Tuesday 28 April 2015
 
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Bank

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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Doha Bank posts $115m net profit, up 5.2pc

Doha Bank has posted a net profit of QR420 million ($115.2 million) for the first quarter of the year, compared to QR399 million for the same period last year, an increase of 5.2 per cent. The bank’s net operating income inc

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Masraf Al Rayan Q1 profit rises 18pc

Masraf Al Rayan, Qatar's second-largest bank by market value, reported an 18 per cent increase in first-quarter net profit on Monday, beating analysts' expectations. The bank is the fourth major Qatari lender to report its

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Customer deposits surge at Oman Islamic banks

Oman's two full-fledged Islamic banks have yet to post a profit but their customer deposits are surging, increasing pressure on authorities to develop sharia-compliant money market tools and make a long-awaited issue of Islamic bonds (sukuk)

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Qatar Islamic Bank Q1 net profit rises 19 pc

Qatar Islamic Bank (QIB), the Gulf state's largest sharia-compliant lender by assets, reported a 19 per cent jump in first-quarter net profit, broadly in line with analysts' forecasts. The bank was one of three Islamic lenders i

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Saudi's Al Rajhi Bank posts 11 pc quarterly profit drop

Al Rajhi Bank, Saudi Arabia's second-largest lender, posted an 11 per cent drop in its first-quarter net profit, it said on Monday, missing analyst forecasts. The bank made 1.52 billion riyals ($405.3 million) in the three mon

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