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Banking & Finance

Bank Muscat Q1 net profit jumps 59%
Bank Muscat, Oman’s largest lender, missed analysts’ expectations despite posting on Wednesday a 59.1 per cent jump in its first-quarter net profit, as it didn’t repeat a one-off fraud provision that it was forced to make last year.
Sharjah Islamic Bank posts 30% rise in profits
Sharjah Islamic Bank (SIB) on Wednesday announced its first quarter 2014 results with net profits reaching Dh110 million, compared to the Dh84.8 million achieved in the same period last year, a 30 per cent growth rate.
UAE banks do great in first quarter
Market cap surges 78% in quarter, buoyed by positive economic indicators.
UAE’s five favourite banking products
ADIB has emerged as the leading bank for personal loans, credit cards and mortgages, while Al Hilal Bank has secured the popularity vote for its new vehicle finance option, price comparison site souqalmal.com said in a report.
National Bank of Abu Dhabi: Banking Fort
NBAD is the top potential contender in the UAE’s banking industry to join the Emerging Market Index next month, writes Muzaffar Rizvi
UAE cards market to grow
With Expo 2020 win, Mashreq expects credit, debit cards to rise 10% annually
IDFC, Bandhan win India’s first bank permits in decade
IDFC Ltd, India’s largest lender to road projects, and Bandhan Financial Services Pvt won preliminary approvals to set up banks as the regulator prepared to issue permits for the first time in more than a decade.
GCC Islamic bond sales likely to improve in Q2
The worst start to a year for dollar Islamic bond issuance since 2009 is giving way to optimism Gulf Cooperation Council sales will revive as Saudi Electricity Co and Damac Real Estate Development sell $3 billion of debt.
FGB closes Kangaroo 5-year bond
First Gulf Bank (FGB) has concluded the issuance of A$250 million ($228.35 million) for its debut ‘Kangaroo’ 5-year bond.
Central bank restructuring making progress
The restructuring of Central Bank of the UAE is making progress.
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