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SME Banking

EIB profit jumps 253% in Q1
Emirates Islamic Bank has reported a net profit of Dhs148.6m ($40.4m), up 253% compared to the same period last year. The total income in the first quarter of 2008 grew to Dhs359.2m from Dhs189.5m in the first quarter of 2007.
United Arab Emirates: Wednesday, April 30 - 2008 at 14:02

Qatar National Bank, Oman bank ink deal
Qatar National Bank and Bank Sohar have signed an agreement to provide a Syndicated Credit Facility of OR22.4m ($58.2m) to Oman Investment and Finance Company, reported the Peninsula. The facility will be used by the company to meet their contract financing requirement.
Oman: Wednesday, April 30 - 2008 at 10:43

New Islamic bank plans Q4 launch
A new Islamic bank, Imaar International Bank, plans to start operations in Saudi Arabia in the fourth quarter once it raises funds for its $11bn paid-up capital, reported Reuters. The Bahrain-based venture is led by Saudi businessman Sheikh Saleh Kamel. Imaar Bank expects to complete raising funds from private, government-owned and public investors by the end of July.
Saudi Arabia: Wednesday, April 30 - 2008 at 08:28

Dubai Islamic Bank profits up 31%
Dubai Islamic Bank has posted a first quarter 2008 profit of Dhs556m, 31% up on the same period last year. Total assets for Q1 were Dhs85.1bn, a 24% rise. The bank said it financed Dhs12bn worth of new real estate contracts during the period and it opened four new branches, taking the number to 48.
United Arab Emirates: Tuesday, April 29 - 2008 at 15:55

National Bank of Oman profit up 49% in Q1
National Bank of Oman has reported a net profit of RO10.9 million ($28.3m) and an operating profit of RO12.7 million for the first quarter period ended March 31. The bank's operating profit for the first three months of 2008 increased by 49% compared to the same period of 2007, the bank said in a statement.
Oman: Tuesday, April 29 - 2008 at 13:23

Standard Chartered opens trading hub at DIFC
Standard Chartered Bank has opened a new trading platform for the Middle East and Africa that it will host at the Dubai International Financial Centre (DIFC), reported Gulf News. The new trading floor hosts 200 seats and is the largest such facility in the region. The newly-established trading platform at the DIFC was previously hosted from London.
United Arab Emirates: Tuesday, April 29 - 2008 at 07:01

NBAD Q1 profits up 45%
The National Bank of Abu Dhabi has reported that Q1 net profits have risen 45% on the same period in 2007 to $238.3m. The bank also reported that net assets were up 41% on March 2007, to a value of $43bn.
United Arab Emirates: Monday, April 28 - 2008 at 07:46

Bank of Sharjah shows Q1 rise
The Bank of Sharjah has announced that profits for the first quarter of 2008 show a 38% increase. The growth in deposits from the end of Q1 2007 has risen 81% to Dhs7.2bn ($1.96bn).
United Arab Emirates: Sunday, April 27 - 2008 at 08:23

Index : Banking : Page 20