Banking

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SME Banking

Rakbank posts 65% growth in Q1
The National Bank of Ras Al Khaimah (Rakbank) announced its net profit reached Dhs142.31m for the quarter ending in March 31, said news reports. The bank posted a 65% increase over the same period in 2007 and over 30% growth from the previous quarter.
United Arab Emirates: Monday, April 21 - 2008 at 09:01 |

QIIB posts 28% growth in Q1
Qatar International Islamic Bank (QIIB) recorded 28.2% growth in the first quarter of 2008, reported The Peninsula. Net profits hiked QR135.4m as against QR 105.6m in the corresponding period last year. Total assets have reached QR10.9bn, while shareholders equity totaled QR2.5bn compared to QR1.9bn in the same period the previous year.
Qatar: Sunday, April 20 - 2008 at 09:03 |

Burgan Bank up by 9% in Q1
Burgan Bank announced its first quarter 2008 has increased net profit by 9%, reaching KD24.5m for the period compared to previous year's performance. The bank noted productivity in terms of sharp reduction in cost with income ratio to 18.8 from 22.3 in the previous year. Diversified customer base led to a 6% growth in loans, 7% growth in deposits and 12% increase in fees and commissions.
Kuwait: Saturday, April 19 - 2008 at 09:13

CBD reports 22% growth in Q1
Commercial Bank of Dubai has reported 22% growth in the first quarter to Dhs267m ($72.7m) compared to Dhs218m in the same period of 2007. The core banking profit increased by 32% to Dhs222m in comparison to Dhs168m for the first quarter of 2007. Net interest income for the period was Dhs246m, a 28% increase over last year's figures. Fees and commission grew by 35%.
United Arab Emirates: Thursday, April 17 - 2008 at 07:03

National Bank of Bahrain plans new note
National Bank of Bahrain has announced plans to launch a second tranche of its Mena note in the third week of April, reported the Bahrain Tribune. The bank received a good response to its initial MENA note and closed subscriptions on March 19, but there were several institutions and individuals who could not participate in the note due to various reasons, said Hussain Al Hussaini, Executive Assistant General Manager of the bank. The Note offered exposure to the fast-growing Middle East & North Africa stock markets through EFG Hermes MEDA Fund. The launch is subject to regulatory approval.
Bahrain: Wednesday, April 16 - 2008 at 13:10

EIB signs syndication deal with Amlak
Dubai-based real estate finance company Amlak Finance has signed a Dhs1.4bn ($381m) syndication facility with Emirates Islamic Bank, the company said in a statement. The Wakala facility is primarily intended to support Amlak's real estate investments.
United Arab Emirates: Wednesday, April 16 - 2008 at 07:10 |

Samba Q1 profit dips
Samba Financial Group, Saudi Arabia's second-largest lender by market value, has announced that its first-quarter profit fell 5.4% due to a decline in bourse-related revenues, reported Reuters. Samba made 1.2 billion riyals ($320m) in net profit or 1.33 riyals per share in the three months to March 31, against 1.27 billion riyals, or an adjusted 1.41 riyals per share, in the year-earlier period.
Saudi Arabia: Tuesday, April 15 - 2008 at 11:42

Arab National Bank posts $179m Q1 net profit
Saudi Arabia's Arab National Bank has reported a net profit of $179m for the first quarter of this year, compared to $171m for the same period last year, an increase of 5%, reported Arab News. Total operating income increased by 5% in 2008 to reach $279m compared to $265m for the same period last year, while total operating expenses increased by 6% to reach $100m compared to $94m for the same period last year.
Saudi Arabia: Tuesday, April 15 - 2008 at 08:00

Index : Banking : Page 22