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.
Net profit was KD83.9 million in the three months to the end of March.
Lenders hurting themselves by cold-calling customers, says head of Retail Banking at Emirates NBD.
Fenox Venture Capital firm has inked a partnership with Innovation 360, a Dubai-based innovation consultancy to invest in start-ups in the region.
Mubadala was last in the market in April 2011 through a $1.5 billion five-and 10-year trade.
NCB chairman Mansour al-Maiman said earlier this week that the bank was preparing to list its shares on the Saudi stock exchange this year.
The lender’s profit was boosted by strong loan growth related to extensive construction spending in Qatar.
There were no indications that the comments by deputy crown prince Muqrin bin Abdulaziz would be followed by any concrete policies against banks in Saudi Arabia.
The UAE’s official development assistance amounted to $5.2 billion in 2013, up 375 per cent from 2012.