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Emirates NBD profit up 45% in Q2
Emirates NBD has reported that its second-quarter net profit climbed 45% on strong lending and fee income, reported Reuters. Emirates NBD said it earned Dhs1.47bn ($400.3m) in the three months to June 30, while, total customer loans rose 42% to Dhs187bn.
United Arab Emirates: Tuesday, July 22 - 2008 at 14:41

FEB elects Esam Janahi as Chairman
Bahrain-based First Energy Bank, the region's first investment bank tailored to services in the energy field, has named Esam Janahi as the Chairman to the Board of Directors. The paid up capital for FEB now stands at $1bn, up from the initially planned $750m.
Bahrain: Tuesday, July 22 - 2008 at 11:33

Doha Bank profit up 28% in Q2
Doha Bank, Qatar's third-biggest lender by assets, has reported a 28% rise in second-quarter profit, reported Bloomberg. Net income in the three months to June 30 rose to 305.3 million riyals ($84m) compared with 239.2 million riyals a year earlier.
Qatar: Tuesday, July 22 - 2008 at 11:17

FGB issues Dhs3.6bn convertible bonds
First Gulf Bank has announced the issuance of mandatory convertible bonds worth Dhs3.6bn ($981m) to UAE institutional strategic partners. Maturity date for the bonds is July 2011, and the interest rate to be paid to the bond holders before conversion into shares is 3-months Emirates Interbank Offered Rate (EIBOR) plus 1 per cent, while the conversion rate has been calculated at Dhs28.80.
United Arab Emirates: Tuesday, July 22 - 2008 at 07:14

Commercialbank profits 66% up
Commercialbank has announced a QR1.04bn net profit in the first half of 2008. This is 66% higher than the same period last year. Strong growth can be seen in the increase in assets to QR53.8bn; total loans and advances rose by 36% to QR29.8bn, and growth in customer deposits by 36% to QR28.9bn.
Qatar: Monday, July 21 - 2008 at 13:10

DIB sets up Dar Al Sharia
Dubai Islamic Bank has opened a consultancy unit called Dar Al Sharia Legal & Financial Consultancy LLC. The subsidiary will focus on all types of Islamic financing and investment transactions and will serve as one-stop solution centre for all Shariah, legal and financial consultancy at the global level.
United Arab Emirates: Monday, July 21 - 2008 at 08:54

Qatar Islamic Bank grows 70% in H1
Qatar Islamic Bank has reported a 70% growth rate in the first half of 2008, with record profits touching QR854m, compared to QR502m for the same period in 2007. During this time, QIB has invested $150m to fund the construction of the Abu Fontas Desalination plant for Qatar Electricity and Water Company.
Qatar: Sunday, July 20 - 2008 at 10:53

Noor, Emirates NBD close Enoc loan
Emirates NBD and Noor Islamic Bank have announced that they have successfully closed a $500m Islamic facility for Enoc Supply and Trading. The Shariah-compliant loan will be used for the company's working capital requirements. The two banks acted as initial mandated lead arrangers and bookrunners.
United Arab Emirates: Sunday, July 20 - 2008 at 08:38

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