Saturday 31 January 2015

Masraf Al Rayan Q4 net profit up, hikes dividend

Masraf Al Rayan, Qatar's second-largest bank by market value, reported a 21.2 per cent rise in fourth-quarter net profit on Monday, beating analyst expectations and helped by lending growth. The increase continues a broadly-positive results season for lenders in the Gulf stat


Dubai Smart Government’s ePay services usage up 25pc

Recent statistics from Dubai Smart Government Department (DSG) have revealed that its ePay system for online payment of Dubai government fees witnessed a 25 percent increase from the previous year, in 2014, generating approximately Dh7 billion ($1.901 billion). The uptrend was ac


Mubasher offers MetaTrader4 platform

Mubasher Financial Services, a top financial institution, has launched the MetaTrader 4 platform (MT4), a well-known online trading platform designed to provide brokerage trade services to customers. The platform has established itself as the industry standard combining an intuit


Bahrain forum to focus on organisational culture

The Banking Association of Bahrain in partnership with 21st Century Consulting (21CC) is holding a seminar explaining why organisational culture matters and how to diagnose its alignment with strategy. The event will take place tomorrow (January 27) at Regency InterContinental Ba


Dubai Islamic eyes 20pc loan growth in 2015

Dubai Islamic Bank (DIB) expects loan growth to moderate to between 15 and 20 per cent in 2015 and is also targeting a reduction in its ratio of bad loans, its chief executive said on Sunday. Adnan Chilwan was speaking to reporters after the UAE's largest sharia-compliant len


Qatar's economy minister named bourse chairman

Qatar's economy minister Sheikh Ahmed bin Jassim Al Thani has been appointed chairman of the Gulf state's stock exchange, the bourse said on Sunday, in a move apparently intended to raise the exchange's international profile. The exchange's previous acting chairma


ADIB eyes capital boost after Q4 profit growth

Abu Dhabi Islamic Bank said on Sunday it planned to boost its capital base to help support future growth, after setting aside less cash for bad loans helped it post a 19.3 per cent rise in fourth-quarter net profit. Banks in the UAE have enjoyed a strong reporting period so far,


ADCB Q4 profit jumps 29pc to $277m

Abu Dhabi Commercial Bank (ADCB) made a net profit of Dh1.02 billion ($277.7 million) in the three months of 2014 versus Dh793.1 million in the corresponding period of 2013, marking a rise of 28.9 per cent according to Reuters calculations. The fourth-largest lender by assets in


Sico fund outperforms regional benchmark

The Fixed Income Fund of Bahrain’s Securities & Investment Company (Sico) delivered a return of 8.7 per cent compared with 6.9 per cent by its benchmark, the Barclays Emerging Markets GCC Bond Index in its first full year of operations. Since inception, the return has b


Al Hilal Bank denies CEO resignation reports

Abu Dhabi's government-owned Al Hilal Bank said on Thursday its chief executive had not resigned, correcting an earlier comment from a spokeswoman who said he was leaving. "Mohamed Jamil Berro still remains in his position and it is business as usual for the bank,"

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