|
| > Industry News > Banking |
International Bank of Qatar's net profit rises 25%
The International Bank of Qatar (IBQ) has posted a 25% increase in full-year net profit to QR573m ($157.3m), compared with QR458m a year earlier. Total customer deposits climbed 22% year-on-year to QR19.4bn, while customer loan portfolio rose 9% to QR16.7bn over 2010.
>>> More
|
|
Joyalukkas opens three money exchange centres
Joyalukkas Money Exchange has announced the opening of three of its Money Exchange Centres in Abu Dhabi and Dubai on January 26, Khaleej Times has reported. The three outlets are located in Hamdan Street, Abu Dhabi, Karama and Al Qusais, Dubai. The firm, which currently has centres in Abu Dhabi, Dubai and Sharjah, is planning to open their first centre in India next March.
>>> More
|
|
Oman lender to raise RO58m through private share placement
Oman’s largest bank, BankMuscat has unveiled plans to raise OR57.75m through a private placement of shares, Muscat Daily has reported. Analysts said the bank aims to strengthen its capital base to grow its loan book and expand business, particularly in project financing and Islamic banking. The lender posted a capital adequacy ratio of 15.93% in 2011, compared with 14.78% in 2010, well above the central bank’s set minimum requirement of 12%.
>>> More
|
|
Visa set to unveil digital wallet in UAE
Global credit card payment provider, Visa is set to launch the region’s first ‘digital wallet’ in the UAE, and subsequently extend the facility to the other countries in the Middle East, Times of Oman has reported. “The Visa digital wallet facility will allow a consumer to store all virtual payment cards in his wallet. The customer will be able to use this wallet in a wide range of transactions, including mobile payments, e-commerce and social network,” said Sachin Bountra, business development director for Middle East Visa. Kuwait was the first country in the Middle East to see consumers make payments with their phones, after Visa ran a six-month pilot project in Kuwait in cooperation with National Bank of Kuwait and Zain to pay by mobile. “This enabled cardholders to use their smartphones in one of the largest malls in Kuwait,” he said.
>>> More
|
|
Lebanon's largest lenders flourish, despite economic hurdles
Lebanese lender, BLOM has said the country’s three largest banks have managed to maintain relatively high profits in 2011 despite adverse economic conditions and mounting political and security tension in neighbouring Syria, The Daily Star has reported. The banks, BLOM, Audi, and Byblos, proved highly resilient, growing their earnings in a year filled with uncertainty and dramatic changes in the region despite reporting a combined $94m in net collective provisions, BLOM said. On an individual basis, Bank Audi reported the highest absolute level of net profits at $365m, growing by 3.7% over 2010. BLOM Bank came second, growing by 0.3% to reach net profits of $332m, while Byblos profits grew by 1.2% to $180m, it said.
>>> More
|
|
|
|
|
