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19 September 08:00 AM

Banking

The credit facilities aim to fund MEPCO’s capital
17 September 05:02 PM MEPCO renews, amends banking facilities with Al Rajhi Bank
Riyadh – Mubasher: Middle East Paper Co. (MEPCO) announced the renewal and amendment of a credit facilities deal with Al Rajhi Bank pursuant to the provisions of Islamic Shariah, according to a disclosure to the Saudi Stock Exchange (Tadawul) on …
Sukuk and Islamic Finance
Emirates NBD is committed to making banking easy - Sarkar
17 September 04:35 PM Emirates NBD offers dynamic currency conversion to UAE visitors
Dubai – Mubasher: Emirates NBD has recently offered dynamic currency conversion of cash withdrawals by using Visa cards at any Emirates NBD ATM for all UAE travellers countrywide, according to a press release. Emirates NBD’s new edge came …
Investor meetings will be held as of 17 September 2019
17 September 11:54 AM Samba mulls offering $5m Euro medium term notes
Riyadh – Mubasher: Samba Financial Group announced its intention to issue notes under its $5 million Euro Medium Term Note Programme, which was established on 15 July 2019. The new offering will be facilitated through a special purpose vehicle …
Companies Investments
Filipino transfers in Bahrain and Kuwait hiked
16 September 04:30 PM Filipino labour in GCC registers $3.4bn remittance in 7M
By: Eman Ghali Mubasher: The international money transfer of Filipino labour in GCC countries fell by 8.36% year-on-year during the first seven months of 2019, with 96.6% of such remittances landing in Asia. The international transfers of the …
Macroeconomics
This loan is a revolving facility that will be renewed every year
15 September 05:24 PM MEPCO renews, amends loan deal with Kuwait’s NBK
Riyadh – Mubasher: Middle East Paper Co. (MEPCO) has renewed its banking facility agreement, which is Shariah-compliant, with the Kuwaiti lender the National Bank of Kuwait (NBK). The Saudi company clarified that the credit facility now stands at …
The syndicated loan amounts to EGP 1.5 billion
5 September 05:56 PM AAIB approves syndicated loan to finance shopping mall in Sokhna
Cairo – Mubasher: Arab African International Bank (AAIB) approved entering into a long-term syndicated loan agreement with Banque Misr and Banque du Caire to finance a project owned by Marakez El Sokhna for Real Estate Projects, a subsidiary to …
Companies Investments
The facilities will be used to finance buying new locations
3 September 04:46 PM SASCO inks SAR 166m facility agreement with NCB
Riyadh – Mubasher: Saudi Automotive Services Company (SASCO) has signed a bank facility agreement, Shariah-complaint, with the National Commercial Bank (NCB) valued at SAR 166.25 million. The facility is divided into a long-term financing of SAR …
Companies Investments
The rating reflects Moody's expectation of very high support from the government of Saudi Arabia
3 September 01:00 PM Moody’s affirms GIB’s long- term deposit rating at ‘Baa1’
Riyadh – Mubasher: Moody's Investors Service assigned first time long and short-term deposit ratings of “Baa1” and “P-2”, respectively, for Gulf International Bank Saudi Arabia (GIB), according to Moody’s recent report. The rating reflects …
Banking and Finance
The facility’s total value amounted to SAR 100 million
3 September 10:58 AM MEPCO renews SAR 100 m banking facility deal from SAMBA
Riyadh – Mubasher: Middle East Paper Company (MEPCO) announced that it has renewed and amended a banking facility agreement (Shariah-compliant) from SAMBA Bank. The facility’s total value amounted to SAR 100 million, according to MEPCO’s recent …
Banking and Finance
The gross operating income of APICORP stood at $184.1 million in H1-19
2 September 03:59 PM APICORP posts $70m net profits in 6M
Riyadh – Mubasher: The Arab Petroleum Investments Corporation (APICORP) posted a net profit of $70.4 million during the first half of 2019. The gross operating income of the multilateral development bank stood at $184.1 million during the …
Banking and Finance
Saudi Riyals
29 August 09:23 PM Saudi general reserves decrease by 13.3% in July
Riyadh – Mubasher: Saudi general public reserves went down by 13.25% in July 2019, compared to the same month a year earlier. The kingdom’s general reserves amounted to SAR 497.6 billion by the end of July 2019, versus SAR 573.67 billion in the …
Banking and Finance
Saudi EXIM Bank will complete the financing system in high-risk foreign markets
29 August 01:48 PM Saudi EXIM Bank to start operation within months
Riyadh – Mubasher: Saudi Arabia’s EXIM Bank is expected to start operating by the end of 2019 or during the first quarter of 2020, Asharq Al-Awsat reported, citing the Secretary-General of the Saudi Export Development Authority (SEDA), Saleh Al …
Banking and Finance
PIF will pay 30 basis points over the London Interbank Offered Rate for the bridge loan
28 August 03:30 PM Saudi PIF finalises terms on $10bn loan
Riyadh – Mubasher: Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), has finalised the terms of a $10 billion loan it is seeking to raise from a group of banks, Bloomberg reported. PIF, which is among the largest sovereign …
Macroeconomics
The original facility had a value of SAR 30.5 million
28 August 10:49 AM Saudi Paper reschedules SAR 26m loan with NCB
Riyadh – Mubasher: Saudi Paper Manufacturing Company has signed an agreement to reschedule a SAR 26.5 million loan from the National Commercial Bank (NCB). The original facility had a value of SAR 30.5 million and a repayment period of one year …
Banking and Finance
Green sukuk market is expected to grow further
27 August 09:43 PM Global sukuk issuance to equal $130bn in 2019
Mubasher: The value of global sukuk issuance is expected to increase by 6% to reach $130 billion in 2019, which represents a fourth consecutive annual increase, according to a report released on Tuesday by Moody's Investors Service. That forecast …
Sukuk and Islamic Finance
The loan repayment period shall be twelve months
27 August 05:07 PM SPIMACO borrows SAR 150m in loan contract
Riyadh – Mubasher: The Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) signed a loan agreement for SAR 150 million with the Saudi Industrial Development Fund (SIDF). The new contract comes in line with SPIMACO’s …
Companies Investments
A loan of SAR 180 million has been approved for the 1st phase of the ring road project
27 August 01:38 PM Saudi Arabia injects SAR 367m investments in Afghanistan
Riyadh – Mubasher: Saudi Fund for Development (SFD) plans to invest up to SAR 367.5 million ($98 million) in the road and school projects in Afghanistan, Saudi Press Agency (SPA) reported. A loan worth SAR 180 million ($48 million) has been …
Macroeconomics
Total assets recorded $2.19 trillion in H1-19
26 August 03:38 PM GCC banks’ assets hit $2.2trn in H1
By: Bedour Al Raee Mubasher: Assets of banks operating in the GCC increased by 9.13% year-on-year during the first half of 2019. Total assets recorded $2.19 trillion in H1-19, compared to $2.01 trillion in H1-18, according to Mubasher statistics. …
Macroeconomics
Bank Audi is listed on the Beirut Stock Exchange
22 August 02:53 PM GGF invests $15m on EE and RE projects in Bank Audi
Mubasher: In line with its efforts to strengthen the lending portfolio in the areas of energy efficiency (EE) and renewable energy (RE), Green for Growth Fund (GGF) has recently invested $15 million in Lebanon’s biggest green lender, Bank Audi. …
Emirati banks led the region in terms of profits
20 August 09:29 PM GCC banks post $18.5bn profits in H1-19
By: Bedour Al Raee  Riyadh – Mubasher: A number of 61 banks in the GCC reported an 8.5% year-on-year profit hike during the first six months of 2019, recording $18.54 billion. Emirates NBD topped profitable banks in the GCC in H1-19, registering …
Banking and Finance
Total deposits amounted to SAR 1.718 trillion in Q2-19
20 August 04:43 PM Saudi banks’ deposits jump 8.1% in Q2
By: El Sayed Gamal Riyadh – Mubasher: Deposits at banks operating in Saudi Arabia increased by 8.1% year-on-year or SAR 128.55 billion in the second quarter of 2019. Total deposits amounted to SAR 1.718 trillion ($458.07 billion) in Q2-19, from …
Financial Results
Lazard and Moelis have started preparatory work on the offering
20 August 03:15 PM Saudi Aramco picks Lazard, Moelis for its IPO
Riyadh – Mubasher: Saudi Arabian Oil Company, known for Saudi Aramco, has selected Lazard, the world's leading financial advisory and asset management firm, and Moelis & Co, the global independent investment bank to advise on the oil giant’s …
Companies Investments
Assets of Saudi-listed banks reached SAR 2.33 trillion in Q2-19
19 August 03:54 PM Saudi banks’ assets hit $622bn in Q2
By: El Sayed Gamal Riyadh – Mubasher: Total assets of banks operating in Saudi Arabia increased by 8.65% year-on-year during the second quarter of 2019. Assets of Saudi-listed banks reached SAR 2.33 trillion ($622.14 billion) in Q2-19, compared to …
Financial Results
Saudi ownership of US Treasuries reached $179.6bn in June
16 August 08:47 PM Saudi tops Arab holders of US Treasuries in June
Riyadh- Mubasher: Saudi Arabia investments in the US treasury bonds rose by 9.3% year-on-year during June 2019, increasing its stake of the US treasuries for the fifth month in a row. Saudi Arabia’s holdings of the US treasury bonds grew to $179.6 …
Macroeconomics
Saudi Arabia topped Arabs with $179.6bn holdings
16 August 07:03 PM Kuwaiti ownership of US Treasuries grows in June
Mubasher: Recent data showed that Kuwait’s holdings of the US Treasury bonds increased by 7.2% month-on-month in June 2019. Kuwait’s holdings of the US debt instruments went up to $44.4 billion in June 2019 from $41.4 in May. On a yearly basis, …
Banking and Finance