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29 January 11:42 AM

Banking and Finance

ENBD REIT called for an EGM on 12 February
34 minutes ago ENBD REIT’s posts $246m NAV in Q3-19
UAE – Mubasher: ENBD REIT registered a net asset value (NAV) of $246 million or $0.98 per share during the third quarter of 2019, compared to $254 million cum-dividend in the second quarter of 2019. The UAE-based Shari'a compliant real estate …
Companies Investments
The facilities will finance the subsidiary’s activities
2 hours ago United Real Estate’s unit inks KWD 43m loan deal
Mubasher: United Real Estate said that its subsidiary, United Building Co, has penned a credit facilities agreement with a local bank at a value of KWD 42.97 million in cash and noncash. The credit facilities will be used to finance the …
Companies Investments
Current account dropped to SAR 59.6bn in 2019
28 January 09:58 PM Saudi general reserve levels down by 4% YoY in 2019
Riyadh – Mubasher: Saudi Arabia’s general reserve declined by 4% year-on-year to SAR 469.6 billion in 2019, according to data from the Saudi Arabian Monetary Authority (SAMA). On a monthly basis, the general reserve went down by 4.3% YoY in …
Macroeconomics
Remittances grew by 2.2% YoY in December
28 January 09:35 PM Expats’ remittances in Saudi Arabia shrink to SAR 125.53bn in 2019
By: El Sayed Gamal Riyadh – Mubasher: Remittances by expatriates in Saudi Arabia declined by 8% year-on-year to SAR 125.53 billion ($33.47 billion) in 2019. In December 2019, remittances grew by 2.2% YoY to SAR 11.56 billion ($3.08 billion), …
Banking and Finance
An EBE branch
28 January 07:07 PM CI Ratings affirms EBE’s ratings; Outlook stable
Cairo – Mubasher: Capital Intelligence Ratings (CI Ratings) has affirmed the long-term foreign currency rating of Export Development Bank of Egypt (EBE) at ‘B+’. The rating agency also affirmed the bank’s short-term foreign currency rating at ‘B’, …
Banking and Finance
The programme will stimulate SMEs in Egypt
28 January 05:53 PM World Bank Group launches initiative for SMEs in MENA
Cairo – Mubasher: The World Bank Group (WBG) has launched a new phase of a finance programme for small and medium-size enterprises (SMEs), the Middle East News Agency reported on Tuesday. The new programme is expected to create sustainable jobs …
Banking and Finance
Financing income increased to KWD 931.6 million
28 January 05:26 PM KFH’s provisions rise to KWD 647.6m in 2019
Mubasher: Kuwait Finance House’s (KFH) sustainable profits accounted for 97% of the total profits recorded in 2019, compared to 92% in 2018, the group’s CEO Mazin Al-Nahedh said. The bank’s total provisions amounted to KWD 647.6 million at the end …
Banking and Finance
Depositors’ accounts rose by 15% annually in 2019
28 January 05:03 PM KFH targets KWD 100m exits in 2020 - CEO
Mubasher: Kuwait Finance House (KFH) is projected to exit non-strategic assets worth KWD 100 million during 2020, the CEO, Mazin Saad Ali Al Nahedh, disclosed on Tuesday. he highlighted that total exits in 2019 amounted to KWD 137 million …
Banking and Finance
The facilities will finance Kamco's existing and future activities
28 January 04:28 PM Kamco extends credit facility deal with local bank
Mubasher: Kamco Investment Company has renewed its agreement on credit facilities granted by a local bank and raised the credit line by KWD 5 million.    The credit facilities will be used to finance the company’s current and future activities, …
Banking and Finance
CIAF Leasing will be the issuer of sukuk worth $50 million
28 January 02:28 PM CIAF Leasing, Talaat Moustafa to issue sukuk in 3 months
By: Fahd Omran Cairo – Mubasher: The Egyptian aircraft leasing company CIAF Leasing will issue the first corporate sukuk in February, head of the central department for corporate finance at the Financial Regulatory Authority (FRA), Sayed Abdel …
Banking and Finance
The bonds will be matured on 28 April 2020
28 January 10:04 AM Kuwait C. bank sells KWD 200m bonds; oversubscribed 13.8 times
Mubasher: The Central Bank of Kuwait (CBK) on Tuesday issued bonds and related tawarruq worth KWD 200 million, with a 2.75% rate of return. The issue was oversubscribed by 13.79 times, while the subscription demand recorded KWD 2.76 billion, …
Central Banks
Burgan Bank expects the deal to improve the quality of its assets
28 January 09:51 AM Burgan Bank gets approval for selling stake in Bank of Baghdad
Mubasher: The Central Bank of Iraq (CBI) has approved the sale of Burgan Bank’s 51.8% stake in Bank of Baghdad to United Gulf Holding Company (UGH), a sister company of the Kuwait-based bank and another subsidiary of the Kuwait Projects Holding …
Banking and Finance
he proposed dividends represent 38% of the paid-up capital
27 January 05:48 PM ADCB proposes AED 2.64bn cash dividend in 2019
Abu Dhabi – Mubasher: The board of Abu Dhabi Commercial Bank (ADCB) has recommended paying a cash dividend of AED 2.64 billion or AED 0.38 dividend per share for fiscal year 2019. The proposed dividends represent 38% of the paid-up capital, …
Board of Directors
The issuance will be used to finance the country’s budget deficit
27 January 12:38 PM CBE offers EGP 6.75bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 6.75 billion on Monday on behalf of the Ministry of Finance. The first tranche amounts to EGP 3.75 billion and will be offered through five-year notes, …
The bank also plans to increase its capital to EGP 5 billion
27 January 12:25 PM Al Baraka Bank – Egypt eyes EGP 3.3bn funding to national projects by 2023
Cairo – Mubasher: Al Baraka Bank – Egypt is looking to contribute EGP 3.3 billion to syndicated loans to be directed to national projects, bringing the total value of its contributions to EGP 5 billion by 2023. The bank also plans to increase its …
Corporate Actions
Net profits registered KWD 60.53 million in Q4-19
27 January 12:23 PM KFH logs 10.4% higher annual profits in 2019; dividends approved
Mubasher: The financial statements of Kuwait Finance House (KFH) revealed a net profit attributable to the owners of the parent company worth KWD 251.02 million ($828.32 million) over the fiscal year ended 31 December 2019, up by 10.4% …
Financial Results
ADCB's earnings per share (EPS) recorded AED 0.70 in 2019
27 January 12:22 PM ADCB’s net profits down 14% in 2019
Abu Dhabi – Mubasher: The net profits of Abu Dhabi Commercial Bank (ADCB) decreased by 16% to AED 1.05 billion during the fourth quarter of 2019 from AED 1.24 billion in the same period of 2018, according to the bank’s full-year financial results …
Banking and Finance
The funding round was led by BIAC
27 January 11:57 AM Saee raises $2.4m in funding round
Riyadh – Mubasher: Saudi startup Saee announced the completion of a SAR 9 million ($2.4 million) Series A round of funding to fuel local expansion. The round was led by the Saudi Business Incubators and Accelerators Company (BIAC), TasHeel …
Companies Investments
The North African nation’s commodity imports went down by $693.8 million
27 January 11:34 AM Egypt’s foreign trade drops $358m in Q1-19/20
By: Abdullah Bedeir Cairo – Mubasher: Trade exchange between Egypt and its foreign partners declined by $358.2 million year-on-year to $23 billion during the first quarter of fiscal year 2019/2020, compared to $23.4 billion. The drop in the …
Macroeconomics
Financing and investing receivables increased by 4% in 2019
27 January 11:25 AM Emirates Islamic’s net profits surpass AED 1bn in 2019
Dubai – Mubasher: Emirates Islamic, one of the leading Islamic financial institutions in the UAE, posted a 15% year-on-year (YoY) increase in its net profits in 2019, recording AED 1.06 billion, according to the bank’s annual financial results. …
Financial Results
Total government deposits fell by EGP 11.2 billion
27 January 11:17 AM Egyptian banks’ deposits hit EGP 4.18trln end November 2019
Cairo – Mubasher: Total deposits at Egyptian banks hiked by EGP 17 billion to EGP 4.183 trillion at the end of November 2019, compared to EGP 4.166 trillion a month earlier. Total government deposits fell by EGP 11.2 billion month-on-month to EGP …
Banking and Finance
Emirates NBD's Q4 profits decreased to AED 2.02 billion
27 January 11:01 AM Emirates NBD’s net profits up 44% YoY in 2019
Dubai – Mubasher: The net profits of Emirates NBD surged by 44% year-on-year (YoY) to AED 14.5 billion during fiscal year 2019, compared to AED 10.04 billion in 2018, according to the bank’s annual financial results for the period ending on 31 …
Banking and Finance
The North African nation’s current account deficit fell by $629.8 million
27 January 10:56 AM Egypt’s BoP records $227.3m surplus in Q1-19/20
By: Fahd Omran Cairo – Mubasher: Egypt’s balance of payments (BoP) posted an overall surplus of $227.3 million during the first quarter of fiscal year 2019/2020, according to the monthly statistical bulletin of the Central Bank of Egypt (CBE).   …
Banking and Finance
KFH has not made any official acquisition offer to AUB yet
27 January 09:38 AM AUB says no official acquisition offer made by KFH to date
Mubasher: Ahli United Bank (AUB) announced that no significant developments concerning the proposed takeover of the bank of by Kuwait Finance House (KFH) have taken place until the present time.     It further added that no official acquisition …
Mergers and Acquisitions
The two loans will be disbursed over 24 semi-annual payments
26 January 04:08 PM Egypt’s parliament approves EUR 1.016bn loan to buy 1,300 railroad cars
Cairo – Mubasher: The Egyptian parliament approved the presidential decree no. 14 of 2020 regarding a credit facility for the purchase of 1,300 railroad cars, the Middle East News Agency (MENA) reported on Sunday. Valued at EUR 1.016 billion, the …
Macroeconomics