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[NBK KK] National Bank of Kuwait :: 4Q 2009 NI up 449% YoY to KWD63.7 mn

[NBK KK] National Bank of Kuwait :: 4Q 2009 NI up 449% YoY to KWD63.7 mn

National Bank of Kuwait said 4Q 2009 NI rose by 449% YoY to KWD63.7 mn ($221.49 mn) versus KWD11.6 mn in 4Q 2008. FY 2009 NI rose by 3.88% YoY to KWD265.2 mn ($922.1 mn) versus FY 2008 NI of KWD255.3 mn. NBK said its FY 2009 Operating Income rose by 2% YoY to KWD518 [...]

February 1 2010 | Posted in Banks, Banks, Banks, COMPANIES, Financials, GCC, Kuwait, MENA, Stocks | Read More »

[EMAAR AB] Emaar Economic City :: to get $1.3 bn gov’t loan

[EMAAR AB] Emaar Economic City :: to get $1.3 bn gov’t loan

Emaar Economic City, a Saudi developer affiliated with Dubai’s Emaar Properties [EMAAR UH] expects to receive a long-term loan from the Ministry of Finance of some SAR5 bn ($1.33 bn).
Emaar Economic City, established in 2006 in Saudi Arabia, is a consortium of global real estate major Emaar PJSC and a number of high profile Saudi [...]

February 1 2010 | Posted in COMPANIES, Financials, GCC, Loans & Credits, MENA, Real Estate, Real Estate Holding & Development, Real Estate Investment & Services, Saudi Arabia, Stocks, United Arab Emirates | Read More »

[UNB UH] Union National Bank :: 4Q 2009 NI up 238% YoY, FY 2009 NI off 20% YoY

[UNB UH] Union National Bank :: 4Q 2009 NI up 238% YoY, FY 2009 NI off 20% YoY

Abu Dhabi-based Union National Bank said 4Q 2009 NI rose by 238% YoY to AED222.1 mn (about $60.5 mn) from AED65.8 mn in 4Q 2008. Consolidated FY 2009 NI fell 19.7% YoY to AED1.157 bn from AED1.441 bn in FY 2008, hurt by the impact of the fair value changes on investment properties and higher [...]

February 1 2010 | Posted in Banks, Banks, Banks, COMPANIES, Financials, GCC, MENA, Stocks, United Arab Emirates | Read More »

[ADCB UH] Abu Dhabi Commercial Bank :: $2.7 bn exposure to Dubai World

[ADCB UH] Abu Dhabi Commercial Bank :: $2.7 bn exposure to Dubai World

Abu Dhabi Commercial Bank, the UAE’s third-largest bank, has about $2.7 bn in outstanding loans to Dubai World entities, including “four or five different entities” that aren’t affected by the company’s restructuring, according to B|oomberg.
On January 26, 2010 ADCB reported its results for the year ended 31 December, 2009. The bank reported AED3.86 bn in [...]

February 1 2010 | Posted in Banks, Banks, Banks, COMPANIES, Financials, GCC, MENA, Stocks, United Arab Emirates | Read More »

[AOFS OM] Al Omaniya Financial :: FY 2009e NI up 11.3% YoY to OMR 3.675 mn

[AOFS OM] Al Omaniya Financial :: FY 2009e NI up 11.3% YoY to OMR 3.675 mn

Al Omaniya Financial said that its preliminary unaudited estimates of FY 2009 NI is OMR3.675 mn, up by 11.3% YoY, on FY 2009e Sales of OMR12.472 mn. Total YE 2009e Assets are at OMR116.9 mn with Net Leased Assets of OMR114.5 mn.
A week earlier Moody’s assigned the company Ba3 long-term local and foreign currency issuer [...]

February 1 2010 | Posted in COMPANIES, Consumer Finance, Financial Services, Financial Services, Financials, Oman, Specialty Finance, Stocks | Read More »

[AKCL IN] Ackruti City :: Fiscal 3Q 2009 NI up 241.79% QoQ, 1,147% YoY

[AKCL IN] Ackruti City :: Fiscal 3Q 2009 NI up 241.79% QoQ, 1,147% YoY

Ackruti City’s fiscal 3Q 2009 consolidated NI jumped 241.79% QoQ to INR734.5 mn from INR214.9 mn and up 1,147% YoY from INR58.9 mn. Consolidated net sales rose by 177% QoQ to INR2,193.7 mn from INR792 mn and by 352% YoY to INR485.9 mn.
EBIDTA increased by 103% QoQ to INR1,269.1 mn from INR624 mn and by [...]

January 31 2010 | Posted in Asia -ex, COMPANIES, Financials, India, Real Estate, Real Estate Holding & Development, Real Estate Investment & Services, Stocks | Read More »

[J&KBK IN] J-K Bank :: Fiscal 3Q 2009 NI up 16% YoY to INR1.39 bn

[J&KBK IN] J-K Bank :: Fiscal 3Q 2009 NI up 16% YoY to INR1.39 bn

Jammu and Kashmir Bank’s fiscal 3Q 2009 Net Profit rose by 16% YoY to INR1,399.9 mn from INR1,206.7 mn in 3Q 2008. Other Income rose by 143% YoY to INR958.1 mn from INR393.9 mn in 3Q 2008, driven mostly by earnings on Commission/Exchange and profit on trading in Investments. Cost of Deposits declined by 126 [...]

January 31 2010 | Posted in Asia -ex, Banks, Banks, Banks, COMPANIES, Financials, India, Stocks | Read More »

[SNDB IN] Syndicate Bank :: Fiscal 3Q 2009 NI off 42.6% to INR20.57 mn

[SNDB IN] Syndicate Bank :: Fiscal 3Q 2009 NI off 42.6% to INR20.57 mn

Syndicate Bank’s fiscal 3Q 2009 (ending December 31, 2009) NI fell by 42.6% to INR205.7 bn from INR358.4 bn in 3Q 2008. Net interest income fell by 15.98% YoY to INR717.9 bn versus INR854.5 bn in 3Q 2008.
Total income in fiscal 3Q 2009 fell by 2.96% YoY to INR26.77 bn versus INR27.59 bn in 3Q [...]

January 31 2010 | Posted in Asia -ex, Banks, Banks, Banks, COMPANIES, Financials, India, Stocks | Read More »

[INL SJ] Investec :: April-December 2009 Net OI up by 1% YoY

[INL SJ] Investec :: April-December 2009 Net OI up by 1% YoY

South Africa’s Investec, a specialist banking group comprising banking and asset management businesses, said its net operating income after expenses and minorities but before impairments on loans and advances for the April-December 2009 period rose by 1% YoY.
In addition, the company reported the following:

Net operating income (after expenses and minorities but before impairments on loans [...]

January 29 2010 | Posted in Asset Managers, Banks, Banks, Banks, COMPANIES, EMEA, Financial Services, Financial Services, Financials, South Africa, Stocks | Read More »

[OTP HB] OTP Bank :: Ukrainian subsidiary posts FY 2009 loss

[OTP HB] OTP Bank :: Ukrainian subsidiary posts FY 2009 loss

Ukrainian subsidiary of Hungary’s OTP Bank reported a FY 2009 Net Loss of UAH435.3 mn with expenses totaling UAH357.8 mn.

January 29 2010 | Posted in Banks, Banks, Banks, COMPANIES, EMEA, Financials, Hungary, Stocks, Ukraine | Read More »