Banking

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SME Banking

Al-Rajhi Bank quarterly net rises
Al-Rajhi Bank, Saudi Arabia's largest bank by market value, has reported a profit for the first quarter of 2008, after showing little gains in 2007 with three quarters of declines, the bank said in a statement posted on the Web site of the Saudi stock exchange. Net income advanced 2.6% to 1.6 billion riyals ($430m), or 1.07 riyals a share, from 1.56 billion riyals, or 1.05 riyals a share, reported Reuters.
Saudi Arabia: Tuesday, April 15 - 2008 at 07:38

Dubai Bank profit jumps 300%
Dubai Bank has reported a 300% jump in its first quarter net profit to Dh131.5m, from the Dh32.9m during the Q1 of 2007, said news reports. The bank's assets increased by 53%, hitting to Dh14.4bn as of March 31, 2008.
United Arab Emirates: Monday, April 14 - 2008 at 08:52 |

NBK posts record Q1 profits
The National Bank of Kuwait (NBK) has posted record profit first quarter results. Net income was up 28% to KD82m ($308.5m) and revenues were up 30% to KD134.3m. The bank said profits were down to strong growth in all lines of business and its regional expansion.
Kuwait: Sunday, April 13 - 2008 at 08:55

QNB profit up by 40% in Q1
Qatar National Bank (QNB) announced its net profit for the three months at end March 2008 has reached QR917.3m, 40.5% higher than the corresponding period during the previous year, reported The Peninsula. The bank's Islamic arm, Al Islami also posted increased financial activities by QR2.8bn (101%) to reach QR5.6bn and net profit was up by QR44m to QR76.9m.
Qatar: Saturday, April 12 - 2008 at 08:22

Barclays gives additional role to Roger Jenkins
Barclays has appointed Roger Jenkins as Chairman of Investment Banking and Investment Management for the Middle East. This new position will be in addition to his existing roles as Chief Executive of Barclays Private Equity, Principal Investments and Structured Markets and a member of IBIM's Executive Committee, the bank said in a statement.
Thursday, April 10 - 2008 at 13:17

Alinma Bank IPO 37% covered
Saudi Arabia's Alinma Bank said yesterday its initial public offering, the kingdom's largest ever, raised about 3.91 billion riyals by the second subscription day, reported Reuters. The bank is seeking to sell 1.05 billion shares at 10 riyals each in the April 7-16 IPO. The sale represents 70 per cent of the new bank's capital. The sale is open only to Saudi nationals who will have to buy at least 50 shares each.
Saudi Arabia: Thursday, April 10 - 2008 at 11:23

First Gulf Bank posts record profit
First Gulf Bank, Abu Dhabi's second-largest lender by market value, has reported that it made its seventh consecutive record profit in the first-quarter, reported Reuters. The bank's income rose 66% to Dhs675m ($183.8m). Net income in the three months to March 31 exceeded two forecasts in a Reuters survey last month of Dhs483m and Dhs561.
United Arab Emirates: Thursday, April 10 - 2008 at 07:05

More Emiratis enter banking sector
UAE nationals now comprise 31.8% of the country's banking sector's workforce, according to Sultan Bin Nasser Al Suwaidi, governor of the UAE Central Bank. A 1998 law required an increase in the employment of nationals by banks operating in the UAE by 4% annually. As a result, the number of UAE nationals working in the country's banking sector have jumped from 3,700 in December 2002 to 10,218 in December 2007, reported Gulf News.
United Arab Emirates: Wednesday, April 09 - 2008 at 09:12

Index : Banking : Page 8