S&P reaffirms Arab Banking Corporation’s ratings

S&P reaffirms Arab Banking Corporation’s ratings
Manama, Bahrain: Arab Banking Corporation announces that Standard & Poor’s (S&P), the international rating agency, has reaffirmed its counterparty credit ratings at BBB+/Stable/A-2. S&P said that the ratings reflect the group’s strong wholesale customer franchise in the Arab world, high support from principal shareholders, good loan quality, and reduced […]

ABC Islamic Bank reports $25.6 million net profit for 2008

ABC Islamic Bank reports $25.6 million net profit for 2008
Manama, Bahrain: Bahrain-based ABC Islamic Bank today announced a net profit for the year to 31 December 2008 of US$25.6 million, compared to a figure of US$50.9 million for 2007.
Gross operating income was US$33.8 million which, excluding an exceptional US$32.8 million capital gain […]

Arab Banking Corporation (ABC) announces 2008 results

Arab Banking Corporation (ABC) announces 2008 results
Manama, Bahrain: Arab Banking Corporation today announced its consolidated Group results for 2008.
ABC’s results have been impacted by the waves of adversity that began in April 2007 with the sub-prime mortgage crisis in the USA which led to a global financial crisis during the first half of […]

Arab Banking Corporation announces Deputy Chief Executive’s retirement

Arab Banking Corporation announces Deputy Chief Executive’s retirement
Manama, Bahrain: Arab Banking Corporation (ABC), the international Arab bank based in Bahrain, today announced that Mr. Abdulmagid Breish, Deputy Chief Executive will be taking an early retirement effective 31 March, 2009.
Mr. Breish joined ABC almost 30 years ago and has been with the bank since […]

ABC Islamic Bank reports a net profit of US$23 million

ABC Islamic Bank reports a net profit of US$23 million
Manama, Bahrain: ABC Islamic Bank today announced the bank’s net profit for the year to September 2008 of US$23 million. This was an increase of 60% over the net profit for the comparable period last year and a record nine months profit in the […]

Arab Banking Corporation (ABC) announces third quarter results and the realignment of its banking model

Arab Banking Corporation (ABC) announces third quarter results and the realignment of its banking model
Manama, Bahrain: Arab Banking Corporation announced its third quarter results today, reflecting solid underlying performance from core business activities. It also announced that its banking model is being realigned to focus on rapidly building a significant Universal Banking business in […]

US$65 million and €31 million for Afreximbank

US$65 million and €31 million for Afreximbank
Manama, Bahrain: Arab Banking Corporation, Commerzbank Aktiengesellschaft, HSBC Bank plc and Landesbank Baden-Württemberg, London Branch (the “Mandated Lead Arrangers” and “Bookrunners”) are pleased to announce that they have successfully closed syndication of a US$65 million and €31 million Dual Tranche Syndicated Term Loan Facility (the “Facility”) for Cairo-headquartered […]

Capital Intelligence reaffirms Arab Banking Corporation’s long term and short term ratings at A- / A2

Capital Intelligence reaffirms Arab Banking Corporation’s long term and short term ratings at A- / A2
Manama, Bahrain: Capital Intelligence has reaffirmed its foreign currency long term and short term ratings for Arab Banking Corporation at A- / A2 with a “stable” outlook. ABC’s support rating has been raised from 2 to 1.
Capital Intelligence commented […]

ABC Islamic Bank reports a net profit of US$15.7 million

ABC Islamic Bank reports a net profit of US$15.7 million
Manama, Bahrain: ABC Islamic Bank today announced the bank’s net profit for the first half of 2008 of US$15.7 million. This was an increase of 72.8% over the net profit for the comparable period last year and a record half year profit in the history […]

Arab Banking Corporation (ABC) announces results for the second quarter of 2008

Arab Banking Corporation (ABC) announces results for the second quarter of 2008
Manama, Bahrain: Arab Banking Corporation (B.S.C.), the international wholesale bank based in Bahrain today reported that the solid underlying performance from core business activities generated total income for the second quarter of US$192 million, an increase of 15% over US$167 million for […]