The fund made a profit of Dhs455 million in 2012, compared with a loss of Dhs3.2 billion in 2011.
The Dubai-based lender is accusing Netherlands-based ING of losing 40 per cent of a $108 million investment.
The conglomerate is currently in the midst of a $4.5 billion debt restructuring.
The lender’s profit was boosted by a jump in both lending and customer deposits portfolio.
Mohammed Alabbar was speaking at Emaar’s AGM where shareholders approved a 10 per cent cash dividend.
The lender recently opened an office in Australia, and plans to open one in Sharjah.
SABB saw first quarter net profit rise 11 per cent, while Saudi Hollandi’s net profit rose 19.4 per cent.
The new move, to be introduced in mid-June, will allow customers to make automatic loan payments from their bank accounts.
Lead arrangers released official price guidance at 3.125 per cent after suggesting the low three per cent area as an indicator.
Mohammad Zaqout, previously executive vice president of personal banking at Al Hilal Bank, will be the new chief executive.
Domestic tensions have been delaying work on Kuwait’s KD30 billion development plan
Kamal Jabre is relocating to London to take up a senior investment banking role.
French media group Vivendi aims to offload its 53 per cent holding in Moroccan firm Maroc.
The bank said it made $254 million in the three months ended March 31, 2013.
The bank’s lending growth year-on-year stood at 28.7 per cent during the first quarter.
The bank received the deposit in 2008 to boost its financial strength during the financial crisis.
With the Euro bailout of the island country of Cyprus what are the implications for the UAE and Middle East?
The new firm is backed by Qatar’s sovereign wealth fund, Qatar Holding.
Ian Larkin of Lloyds will replace Graham Honeybill, who will become a non-executive director.
IILM faced a major challenge to ensure compliance with laws in all of the 12 member countries situated across Asia and the Middle East.
The three-year revolving credit facility attracted a total of 19 international lenders and replaces a $2.5 billion loan agreed in 2010.
Pricing came at the tight end of initial price guidance of 170-190 bps, indicating that demand for the transaction was strong.
The plan will mean banks have to pay back any overcharged interest to citizens.
Alex Thursby succeeds Michael Tomalin who after 14 years at the helm will remain in a non-executive director’s role.
The Kingdom has budgeted to spend a record 820 billion riyals, up 19 per cent from the amount originally planned for 2012.
Oman’s Islamic lenders can hold no more than 40 per cent of their net worth in the form of foreign currency-denominated assets.
Sadara Chemical Co will use the returns to fund a $19.3 billion petrochemical complex in the east of the Kingdom.
Commercial Bank of Qatar has hired Morgan Stanley and Bank Of America Merrill Lynch for the issue of a Tier 1 bond.
The government is planning to write off the interest on Kuwaiti citizens’ personal bank loans taken out before March 2008.
Qatar plans to boost government spending by 18 per cent to QR210.6 billion in the 2013/14 fiscal year.