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 SME Banking |
Mashreq, WestLB close loan for du
- Mashreq and WestLB AG have successfully closed the Dhs3bn syndicated term loan facility for du. The banks have acted as Mandated Lead Arrangers and Bookrunners to help finance du's mobile and fixed network expansion.
- United Arab Emirates: Sunday, July 27 - 2008 at 13:49
DIB profit reaches Dhs1.3bn
- Dubai Islamic Bank (DIB) has reported a net profit of Dhs1.303bn for the first half of 2008. It is 47% higher compared to Dhs888m for the corresponding period last year. This excludes gain on transfer of interest in a DIB subsidiary. The bank's total assets now stand at Dhs91.4bn, 21% higher than last year.
- United Arab Emirates: Sunday, July 27 - 2008 at 08:42
Doha Bank suspends $1bn Sukuk sale
- Due to poor funding market conditions, Doha Bank has postponed its plan to sell a $1bn global Islamic bond to finance investments in renewable energy, Reuters has reported. The bank said it will wait for global funding markets to 'calm down' and may revisit the issuance plan in the middle of next year.
- United Arab Emirates: Saturday, July 26 - 2008 at 08:51
Abu Dhabi bank posts record profits
- The National Bank of Abu Dhabi today announced an H1 2008 net profit of Dhs1.87bn, a 58% rise on the same period last year. NBAD said Q2 profits hit a record high. Net profits were Dhs1bn, up 72% on last year. Total assets reached Dhs165bn, up 33% on the same period in 2007.
- United Arab Emirates: Thursday, July 24 - 2008 at 16:28
Riyad Bank to audit portfolio processes
- Riyad Bank in Saudi Arabia has signed PIC Solutions to conduct a Collections HealthCheck on its consumer credit portfolios for credit cards, personal loans, car loans and home loans. The bank provides a range of consumer credit products and is reviewing its existing collections policies, strategies and procedures in an effort to look for improvements. It wants to identify and implement changes to improve its collections strategies and therefore results.
- Saudi Arabia: Thursday, July 24 - 2008 at 11:49
VCBank income up 447%
- Venture Capital Bank has announced its H1 income as $45.7m, up 447% on the same period last year. The bank's net profit for the first six months of 2008 has been announced as $31.4m.
- Thursday, July 24 - 2008 at 06:46
Union National Bank profit up 41% in H1
- UAE-based Union National Bank Group has reported a 41% jump in its net profits for the first half of 2008 reaching Dhs764.6m ($208m) up from Dhs542.4m during the same period last year. The net profit for the second quarter of 2008 of Dhs424.1m, compared to Dhs284.6m, increased by 49% quarter-on-quarter, the bank said.
- United Arab Emirates: Wednesday, July 23 - 2008 at 07:18
Noor Islamic plans Maldive's 1st Islamic bank
- Noor Islamic Bank, which was opened by Dubai's government in January, plans to lead a group that will launch the Maldives' first Islamic bank this year, reported Bloomberg. Noor Islamic will manage the new Male-based venture, Noor Maldives Islamic Bank, with start-up capital of $10m, the Dubai-based bank said.
- United Arab Emirates: Tuesday, July 22 - 2008 at 14:47 |
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