Tag Archives: Bank

Doha Bank in Mortgage Loan Agreement With India Bulls Group

Doha, October 03 (QNA) – Doha Bank has entered into an agreement with Indiabulls Group for offering of Mortgage Loans to NRI customers for acquiring properties in India.
The agreement has been signed by R Seetharaman, Group CEO of Doha Bank and Ajit Mittal, Group Executive Director of Indiabulls, the bank said in a statement on Wednesday.
India bulls Group is one of leading business houses in India in the areas of Housing Finance, Real Estate and Infrastructure development. Indiabulls Housing Finance Company has its presence through 180 branches in 100 cities across India.
Doha Bank’s NRI customers will be able to seek Mortgage Loans from Indiabulls to acquire properties in India. This is a unique arrangement to serve NRI customer for their property needs back home, the statement said. (QNA)

QNB Group Raises its Stake in the UAE Based Commercial Bank International

Doha, August 30 (QNA) – QNB Group announced that it has successfully completed an increase in its stake in the UAE based Commercial Bank International (CBI) to 40%. This move is in line with the Bank’s international expansion strategy in the Middle East and Africa and reflects the confidence in the prospects of the financial sector in the UAE. This action also reflects QNB Group’s confidence in the financial position of CBI and its future plans which will allow an increased level of cooperation between the two institutions.
CBI operates a network of 19 branches across the UAE. Total assets as at June 30, 2012 reached AED12.0 Billion (US$3.3 Billion) and net profit for the six months of 2012 stood at AED141.3 Million (US$38.5 Million).
QNB Group has achieved strong financial results for the first half of 2012, with net profit of QR4.1 billion, up by 17.1% compared to the same period last year. Total assets increased by 25.5% since 30 June 2011 to reach QR330.8 billion, the highest ever achieved by the Group.
In line with QNB Group’s international expansion plans, the Group has recently increased its stake in Mansour Bank in Iraq to 51% and has also acquired a 49% stake in the Bank of Commerce & Development, one of Libya s leading private sector banks. The Group is currently present in 24 countries around the world through its network of branches, subsidiaries and associates. The Group employs nearly 7,600 staff and has a network of 345 branches and offices and an ATM network of more than 670 machines. (QNA)

Bank Holidays Starts Sunday

Doha, August 15 (QNA) – Qatar Central Bank (QCB) has announced 3 days of bank holidays for the upcoming Eid al-Fitr. The banks will remain closed from Sunday 19th August to Tuesday 21th August, according to a statement issued today QCB.  (QNA)

Asset Magazine Names QIB Best Islamic Bank in Qatar

Doha, July 24 (QNA) – Hong Kong-based Asset Magazine has named Qatar Islamic Bank (QIB) best Shariah-principled bank in Qatar.
 QIB, which also received an award for the best Islamic deal in Qatar for its role as the facility agent for the Islamic tranche in Barzan $10.3 Billion gas project, was handed the award at a ceremony held recently in Malaysian capital, Kuala Lumpur.
 The Asset Magazine viewed that QIB had managed to set and enforce the highest standards for Islamic banking in Qatar and beyond, and performed consistently well despite the adverse global financial conditions and the rising local competition.
 QIB Acting CEO Ahmed Meshari said, “Our transformation programme launched last year has started to bear fruit, having a positive impact on the bank’s performance and our customer service levels allowing us to meet the growing expectations of our valued customers.”
 The Asset Magazine has been running Islamic finance awards for a few years now and has gained credibility in the market since then due to its stringent screening and short listing process. (QNA)

Gulf Warehousing, Al Ahli Bank Record High H1 Profits

Doha, July 22 (QNA) – Each of Gulf Warehousing and Al Ahli Bank released Sunday the Semi annual financial statements for year 2012 which showed high profits compared to year 2011.
 Gulf Warehousing revealed a net profit of QR 40.4 million in the period ending June 30, 2012 in comparison to QR 30.5 million for the same period last year a press release published on Qatar exchange’s website said today.
 The company s Earning per Share (EPS) amounted to QR 1.02 as of June 30, 2012 versus QR 0.77 for the corresponding period in 2011.
 Meanwhile, Al Ahli Bank revealed a net profit of QR 240.9 million in the period ending June 30, 2012 in comparison to QR 237.9 million for the same period last year.
 The bank s Earning per Share (EPS) amounted to QR 2.15 as of June 30, 2012 versus QR 2.16 for the corresponding period in 2011.(QNA)