UAE lenders cut loan-loss provisions by 13% in 2012
UAE banks significantly reduced existing high provisioning levels by 13 per cent, while at a collective GCC level, provisions for…
Investment Banking
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QNB takes over SocGen's Egyptian unit
Qatar National Bank (QNB) Group said it has completed the acquisition of a controlling stake of 97.12 per cent in…
Key GCC Islamic banking assets rise to $445bn
Islamic banking assets with commercial banks in the GCC reached $445 billion at the end of last year, up from…
Dubai Holding unit profit up 488%
Dubai Holding have announced the financial results for its business group, Dubai Holding Commercial Operations Group, for the fiscal year…
KAMCO announces its financial results for the year 2012
KIPCO Asset Management Company - KAMCO, announces its financial results for the year ending on 31 December 2012. KAMCO posted…
Deutsche Bank appoints Vice Chairman for Middle East and North Africa
Deutsche Bank has announced today the appointment of Rafik Nayed as Vice Chairman for the Middle East and North Africa…
Russia’s Sberbank Said Sole Bidder for Citi’s Turkey Assets
Turkey’s Denizbank AS, owned by Russia’s OAO Sberbank, submitted the sole offer for Citigroup’s Turkish retail unit after rivals decided…
Royal Bank of Scotland's Mideast, Africa head resigns
Royal Bank of Scotland's Chief Executive Officer for the Middle East and Africa has resigned, a spokeswoman from the bank…
Hapoalim profit down 7.4% in 2012
Bank Hapoalim issued its financial report for 2012 today, which saw net profit fall 7.4% to NIS 2.543 billion last…
UBS Plans Istanbul Hires as Turkey Growth Trumps Global Cuts
UBS AG, the Swiss bank cutting about 10,000 jobs, is planning to expand in Turkey as the nation’s economic growth…
Dubai's ICD plans to raise $2bn loan
Investment Corporation of Dubai, the emirate’s main state-owned holding company, said on Tuesday it plans to raise $2bn from a…
Qatar First Bank new name of Qatar First Investment Bank
After four successful years since establishment Qatar First Investment Bank, Qatar's first independent Shari'ah compliant bank regulated by QFC Regulatory…