Abu Dhabi - Mubasher: Abu Dhabi Islamic Bank (ADIB), a leading financial institution in the UAE, and the Bahrain-based Islamic multinational banking group Al Baraka Banking Group on Sunday announced the signing of a memorandum of understanding …
Cairo – Mubasher: Faisal Islamic Bank of Egypt announced that its shareholders had approved increasing the company’s authorised capital during an extraordinary general meeting (EGM). The lender’s authorised capital will be raised to $1 billion …
Abu Dhabi – Mubasher: National Bank of Fujairah (NBF), listed on the Abu Dhabi Securities Exchange (ADX), reported a 15.1% year-on-year growth in its net profit for the first half of 2019, recording AED 357.1 million. NBF has achieved an AED 567 …
Riyadh – Mubasher: Bank Albilad’s board of directors has approved distributing 4% cash dividends to shareholders for the first half of 2019. The bank will pay a total of SAR 300 million, or SAR 0.4 per share, for the six-month period ended in …
Dubai – Mubasher: Emirates NBD, a UAE-based leading banking group, announced it is looking to expand its footprint in Saudi Arabia. This major move comes after the bank obtained the Saudi Arabian Monetary Authority’s (SAMA) approval to open 20 …
Riyadh – Mubasher: The board of directors of Al Rajhi Bank decided to distribute 15% cash dividends to the shareholders for the first half of 2019, during the meeting held on Thursday, 18 June. The Saudi lender will pay a total of SAR 3.7 …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB), listed on the Abu Dhabi Securities Exchange (ADX), announced that it has discussed the removal of foreign ownership limit as a proposal during its board meeting. This proposal has been tackled for …
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 18.75 billion on Sunday on behalf of the Ministry of Finance (MoF). The first tranche of the T-bills will be offered through 91-day notes at EGP 9 …
Mubasher: Boubyan Bank’s revenue is expected to grow 20% by 2020, a report by Arqaam Capital showed, according to Al-Anba newspaper. Arqaam Capital expected that the Kuwait-listed company’s revenue will reach KWD 183 million by 2020. Profit is …
Mubasher: Capital Intelligence Ratings (CI Ratings) affirmed the rating of KWD 100 million Basel III-compliant Tier 2 subordinated bond issued by Gulf Bank at 'BBB+', with a stable outlook. CI ascribed its decision to the bank’s well-established …
Dubai – Mubasher: Emirates NBD has confirmed the news clipping published on Wednesday, 17 July, regarding the comment made by the CEO of Sberbank, Herman Greif. The CEO hoped that the bank’s acquisition of Denizbank, the Turkish bank, would be …
Riyadh – Mubasher: Saudi Marketing Co (Farm Superstores) announced renewing its sharia-compliant facility agreement with Alinma Bank. The SAR 130 million loan deal has been extended to 30 April 2020, the company said in a statement to the Saudi …
Cairo – Mubasher: The Central Bank of Egypt (CBE) will issue treasury bills (T-bills) worth EGP 19 billion on Thursday on behalf of the Ministry of Finance (MoF). The first tranche of the T-bills will be offered through 182-day notes at EGP 9.5 …
By: Islam Fadl Cairo – Mubasher: Export Development Bank of Egypt (EBE) considers pumping loans worth EGP 1.7 billion into several sectors. The Egyptian lender plans to directly finance four sectors; namely, fertilizers, contracting, diverse …
By: Mahmoud Gamal Abu Dhabi – Mubasher: The stock of First Abu Dhabi Bank (FAB) reached its highest level in three months by Thursday’s mid-session in line with the bank’s goal of raising foreign investors’ ownership and removing its limit. By …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) has delivered a record financial performance during the period from January to June 2019, group CEO of FAB Abdulhamid Saeed said, commenting on the AED 6.3 billion recorded in the first half this …
Cairo – Mubasher: National Bank of Egypt’s (NBE) total funding under the mortgage finance initiative surged by EGP 2.9 billion, or 71%, year-on-year during fiscal year 2018/2019, local newspaper Akhbar El-Yom reported. NBE’s contributions to the …
Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB) achieved an increase of 4% in net profits to AED 3.2 billion during the second quarter of 2019 compared to the same period a year ago. During the first half of 2019, FAB also recorded a year-on-year …
By: El-Sayed Gamal Riyadh- Mubasher: Saudi Arabia registered a 10.36% year-on-year rise in the US treasury bonds during May 2019, raising its stake of the US treasuries for the fourth month in a row. Saudi Arabia’s holdings of the US treasury …
Mubasher: Kuwait-based Warba Bank has obtained the Central Bank of Kuwait’s (CBK) preliminary approval to issue sukuk at a value not exceeding $500 million under $2 billion sukuk programme. The bank will obtain the CBK’s final approval after …
Mubasher: Jiyad Holding Co has finalised a funding deal valued at $14.18 million (KWD 4.36 million) from a Gulf bank. This seven-year financing was sealed by Jiyad for a fully-owned subsidiary to fund its operating activity. Jiyad noted that the …
Mubasher: Kuwait Finance House (KFH) achieved an increase of 9.4% in profits during the second quarter of 2019 compared to the same period a year ago. The bank recorded KWD 56.07 million ($184.7 million) in Q2-19 from KWD 51.25 million ($168.8 …
Dubai – Mubasher: Commercial Bank of Dubai (CBD), listed on the Dubai Financial Market (DFM), reported a 25% year-on-year increase in its net profit for the first half of 2019. Net profit reached AED 701 million in H1-19, versus AED 561 million in …
By: Mahmoud Gamal UAE – Mubasher: The UAE has reduced its holdings of US Treasury bonds by 4.5% month-on-month, or $2.5 billion, in May to $53.2 billion from $55.7 billion, data by the US Department of the Treasury showed. The GCC state’s …
Cairo – Mubasher: Sixth of October for Development and Investment (SODIC) announced signing an addendum to its medium-term facility agreement with Commercial International Bank (CIB) to raise the value of the loan by EGP 230 million. Under the new …
