Saudi Al Rajhi Bank, SABB report double-digit Q3 profit growth | Reuters

DUBAI, Oct 24 (Reuters) – Al Rajhi Bank and Saudi British Bank, two of Saudi Arabia’s largest banks, reported double-digit third-quarter profit growth on Wednesday, broadly in line with forecasts. Al Rajhi Bank, the kingdom’s second-largest lender by assets, reported a 13.6 percent climb in its third-quarter net profit, helped by a rise in net special commission income and fees from banking services. Source: Saudi Al Rajhi Bank, SABB report double-digit Q3 profit growth | Reuters

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MIDEAST STOCKS-Kuwait up 0.8 pct on expectations of foreign inflows

DUBAI, Sept 25 (Reuters) – Kuwaiti stocks rose nearly 0.8 percent in early trade on Tuesday, helped by expectations that its inclusion in the FTSE Russell emerging market index will trigger more foreign fund flows. The first phase of its entry to the index began on Monday and the second stage will be on Dec. 24. Source: MIDEAST STOCKS-Kuwait up 0.8 pct on expectations of foreign inflows

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Deutsche Bank appoints Riyadh GM | ZAWYA MENA Edition

LONDON: Deutsche Bank has appointed Mohammed Alajmi as general manager of Deutsche Bank Riyadh Branch in Saudi Arabia.He will have oversight of the bank’s business regulated by the Saudi Arabian Monetary Authority (SAMA), Deutsche Bank said in a statement.The German banking giant originally established its Riyadh branch in 2006. Source: Deutsche Bank appoints Riyadh GM | ZAWYA MENA Edition

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Revealed: Top 10 banks in the UAE – Gulf Business

Things have been on the up for the GCC’s banks, which collectively recorded a better year in 2017 despite slowing economic growth in the region as a whole.Banking activity was supported by a higher oil price and continued infrastructure investment as Gulf states diversify their economies in various ways. Commercial activity in the region expanded in 2017 and consumer confidence grew, albeit slightly. As a result, our list of the region’s 50 leading banks – ranking institutions in Bahrain, Kuwait, Oman, Saudi Arabia and the UAE – recorded higher net profit in 2017. Source: Revealed: Top 10 banks in the

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UK real estate firm Savills acquires Cluttons Middle East – Gulf Business

UK-based real estate advisory firm Savills has announced its acquisition of consultancy Cluttons Middle East.Savills said the business employs 190 staff in seven cities across the UAE, Bahrain, Egypt, Oman and Saudi Arabia and provides agency, management and consultancy advice in the commercial and residential sectors. Source: UK real estate firm Savills acquires Cluttons Middle East – Gulf Business

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Dubai’s Emirates NBD to acquire Turkey’s DenizBank for $3.19bn – Gulf Business

Dubai’s largest bank Emirates NBD has announced a definitive agreement to acquire a 99.85 per cent stake in Turkish private bank DenizBank from Russia’s Sberbank for TRY14.6bn ($3.19bn).The deal represents a coup for Emirates NBD amid reports that it had been met with resistance from Turkish President Tayyip Erdogan, who sided with Qatar against the UAE, Saudi Arabia and Bahrain in last year’s Gulf dispute. Source: Dubai’s Emirates NBD to acquire Turkey’s DenizBank for $3.19bn – Gulf Business

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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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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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Amwal lists on QSE largest ETF in GCC

Amwal, the Qatar Financial Centre (QFC) authorised firm, has succeeded in listing and management of the largest exchange-traded fund (ETF) in the Gulf Co-operation Council (GCC) region, according to a top official of the QFC Authority (QFCA). Source: Amwal lists on QSE largest ETF in GCC

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