Banking

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SME Banking

Bank Audi sets up in Qatar
Beirut-based Bank Audi will be setting up branch at the Qatar Financial Centre, reported The Peninsula. The bank has a net profit of $207m and assets of $17.2bn in 2007 and has been in talks for possible merger with EFG-Hermes of Egypt. Hermes currently has 20% stake in Bank Audi.
Qatar: Wednesday, March 26 - 2008 at 07:31

Ithmaar to list in Kuwait bourse
Ithmaar Bank will list its shares on the Kuwait Stock Exchange effective March 31, 2008. Ithmaar Bank shares has traded on the Bahrain Stock Exchange in 2007 worth BD235.5m.
Bahrain: Tuesday, March 25 - 2008 at 14:41

Barclays opens Abu Dhabi branch
Barclays has launched its first branch in Abu Dhabi, equipped with cash and cheque deposit machines and includes a Premier Lounge to cater to high net worth individuals. Barclays has been in the UAE for more than 30 years, and services its clients through a network of 25 ATMs and 4 sales outlets.
United Arab Emirates: Tuesday, March 25 - 2008 at 10:27

Mawarid offers e-Murabaha
Mawarid Finance anounced it is offering a new service for small and medium enterprises that provides convenience and all the necessary facilities for business transactions through electronic Murabaha, said news reports. E-Murabaha works on the Murabaha mode of Islamic finance where SME clients will have pre approved online financing limits for their requirements.
United Arab Emirates: Tuesday, March 25 - 2008 at 10:19

Banque de Caire to sell 67% stakes
State-owned Bank Misr said it plans to sell up to 67% stake in Banque du Caire, reported Gulf News. The bank has shortlisted mashreq, Arab Bank, Samba Bank, First National Bank of Greece and Standard Chartered Bank to do due diligence. Banque de Caire has been acquired by Bank Misr about a year ago on book value.
Egypt: Tuesday, March 25 - 2008 at 07:19

Oman bank on share split
Shareholders of the National Bank of Oman has approved the plans for a share split, a bond sale and stock and cash dividends for 2007, cited Reuters. Each National Bank share will be split into 10 shares with a nominal value of 100 baisas each. One Omani rial is equivalent to 1,000 baisas. Shareholders also approved plans to sell $259.8m of bonds.
Oman: Monday, March 24 - 2008 at 14:25

NBK launches Islamic securities fund
The National Bank of Kuwait (NBK) is launching the Islamic Global Real Estate Securities Fund, which it claims is the first fund of its kind in the Middle East. The fund enables clients to invest in diversified Shariah-compliant global real estate securities. Two portfolios are available, with a minimum initial subscription of $250,000. The fund is open-ended with monthly subscriptions and redemptions.
Kuwait: Monday, March 24 - 2008 at 12:46

CBI posts Dhs320m profit
Commercial Bank International (CBI) announced its net profit increased to Dhs320.6m compared to Dhs8.7m in 2006. The bank approved 15% bonus shares and a 5% cash dividend for its shareholders. CBI's customers' deposits grew by 57% to reach Dhs8.3bn.
United Arab Emirates: Monday, March 24 - 2008 at 10:05

Index : Banking : Page 12