UAE-based National Bank of Abu Dhabi (NBAD) said government deposits dropped by Dh48 billion ($13 billion) in past 12 months after it reported a three per cent fall in third-quarter profit.
The bank's chief executive Alex Thur
The days of very easy money are drawing to a close in the rich Gulf Arab oil-exporting economies as money market rates start to rise, partly because of the damage which cheap oil is doing to government finances.
Loose liquidity cr
Low oil prices are slowing or reversing deposit growth at Gulf Arab banks, but not enough to cause the liquidity squeeze that bankers fear.
Deposits from governments, quasi-government bodies and national oil companies provide arou
As banks around the world gear up to meet tough Basel III regulatory standards, Islamic lenders face a source of uncertainty that could prove expensive for them: how regulators will treat their deposits.
In most ways, Islamic bank
Cyprus clinched a last-ditch deal with international lenders to shut down its second largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro ($13 billion) bailo
Saudi British Bank (SABB), an associated company of the HSBC Group, has registered a net profit of SR3.24 billion ($862.8 million) for 2012, up 12.2 per cent compared to SR2.88 billion for the same period the year before.
Egypt's central bank, responding to what it said were market rumours, said on Monday that it was taking all steps needed to safeguard deposits in Egyptian banks whether denominated in local or foreign currencies.
Saudi British Bank (SABB) said its net profit for the nine months ended 30 September hit SR2.42 billion ($640 million), up 8.6 per cent compared to SR2.23 billion for the same period last year.
Announcing the nine months results o
Total deposits from the Gulf countries in Jersey, one of the world’s leading international finance centres, reached GBP21.2 billion ($33.1 billion), accounting for 14 per cent of total deposits in Jersey's financial sector, said a report.