Deutsche Bank appoints Ziyad Al Ashaikh as General Manager of its Saudi Arabia branch
May 13, 2013

Ashok Aram, Deutsche Bank's CEO for the Middle East and North Africa region, said, "Deutsche Bank is deeply committed to the Kingdom of Saudi Arabia with a strong presence on the ground. The appointment of Ziyad reflects the depth of skilled and committed people working for Deutsche Bank in the region. Ziyad's long experience and insight into the Saudi market will be a great asset for our clients and for Deutsche Bank´s enterprise in the Kingdom."

As General Manager of Deutsche Bank's branch in the Kingdom, Al Ashaikh has...

SHB SME banking wins prestigious awards
May 13, 2013

SAUDI Hollandi Bank has been honored by the Banker Middle East with two SME Banking Awards, one for the Best SME Account and one for Best SME Banking Customer Service. The Banker Middle East Product Awards are organized by the magazine’s publisher CPI Financial.

The awards were voted upon by the magazine’s registered readers and in total 600,000 votes were cast. Saudi Hollandi Bank polled the highest number of votes for the best SME Account and the Best SME Customer Services.

Saudi Hollandi Bank was recognized...

JPMorgan's Saudi chief leaves for central bank job
May 8, 2013

JPMorgan Chase Inc confirmed on Tuesday that its top banker for Saudi Arabia, Abdulaziz Al Helaissi, is leaving to take a position with Saudi Arabia's central bank.

Two banking sources said that Al Helaissi would become the deputy central bank governor.

The appointment of Al Helaissi, who is also JPMorgan Chase's regional corporate banking head, is the latest move by ......

Al Khaliji Reports 8% increase in Net Profit at QR 131.5 Million For The First Quarter Of 2013
April 24, 2013

• Net profit of QR 131.5 million for the first quarter of 2013 is 8% higher than the same period of 2012
• Total assets at QR 34.4 billion, 28% higher than the first quarter of 2012
• Loans and advances grew by 8% during Q1 2013 and 20% comparing with Q1 2012 to reach QR 14Bn
• Net fee and commission income at QR 47.3 million, up 82% comparing with same period in 2012
• Earnings per share were at QR 0.37 by end of Q1 2013, 9% higher than the first quarter of 2012

al"...

Union Bancaire Privée and Guggenheim Fund Solutions Power an Advanced Hedge Fund Platform That Meets the Requirements of Global Investors
April 22, 2013

Following the acquisition and integration of Nexar, Union Bancaire Privée, UBP SA has launched an alternatives division that offers clients broad alternative investment expertise, as well as innovative solutions. As part of this strategy, it has selected Guggenheim Fund Solutions (GFS) as its partner to provide clients with a state-of-the-art platform that combines carefully sourced, dynamic, high-potential hedge fund managers with a next-generation solution"...

Bank of America Reports First-Quarter 2013 Net Income of $2.6 Billion, or $0.20 per Diluted Share
April 22, 2013

Business Momentum Continues

• Deposit Balances up 5 Percent From Q1-12 to $1.1 Trillion
• First-lien Mortgage Production up 57 Percent From Q1-12 to $24 Billion
• Global Wealth and Investment Management Reports Record Post-merger Revenue, Net Income and Long-term Assets Under Management Flows
• Consumer Credit Loss Rates Reaching Five-year Lows
• Commercial Loan Balances up 17 Percent From Q1-12 to $367 Billion
• Maintains"...
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Oman Shares Fall Most Since March on Bank Results; Saudi Drops
April 22, 2013

Oman’s benchmark stock index dropped the most in three weeks after the nation’s banks reported first-quarter profit that missed analysts’ estimates.

Muscat-based Bank Sohar (BKSB) posted its biggest drop in almost a month. Bank Muscat SAOG, the sultanate’s largest lender which last week said quarterly profit fell 25 percent, lost 1.4 percent."......