Citigroup said it sold its stake in India's Housing Development Finance Corp for $1.9 billion, as the bank steps up efforts to strengthen its capital base.
Citi said on Friday it would likely record an after-tax gain of about $722 million
Sixty-two per cent of the Indians residing in UAE plan to own their home in India and consider self ownership as the main reason to buy, said a report.
A little under one-third (32 per cent) of the Indians plan to buy in less than month’s
Bank Muscat, Oman's largest lender by market value, is considering selling more foreign assets to reduce rising operating costs, two bank officials with knowledge of the matter said on Thursday.
'We are considering, after the sale
Emirates NBD, a leading bank in the Middle East region, has joined hands with top Indian bank HDFC to launch a special online remittance facility for its Indian clients.
Indian nationals residing overseas can avail this facility to remit f
Net profit at Bank Muscat, Oman's largest bank by market value, nearly halved in the first quarter, as provisions against bad loans remained high and the year-ago comparison figure was boosted by a stake sale.
The Oman bank posted a 49 per
Sharia-compliant firms in the Gulf region are eyeing bargains in Western markets hit by the global crisis, but Islamic merger principles still need development, a partner at an international law firm said.
Having covered Islamic finance fo
BankMuscat earned RO48.4 million ($125.7 million) net profit in the first quarter, up 82 percent on the year and in line with expectations, boosted by gains of the sale of its stake in India's HDFC Bank.
The net profit for the first qu
Bank Muscat said on Tuesday it had sold 40 percent of its holdings in India's HDFC Bank and planned to sell its entire stake.
Oman's largest lender said in a statement on the bourse website that it expected 4 million rials ($10.39 million
Bahrain Financial Harbour Holding Company (BFHHC) had signed a lease agreement with India's HDFC Bank to take over the entire 49th floor in the West Tower.
'Bahrain has been on our radar for quite some time due to its various attractive f