Gulf International Bank plans to issue floating rate notes with a lifespan of five years through a private placement in Saudi Arabia.
UAE lender says the rebrand signals its clear plans to grow.
Despite a recovery in yields across asset classes such as equities and real estate, the liquidity and volatility of the forex industry remains attractive to regional investors.
The portfolio, which comprises loans to SMEs in the UAE, will strengthen the bank’s position in the sector.
The bank made a profit of $26.75 million in the first three months of 2014, according to a statement in Oman bourse.
Net profit rose to 26.06 million dinars in the first three months of 2014 from 23 million dinars in the same period a year ago.
This is the latest step to widen foreign access to Chinese capital markets.
The study found that the majority of parents in the UAE were financially ill prepared for their children’s education.
The Abu Dhabi-based Etihad has been looking at Alitalia’s books for a possible investment since the start of the year.
Mubadala, which has stakes in GE and private equity firm Carlyle, saw net profit tripling over the last year.
The figure is slightly higher than the SAR1.60 per share that the firm paid in the corresponding period of 2013
The deal, estimated to be worth $5 billion, would be the largest banking transaction in the region for the past 20 years.
The bank made a net profit of $92 million in the opening three months of 2014.
The deal is due to be completed in the second half of 2014, a statement said.
The bank made a quarterly profit of 39.76 million rials ($103.3 million) in the three months to March 31.
Global case volumes rose two per cent in the quarter while those in China rose 12 per cent, the company said.
The company’s past financial statements show it last reported a quarterly profit in the first quarter of 2009.
Proceeds will be used to expand the $1 billion Worlds of Adventure theme park.
The bank attributed the profit rise to a drop in operating expenses.
Ma’aden made a profit of 125.2 million riyals ($33.4 million) in the three months to March 31.
A conservative approach to lending has hampered the growth of the Kingdom’s banks, according to a new report.
The country’s fourth-largest lender by assets said net profit for the first quarter was $31.1 million.
Yansab said the profit fall was due to lower prices and higher sales and maintenance costs.
The law is expected to be enacted within three months or less, the UAE economy minister said.
Banks across the globe have shrunk radically since the 2008 collapse of U.S. bank Lehman Brothers sparked the financial crisis.
The bank did not state what its previous cap was but official data showed foreign investors owned 15.21 per cent at the end of Sunday.
In future, the closing price will be the average of all trades in the final 15 minutes, weighted by the volume traded at each price.
The number of job vacancies saw a two per cent year-on-year growth in March while jobseekers rose seven per cent, says a new survey.
The firm attributed higher revenues to a strong recovery in the capital markets and a pick-up in the local market for IPOs.
The bank made SAR1.71 billion ($456 million) in the three months ended March 31.