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Burgan Bank gets buy-back extension
- Kuwait-based Burgan Bank has received a six month extension for a plan to buy back 10% of its shares, Bloomberg has reported. The extansion period begins today.
- Kuwait: Thursday, August 07 - 2008 at 09:11
Standard Chartered profits up 31%
- Standard Chartered bank has announced pre-tax H1 profits of $2.59bn, up 31% on the same period last year. The bank's operating income grew 33% to $6.99bn. Hong Kong, the group's largest market, increased pre-tax profits by 28%; India, the second largest, by 89%; Singapore by 55%; Africa by 41%; and the UAE by 65%.
- Wednesday, August 06 - 2008 at 09:42
Shuaa profits fall 10%
- UAE-based investment bank Shuaa Capital has reported a 10% drop in profits on its Q1 results for the 2008-2009 financial year, Gulf News has reported. The bank reported a profit of Dhs67.1m compared to Dhs74.5m profit for the same quarter of 2007-2008. The dip was blamed on international market conditions and higher operating costs.
- United Arab Emirates: Wednesday, August 06 - 2008 at 09:20 |
Global fund pays out 5%
- Global Investment House's Global Opportunistic Fund I has declared a pay out of 5%. The pay out reflects the principal and net investment income from fully exiting Dana Gas and partial exiting by Depa and Ithmaar Bank.
- Tuesday, August 05 - 2008 at 09:11
ABC Islamic posts $15.7m in H1
- ABC Islamic Bank announced its net profit soared to $15.7m, an increase of 72.8% for the first half of the year. The bank's total assets reached to $1.6bn with an increase in investments ready for sale mainly in Sukuks. Murabaha receivables and Ijara assets increased to $1.2bn as the lending portfolio continued to grow to meet customer demand.
- Bahrain: Monday, August 04 - 2008 at 15:50
Arab Banking posts $71m net loss
- Arab Banking Corporation (ABC) has reported a net loss of $71m for the second quarter of this year, due to continued deterioration in market values, mainly attributable to the subprime mortgage crisis, The Bahrain Tribune has reported. However, performance from core business activities generated a total income of $192m, an increase of 15% compared to the same period last year.
- Bahrain: Monday, August 04 - 2008 at 09:02
Saudi Hollandi seals $195m loan
- Saudi Hollandi Bank has acted as the sole Lead Arranger and underwriter for the $195m fully Islamic financing for Arabian Amines Company, a joint venture between Al-Zamil Group and the global petrochemicals manufacturer Huntsman Corporation. The transaction consists of Murabaha and Ijara tranches duly approved by the Shariah Board of Saudi Hollandi Bank.
- Saudi Arabia: Sunday, August 03 - 2008 at 11:59
Ahli Bank income surges to 86%
- Ahli Bank has reported a jump of 86% on its net income for the first six months of this year. Net income grew to OR3.51m compared to OR1.18m during the same period in 2007. Total assets increased to OR382m, 104% higher than June 30, 2007.
- Oman: Sunday, August 03 - 2008 at 08:32
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