund customers who have been charged with AED 175 ($47.70) on their accounts by mistake. Accordingly, the UAE's largest bank has received complaints from customers on social …
Cairo – Mubasher: Egypt's foreign reserves fell by 4.4% month-on-month or $1.962 billion in December data by the Central Bank of Egypt (CBE) showed. The North African country’s net foreign reserves recorded $42.55 billion at the end of December, …
Dubai – Mubasher: UAE banks’ investments in Saudi Arabia and Egypt totalled AED 87.2 billion ($23.74 billion) by the end of the third quarter of 2018, representing 12.5% of their total non-UAE invested assets of AED 693 billion ($188.70 billion). …
Mubasher: Qatar’s foreign cash reserves surged 31.07% year-on-year in November, marking their ninth monthly rise in a row and their highest level in 28 months or since July 2016. The gulf nation’s foreign reserves jumped to QAR 176.24 billion …
Cairo – Mubasher: The Egyptian pound showed a mixed performance on Monday against foreign currencies at national and private banks. National Bank of Kuwait – Egypt (NBK) offered the highest US dollar rate at EGP 17.9 for buying and EGP 17.98 for …
