Bahrain’s Ahli United Bank buys 7.3 pct stake in Saudi Bank AlJazira

DUBAI, April 23 (Reuters) – Bahrain’s Ahli United Bank said on Monday it has bought a 7.3 percent stake in Saudi Arabia’s Islamic lender, Bank AlJazira, for $173 million. The investment is not expected to have any material impact on Ahli United Bank’s financial position, Bahrain’s largest bank by assets said in a statement. Source: Bahrain’s Ahli United Bank buys 7.3 pct stake in Saudi Bank AlJazira

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Emirates NBD expands operations in Saudi Arabia – Banking & Finance,Saudi Arabia – ArabianBusiness.com

Emirates NBD expands operations in Saudi Arabia Emirates NBD is the first non-Saudi bank to have a significant branch network in the country Emirates NBD has expanded operations in Saudi Arabia with the inauguration of its first branch in Jeddah and plans for two further branches in Khobar and Riyadh, the company announced on Monday. Source: Emirates NBD expands operations in Saudi Arabia – Banking & Finance,Saudi Arabia – ArabianBusiness.com

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Dubai finance firm hires ex-Emirates NBD CEO to lead Brexit charge – Banking & Finance,UAE,Europe – ArabianBusiness.com

Dubai finance firm hires ex-Emirates NBD CEO to lead Brexit charge Rick Pudner joins Lumina to focus on UK-Middle East opportunities ahead of Brexit move Lumina, the Dubai-based specialist corporate finance firm, has hired former Emirates NBD Group CEO, Rick Pudner, to help lead the company’s expansion overseas. Based out of London, Pudner will initially focus on shaping the significant bilateral economic opportunities between the UK and the Middle East, in the lead up to Brexit, Lumina said in a statement. Source: Dubai finance firm hires ex-Emirates NBD CEO to lead Brexit charge – Banking & Finance,UAE,Europe – ArabianBusiness.com

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Bahrain’s GFH to hand out $85m in cash dividends – Banking & Finance,Bahrain – ArabianBusiness.com

Shareholders of Bahrain-based GFH Financial Group have voted to distribute cash dividends totalling $85 million.Dividend distribution will commence within 10 days and represent 8.72 percent of the nominal value of the ordinary shares, a statement said. Dividend distribution will commence within 10 days and represent 8.72 percent of the nominal value of the ordinary shares, a statement said. Source: Bahrain’s GFH to hand out $85m in cash dividends – Banking & Finance,Bahrain – ArabianBusiness.com

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Bluestone Mortgages launches interest-only buy-to-let mortgages | Mortgage Introducer

Specialist lender Bluestone Mortgages has changed its buy-to-let mortgage range, introducing an interest-only option aimed at customers looking for reduced monthly servicing costs. Interest-only buy-to-let mortgages will be available for customers on Bluestone’s ‘Clear’ or ‘AAA’ products with a maximum LTV of 80%. Source: Bluestone Mortgages launches interest-only buy-to-let mortgages | Mortgage Introducer

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Investec cuts residential and buy-to-let tracker rates | Mortgage Introducer

Investec Private Banking has simplified its residential owner-occupier and buy-to-let mortgage ranges and reduced rates on its lifetime tracker and some select fixed rates. Residential lifetime tracker rate reductions are now up to 0.70% and fixed rate reductions up to 0.40% and it increased its loan-to-value to 80% LTV but no changes above 80% LTV were made. Source: Investec cuts residential and buy-to-let tracker rates | Mortgage Introducer

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Dudley Building Society changes expat and Right to Buy range | Mortgage Introducer

Dudley Building Society has made changes to its expat range, launched products for professionals and reduced rates on it Right to Buy product with cashback. For professionals, including those in the process of qualifying, the deal is priced at 3.79% with a fee of £1,000 and is available up to 90% LTV. Source: Dudley Building Society changes expat and Right to Buy range | Mortgage Introducer

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Britons unprepared for a potential hike in interest rates | Mortgage Introducer

With today marking one month until the Bank of England (BoE) will announce if there is to be an increase in interest rates, almost half (47%) of Britons are unaware of a possible increase. CYBG’s digital banking service B also found over half (57%) admitted to not fully understanding how a rise in interest rates will impact their financial situation. Source: Britons unprepared for a potential hike in interest rates | Mortgage Introducer

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Anne Boden: big banks “won’t be able to compete” in a digital future

In October 2008, less than a month after the collapse of Lehman Brothers in the United States, then-Prime Minister Gordon Brown unveiled a plan he called “unprecedented but essential”. Of the £37bn Brown committed to bailing out the big banks, the lion’s share – £20bn of taxpayers’ money – was aimed at saving the Royal Bank of Scotland. Source: Anne Boden: big banks “won’t be able to compete” in a digital future

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Qatar National Bank seeks growth in Southeast Asia | ZAWYA MENA Edition

Qatar National Bank seeks growth in Southeast Asia QNB is active in Egypt and Turkey and has made forays into Singapore, Vietnam, Myanmar, India, Indonesia and China. By Ghaida Ghantous and Dmitry Zhdannikov, Reuters News DOHA – Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told Reuters. Source: Qatar National Bank seeks growth in Southeast Asia | ZAWYA MENA Edition

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Asian Finance Bank now officially MBSB Bank, looks to adopt fintech into business | Money | Malay Mail Online

  KUALA LUMPUR, April 2 — After a successful acquisition by the Malaysia Building Society Berhad (MBSB), the Asian Finance Bank (AFB) has now officially been rebranded as MBSB Bank Berhad, positioning itself as an Islamic bank. MBSB Bank today unveiled its new logo after the RM644.95 million takeover which was finalised in February this year. Source: Asian Finance Bank now officially MBSB Bank, looks to adopt fintech into business | Money | Malay Mail Online

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