Saudi’s NCB posts 2% rise in first-quarter profit even as impairments surge 173%
Saudi Arabia’s National Commercial Bank posted a 2.1% rise in profit for the first three months of the year to…
Retail Banking
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Digital innovation crucial for banks
We are living in an increasingly digital and automated world, characterised by rapid technological advancements that have come to be…
First Abu Dhabi Bank puts talks to acquire Bank Audi's Egyptian business on hold: sources
First Abu Dhabi Bank (FAB.AD) (FAB) has put on hold discussions to acquire the Egyptian assets of Lebanon’s Bank Audi…
Saudi NCB, Samba post profits, diverge on provisions
National Commercial Bank, Saudi Arabia's biggest lender, on Sunday posted a 2.1% rise in quarterly profit despite higher provisions while…
Saudi wealth fund boosts US holdings with stakes in Citi, Boeing, Facebook
Saudi Arabia's sovereign wealth fund has bought minority stakes in major American companies including Boeing , Facebook and Citigroup ,…
Mashreq welcomes new executive team member
Mashreq, one of the leading financial institutions in the UAE, has appointed Mufazzal Kajiji as the new Head of Mashreq…
Egypt's Suez Canal Bank to sell entire stake in Midor
Egypt’s Suez Canal Bank will sell its entire stake in Middle East Oil Refinery (Midor) for $30.6 million. The…
Emirates Post records 45% increase in last-mile delivery volumes in UAE
Emirates Post has registered a 45% growth in last mile delivery volumes since the beginning of 2020 compared to Q4…
European bank loans Turkey’s QNB Finansbank $108M
The European Bank for Reconstruction and Development (EBRD) is providing a €100 million ($108 million) loan to a Turkish lender…
Arab Bank group Q1 net profit drops 36% to $147.6mln – statement
Jordan's largest lender, said on Wednesday its first-quarter net profit dropped 36 % to $147.6 million, compared to $231.8 million…
Egypt- NBE, EG Bank, AIB arrange syndicated EGP 650m loan to Misr Italia properties
An alliance of banks working in the Egyptian market have signed a medium-term syndicated loan amounting to EGP 650m for…
Al Rajhi Bank first-quarter profit slides on higher operating expenses and impairment charges
Al Rajhi Bank, the biggest lender in Saudi Arabia by market capitalisation, reported a 7 per cent drop in its…