Wednesday 6 May 2015
 
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ABC Islamic Bank’s profit increases 75pc to $6m

ABC Islamic Bank has posted a net profit of $6.1 million for the first quarter of the year, a 75 per cent increase compared to the same period last year. High profile syndications and asset churn contributed to good growth in fee

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Bahrain puts Iran-linked bank, insurer into administration

Bahrain's central bank has said it had placed two Iran-linked companies, Future Bank and Iran Insurance Co, into administration to protect the rights of depositors and policyholders. In a brief statement, the central bank did

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Jordan Islamic Bank gains surge 9pc to $16m

Jordan Islamic Bank (JIB), a subsidiary of Bahrain-based Al Baraka Banking Group, has reported nine per cent growth in net profit at $16.08 million for the first quarter when compared with $14.67 million for the first quarter last year.

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Awal Bank wins $700m payout judgement

A Bahraini bank has won a massive payout from a Saudi businessman described as ‘one of the biggest monetary judgements ever awarded in the GCC.’ Maan Al Sanea has been ordered by Bahrain's High Civil Court to pay A

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Emirates Investment Bank net profit up 9pc

Emirates Investment Bank (EIBank), an independent private and investment banking boutique, has posted a net profit of Dh21.23 million ($5.7 million) for the first quarter of the year, an increase of nine per cent. The customer dep

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UAE Exchange in deal with Bank of Baroda for FLASHremit

UAE Exchange, a leading global remittance, foreign exchange and payment solutions brand, has joined hands with Bank of Baroda, an Indian public sector bank, to offer FLASHremit, an instant bank transfer facility. The customers wil

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Deutsche Bank fined record $2.5bn over rate rigging

Deutsche Bank agreed with US and British authorities to pay a record $2.5 billion to resolve investigations it manipulated benchmark interest rates used to price loans and contracts around the world. As part of the deal, Deutsche

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Saxo Bank strengthens capital base with $46m issue

Saxo Bank, a leading online trading and investment specialist, has strengthened its capital base by issuing Convertible Tier 2 Notes in exchange for €46.25 million ($49.6 million) and by issuing new equity capital in the am

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Arab Bank Group posts net profit of $217.2m

Arab Bank Group has reported net profit after tax and provisions of $217.2 million for the first quarter as against $216.3 million in the previous year. Loans and advances increased by three per cent to $23.7 billion, compared wit

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Warba Bank launches new ’Mosawama’ service

Warba Bank has unveiled its new BCT service representing a trading platform for domestic and international commodities. The ‘Mosawama’ comes within the framework of the efforts of the retail banking group in providing

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