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Banking and Finance

The lender’s earnings hit SAR 382.6 million in Q3-20.
22 October 04:08 PM Bank Albilad reports 17% profit hike in Q3
Riyadh – Mubasher: Bank Albilad posted a 17.1% annual increase in profits over the third quarter (Q3) of 2020, thanks to higher total operating income by 9%. The lender’s earnings hit SAR 382.6 million in Q3-20, compared with SAR 326.6 million in …
The bonds have attracted a quality order book of more than $1.4bn
22 October 03:58 PM CBD issues $600m Additional Tier 1 perpetual bonds
Dubai – Mubasher: Commercial Bank of Dubai (CBD) has issued a $600 million Additional Tier 1 perpetual non-call six-year bonds, according to the bank's disclosure to the Dubai Financial Market (DFM) on Thursday. To be listed on the Euronext Dublin …
The bank’s capital will be raised to $422.74 million
22 October 03:44 PM EGX approves EG Bank's $32m capital raise
Cairo – Mubasher: The Egyptian Exchange’s (EGX) listing committee approved the listing of the capital raise shares of the Egyptian Gulf Bank (EG Bank). The bank’s paid-up and issued capital will be raised by $32.122 million to $422.74 million from …
The bank reported net profits of EGP 4.997 billion in six months
22 October 11:20 AM EGX halts trading on CIB in response to regulator's request
Cairo – Mubasher: The Egyptian Exchange (EGX) has halted trading on the shares of the Commercial International Bank – Egypt (CIB) based on the request of the Financial Regulatory Authority (FRA), according to a statement on Thursday. In September, …
The issuance will be used to finance the country’s budget deficit
22 October 10:37 AM CBE offers EGP 20bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bills (T-bills) worth EGP 20 billion on Thursday on behalf of the Ministry of Finance. The first tranche of the T-bills will be offered through 182-day notes valued at EGP 8.5 …
The Sukuk has a 3.326% annual fixed return rate payable semi-annually.
22 October 10:35 AM ANB offers $750m in Sukuk
Riyadh – Mubasher: Arab National Bank (ANB) announced it has completed offering US dollar-denominated Tier 2 capital Sukuk worth $750 million. The settlement of the Sukuk issue will take place on 28 October 2020, the bank said to the Saudi Stock …
Total deposits grew to EGP 4.77 trillion
21 October 10:48 AM Financial position of banks rises to EGP 6.5trn in July – CBE
Cairo – Mubasher: The total financial position of banks operating in the Egyptian market, except for the Central Bank of Egypt (CBE), increased by EGP 96.9 billion or 1.5% month-on-month (MoM) to EGP 6.5 trillion at the end of last July, compared …
Both of the Sukuk listing price and return will be subject to market conditions.
21 October 10:34 AM ANB starts issuing US dollar-denominated Tier 2 capital Sukuk
Riyadh – Mubasher: Arab National Bank (ANB) has begun issuing US dollar-denominated Tier 2 capital Sukuk by way of an offer to eligible investors in Saudi Arabia and internationally. The offering start date is 21 October 2020 and the end date is …
The volume of issued 200-pound amounted to EGP 435.95 billion
21 October 10:24 AM Issued banknotes in Egypt up EGP 26.2bn in July – CBE
Cairo – Mubasher: The value of issued banknotes in Egypt rose by EGP 26.19 billion or 4% month-on-month (MoM) to EGP 676.629 billion at the end of last July, compared to EGP 650.432 billion, according to the Central Bank of Egypt’s (CBE) monthly …
The bank’s net income declined to AED 6.94bn
21 October 10:08 AM DIB logs AED 3.13bn profits in 9M
Dubai – Mubasher: Dubai Islamic Bank (DIB) registered net profits attributable to the owners of AED 3.13 billion in the first nine months of 2020, down from AED 3.97 billion during the same months in 2019.  The bank’s net income declined to …
The loans financed a total of 12,596 projects
20 October 04:40 PM Mashroak provides EGP 1.805bn loans for youth in Sharqia
Cairo – Mubasher: Egypt’s National Programme for Community, Human, and Local Development (Mashroak) has provided EGP 1.805 billion in loans for the youth, the Middle East News Agency (MENA) reported on Tuesday, citing the Governor of Sharqia, …
Lower net profits are attributed to an AED 101 million increase in provisions
20 October 01:49 PM Sharjah Islamic Bank sees 15% lower profits in 9M
Abu Dhabi – Mubasher: Sharjah Islamic Bank (SIB) recorded AED 353.38 million net profits attributable to the shareholders during the first nine months of 2020, down 14.9% from AED 415.41 million in the corresponding period of 2019. Lower net …
20 October 10:26 AM Emirates Islamic logs AED 311m net losses in 9M
Dubai – Mubasher: Emirates Islamic Bank witnessed net losses of AED 311.24 million in the first nine months of 2020, against net profits of AED 937.18 million in the year-ago period. The bank has incurred losses in the first nine months of 2020 …
20 October 09:53 AM Emirates NBD reports 55% lower profits in 9M
Dubai – Mubasher: The net profits attributable to the equity holders of Emirates NBD declined by 55% to AED 5.64 billion in the first nine months of 2020, compared to AED 12.48 billion in the same period of 2019. Lower net profits are attributed …
The three-month term deposits reached AED 559.25bn in August
19 October 12:56 PM UAE's investors inject AED 15.25bn in short-term deposits in August
UAE - Mubasher: Investors in the UAE have injected AED 15.25 billion in short-term deposits from three to six months in August, according to the Emirates News Agency (WAM). The short-term deposits have attracted many investors seeking to achieve …
The IFAD has invested a total of $392.7 million in Egypt since 1979
19 October 12:44 PM IFAD's cooperation portfolio in Egypt reaches $1.1bn
Cairo – Mubasher: Egypt’s Minister of International Cooperation, Rania El-Mashat, met with Dina Saleh, the Regional Director for the Near East, North Africa and Europe at the International Fund for Agricultural Development (IFAD) of the United …
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19 October 12:18 PM Saudi Agricultural Development Fund approves SAR 2.7bn loans in 9M
Riyadh – Mubasher: Saudi Arabia’s Agricultural Development Fund (ADF) has approved SAR 2.688 billion worth of funding during the first nine months of 2020 through 2,275 loans, state-run Saudi Press Agency (SPA) reported on Monday. This comes as …
Saudi Arabia topped Arab holders of US Treasuries
19 October 12:15 PM Egypt’s holding of US Treasuries hits $2.238bn in August
Cairo – Mubasher: Egypt’s holding of US Treasuries increased to $2.238 billion in August, compared to $2.164 billion in the same month a year earlier, data by the US Department of the Treasury showed. Month-on-month (MoM), the North African …
Enterprises in Cairo topped the list with a funding of EGP 63.4 billion
19 October 11:46 AM Egypt's MSMEs secure EGP 201.7bn funding in over four years
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced that loans and credit facilities provided to micro-, small-, and medium-sized enterprises (MSMEs) increased by EGP 201.7 billion from December 2015 until last June, the Middle East News …
Faisal Islamic Bank of Egypt
19 October 10:59 AM Ithmaar Bank's holding in Faisal Islamic Bank stands at 14%
Cairo – Mubasher: Faisal Islamic Bank of Egypt said that the Central Bank of Egypt (CBE) approved the acquisition of the shares of Faysal Investment Bank of Bahrain by Ithmaar Bank. With this transaction, Ithmaar Bank’s holding in Faisal Islamic …
State-run banks are the top purchasers of the government debt instruments
19 October 10:42 AM CBE offers EGP 11.5bn T-bonds on Monday
Cairo – Mubasher: The Central Bank of Egypt (CBE) will offer treasury bonds (T-bonds) worth EGP 11.5 billion on Monday on behalf of the Ministry of Finance. The first tranche of the T-bonds will be offered through two-year notes valued at EGP 3 …
The Sukuk issue will support the bank’s capital base and fulfill its financial and strategic needs.
19 October 10:18 AM ANB plans issuing US dollar-denominated Tier 2 capital Sukuk
Riyadh – Mubasher: Arab National Bank (ANB) intends to issue US dollar-denominated Tier 2 capital Sukuk by way of an offer to eligible investors in Saudi Arabia and internationally. The lender’s board approved on 22 September 2020 the Sukuk …
Both of the Sukuk listing price and return are subject to market conditions.
19 October 09:34 AM Banque Saudi Fransi starts issuing SAR-denominated Additional Tier 1 Sukuk
Riyadh – Mubasher: Banque Saudi Fransi (BSF) on Monday said it began issuing SAR-denominated Additional Tier 1 Sukuk through a private placement offer. The number and value of any Sukuk to be offered will be determined based on market conditions. …
The project has an invest cost of EGP 1.2 billion
18 October 04:35 PM EIPICO mulls financing methods for biomedicine project
Cairo – Mubasher: The Egyptian International Pharmaceutical Industries (EIPICO) is currently studying the working drawings of its new biomedicine project. In response to news reports stating that the company received four offers from banks for a …
The UAE banks' investment in debt securities rose by 15.8% in August
18 October 12:24 PM UAE banks invest AED 276.8bn in debt securities in August
UAE – Mubasher: The UAE banks have increased their investments in debt securities by 2.3% month-on-month (MoM) or AED 6.3 billion to record around AED 276.8 billion in August 2020, according to the latest data by the Central Bank of the UAE …