Increased consumer lending and new banks will put the country on a solid footing this year.
Bahrain faces sluggish growth and a rise in non-performing loans due to the fallout from political unrest.
Higher GCC banking profitability was driven by improvement in margins, faster asset expansion and expanding fee income in 2011.
The top 50 banks’ consolidated assets grew by a higher 9.1 per cent in 2011 to $1.2 trillion, compared to 6.8 per cent in 2010 and four per cent in 2009.
The country made a formal loan request to the International Monetary Fund during a visit to Cairo by IMF chief Christine Lagarde.
CITIC, partly owned by China’s sovereign wealth fund, did not give financial details of the investment.
Fears of a Euro lending shortage appear overblown as local banks grow their loan books.
The false records cases could be easier to prove than money-laundering.
Banks in the region are benefiting from high profit margins and government support, says new report.
Abdel Shoman, chairman of Jordan-based Arab Bank, reportedly resigned after a disagreement with key shareholders.
The UAE Central Bank has told lenders to reschedule citizens’ loans by more than 48 months.
Qatar inflation rose to its highest level so far this year in July, driven by furniture, textiles and home appliances.
The Egyptian investment bank posted a net profit of $4.4 million as revenues from its brokerage operations declined.
A Malaysia-based association of Islamic scholars is planning to develop a global code of ethics to improve standards in the industry.
Central Bank orders regional banks to meet liquidity requirements from January 2013, in preparation for Basel.
Standard Chartered may have settled its Iran regulatory dispute for $340 million but investors remain wary.
National Industries Group Holding said that it has raised enough finance to repay the Sukuk when it matures on August 16.
Dubai trade licences saw a significant jump as UAE confidence steadily rebounds.
Prince Al Waleed Bin Talal, CEO of Kingdom Holding, escaped harm as his car was written off in Saudi Arabia this weekend.
Amid growing investor concern about the Eurozone, Riad Meliti, CEO, Arqaam Capital, remains firmly bullish.
The Kingdom boosted spending to a record SAR804 billion in 2011, 23 per cent higher than in 2010.
New York’s top bank regulator has threatened to revoke the bank’s state licence over alleged Iran ties.
The Qatari sovereign wealth fund currently owns around 12 per cent of Qatar Insurance.
The Kingdom’s cabinet has given a licence to the Industrial and Commercial Bank of China (ICBC) to open one branch in Saudi.
DIFC may no longer provide a gateway to the UAE financial market.
New York’s top bank regulator has accused the UK-based bank of hiding $250 billion in transactions tied to Iran.
The capital raised will be used to fund credit growth and the lender’s upcoming venture into Islamic finance.
Total bank deposits in the country fell from Dhs1.125 trillion in May to Dhs1.107 trillion at the end of June.
The Gulf state’s surplus for 2011/2012 was boosted by increased oil income and lower spending.
DFM’s net profit fell to Dhs10.2 million during the second quarter of the year, as revenues reduced.