DOCSLIB.ORG

GCC Listed Banks' Results Report for the Year-Ended 31 December 2020

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
GCC Listed Banks' Results Report for the Year-Ended 31 December 2020 GCC listed banks’ results Banking redefined Year-ended 31 December 2020 Appendix report July 2021 — home.kpmg 1 GCC listed banks’ results Appendices Appendix 1 Country analysis Data tables Sources This is an interactive document. To explore more information please click on country names on the top of page. At any time, you can click on the home icon on the top right of each page to come back to content page. © 2021 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved. Saudi United Arab 2 GCC listed banks’ results Bahrain Kuwait Oman Qatar Arabia Emirates Bahrain Click to toggle Population (million)1 1.5 Nominal GDP (US$ billion)2 37.5 GDP per head (US$ at PPP)1 48,875.0 Inflation (%)2 1.5 Economic data as of 31 December 2020 Source(s): 1Economist Intelligence Unit, Bahrain — data by country; 2IMF estimates, Link, accessed on 28 June 2021. Summary Regulatory update In order to mitigate the impact of Covid-19 on the economy, CBB announced various economic measures for Sector overview licensees throughout 2020. In order to promote transparency and consistency amongst the financial The financial sector in Bahrain is the largest non-oil institutions during the pandemic, the regulator has contributor to the GDP, with 370 financial institutions announced the following important disclosure being licensed and regulated under the Central Bank of requirements and clarifications: Bahrain (CBB) regulatory regime as of 31 December 2020. This includes 24 conventional retail banks — Disclosure of financial impact of Covid-19 in the annual (including branches of foreign banks), and 49 and interim financial statements. conventional wholesale banks. The Islamic segment — Submission of readiness and reliability of the licensees’ includes six retail banks and 11 wholesale banks. Of business continuity and disaster recovery plans. these financial institutions, three conventional retail — Guidance paper on the ‘Covid-19 related money banks and five Islamic retail banks are listed on the laundering and terrorist financing risks and policy Bahrain Bourse and have been covered as part of this responses’. report. Financial performance Financial position The banking sector demonstrated resilience during 2020, Whilst the position of the retail bank’s total assets with six out of eight banks posting profits. However, the continues to grow over the years, the current year overall average profit of these listed banks declined by 37 witnessed a marginal increase of 2.3 percent compared percent year-on-year, on account of the higher provision with 8.9 percent in 2019. charge. ROE was in the range of 3–10 percent, whereas ROA did not demonstrate a significant positive or negative movement. The average LDR decreased by 1.6 percent year-on-year. Total assets (US$ billion) and net profit (US$ million) as of, and for the year ended, 31 December 2020 50.0 452.2 500.0 40.0 300.0 30.0 138.3 141.8 20.0 40.1 66.6 24.3 21.2 100.0 -33.4 profit Net Total assets Total 10.0 -41.7 28.2 11.6 6.0 10.0 8.4 2.7 0.0 3.2 -100.0 AUB Al Baraka Al Salam BISB BBK Ithmaar Khaleeji NBB Note: 2020 financial figures of NBB includes the effect of consolidation of BISB from January 2020. For source data refer to the data table (page 44–46) in Appendix II. © 2021 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved. Saudi United Arab 3 GCC listed banks’ results Bahrain Kuwait Oman Qatar Arabia Emirates Share price movement (US$) 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 12/31/2019 3/31/2020 6/30/2020 9/30/2020 12/31/2020 AUB Al Baraka Al Salam BISB BBK Ithmaar Khaleeji NBB Average Insights Looking back Overview Capital Adequacy Ratio (CAR) — It has been over a year since Covid-19 was declared as — The regulatory CAR for individual banks was reported a pandemic which has caused significant impact on in the range of 12.7–26.5 percent, which is above the human health and economic disruption across the minimum requirement of 12.5 percent. world. — As of 31 December 2020, the banks were well — This has resulted in economic slowdowns, leading to capitalized at an average CAR of 18.9 percent with a closure of certain businesses and loss of jobs, lower slight reduction of 0.9 percent compared with 2019. interest rates, reduced economic activities, reduced volumes of transactions. This had a direct and indirect Asset quality impact on the banking industry as evident from the — Non-performing loans (NPL) exposure (stage 3) decline in interest income and fee income, lower increased marginally by 3 percent, on an average. This demand for ancillary services, reduced revenue from includes four banks reporting increase in NPL other banking activities, increase in impairment exposures which was offset by decline in exposures in provisions due to increased uncertainty. All of this has the remaining four banks. led to declining profits, declining ROA and ROE, reduced CAR and marginal increase in the financial — The ratio of NPL remained stagnant at an average of 5 position of the banks. percent compared with 2019. The coverage ratio of NPL has marginally increased by 4 percent from 53.3 Asset growth percent as of 31 December 2019 to 57.5 percent as of 2020. — During the year, eight listed retail banks have witnessed a marginal average growth of 2.3 percent in Leverage and liquidity ratios the total assets and average increase in loan exposures of 5 percent compared with 31 December 2019. — As part of the CBB concessionary measures to combat Covid-19, the minimum regulatory requirement of Net profits Liquidity Coverage Ratio (LCR) and Net Stable Funding Ration (NSFR) were always relaxed to 80 percent to — Six out of eight listed banks have reported net profit for the opposed to original requirement of 100 percent. the year 2020, and the year-on-year profit has declined by an average of 37 percent. This decline is largely on — As of 31 December 2020, the LCR was in the range of account of increase in impairment charge, reduction in 103–395 percent and NSFR was in the range of 99– interest income on retail loans and deferral of credit 145 percent. card payments, leading to lower interest income and interest/penalty charges on credit cards, thereby resulting in lower revenue to the banks. © 2021 Copyright owned by one or more of the KPMG International entities. KPMG International entities provide no services to clients. All rights reserved. Saudi United Arab 4 GCC listed banks’ results Bahrain Kuwait Oman Qatar Arabia Emirates Outlook Looking ahead Supportive government measures Change in outlook In 2020, the disruptions due to Covid-19 and plunge in the Bahrain’s economy is expected to expand by 3.3 percent oil prices during early 2020 led to Bahrain’s real GDP to in 2021 with the expected growth of non-oil economy by decline by 5.8 percent and 10.2 percent in nominal terms. 3.9 percent in 2021. Further, in April 2021, Fitch has The oil sector contracted by 0.1 percent in real terms and affirmed Bahrain’s rating at 'B+’ with a ‘stable’ outlook. by 28.5 percent in nominal terms, while the non-oil sector This growth is supported by the government’s efforts to contracted both in real and nominal terms by 7 percent revive the economy by continuing concessionary and 7.3 percent, respectively, compared to 2019. measures and vaccination of the population. After a sharp decline in 2Q20 due to restrictions imposed As of 13 July 2021, 70 percent of the population has to contain the spread of the pandemic, the economy been vaccinated with both the doses and measures have started showing signs of recovery in 3Q20, owing to been taken to open borders to facilitate trade and concessionary measures implemented by the government tourism, which will help boost the economy. and the regulator. The financial services sector, which is Despite the circumstances caused by the pandemic, the largest non-oil contributor to the GDP, led the way in Bahrain hosted its first international public event, Formula terms of growth, registering an 11.6 percent increase in 1 race, which had a huge positive impact on the 4Q20 compared with the previous quarter. economy. Bahrain’s commitment toward health and well The economy will continue to be under concessionary being of its citizens and residents was demonstrated measures until 31 December 2021 with an objective to through the entry of only vaccinated individuals to the maintain liquidity and promote stability and possible event. growth in the future. The invention of vaccination for Covid-19, has resulted in positive sentiments across the world. However, the pandemic continues to spread and hence the government continues to impose restrictions from time to time. In addition to the concessionary measures by the government and regulators, Bahrain’s semi-autonomous government agency, ‘Tamkeen’ has announced its five- year strategy with regards to the country’s economic development. It aims to revive certain schemes to boost the economy. The key focus laid by Tamkeen will continue to be on two major areas: Business Development Program: — Aims to support emerging startups, expand access to finance, digitization and training opportunities. Supporting individuals through National Employment Program 2.0 — Aims to upskill Bahrainis, identifying potentional opportunities for growth, providing youth with on-the- job trainings and internships, workshops, vocational training initiatives to prepare for the suitable jobs in the market.
Load more

Recommended publications
  • Banking Sweet Spots a Markaz M&A Potential Score “MMAPS” Approach
    Kuwait Financial Centre “Markaz” R E S E A R C H April 2008 Banking Sweet Spots A Markaz M&A Potential Score “MMAPS” approach A key question facing Gulf Co-Operation Council (GCC) companies for 2008 and beyond is: “How to sustain growth?” Driven by high oil price and robust investment environment, GCC companies have been posting record growth in earnings. However, there comes a tipping point after which growth will have to be bought. This is where the potential of mergers and acquisitions in the region takes a center stage. We believe that the impetus to this nascent but burgeoning industry comes from internal pressure on companies to buy growth as well as keenness of foreign companies to have serious Middle East exposure. From a modest USD 812 million of Markaz Research is deal values in 2003, the level reached a staggering USD 55 billion by the end of available on Bloomberg 2007. Key take aways from this include: Type “MRKZ” <Go> Most of the deals are cash financed (77%) reflecting high liquidity GCC companies look for opportunities predominantly cross-border (foreign acquisitions) Acquisitions have been mostly cross-sectoral & Financial services, especially banks, have been the hot spot of activity The growth in the M&A space has been aided by several enablers including high economic growth and the keen need for local companies to position for competition in an environment where protection wall has been slowly but steadily dismantled. However, there are several inhibitors to this growth that will act as unnecessary speed breakers to this process.
    [Show full text]
  • Global Finance Names the Safest Banks in the Middle East 2019
    Global Finance Names The Safest Banks In The Middle East 2019 NEW YORK, September 17, 2019 — Global Finance has named the Safest Banks in the Middle East in an exclusive survey to be published in the November 2019 issue as part of the publication’s 28th annual ranking of the World’s Safest Banks. The top five positions are unchanged compared to 2018, and banks from the UAE and Kuwait performed well, with each taking four positions. The full report includes the following rankings: World’s 50 Safest Banks, World’s 50 Safest Commercial Banks, Safest Banks by Country, 50 Safest Banks in Emerging Markets, Safest About Global Finance Islamic Financial Institutions in the GCC, and Safest Banks by Region (Africa, Asia, Australasia, Global Finance, founded in Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe). 1987, has a circulation of 50,000 and readers in 188 “The Middle East remains mysterious to many outsiders, with cultural differences that sometimes countries. Global Finance’s translate into different business models, as with Islamic banking. The Global Finance ranking audience includes senior of the Safest Banks in the Middle East focuses on banks that remain islands of stability in this corporate and financial dynamic region, offering multinationals an invaluable yardstick for evaluating institutions in the officers responsible for making region,” says Global Finance publisher and editorial director Joseph D. Giarraputo. investment and strategic decisions at multinational Banks were selected through an evaluation of long-term foreign currency ratings—from Moody’s, companies and financial Standard & Poor’s and Fitch—of the 500 largest banks worldwide.
    [Show full text]
  • Mergers Dominate the Agenda As GCC Banks Continue Strong Performance
    AUTUMN 2019 GCC BANKING 35 Mergers dominate the agenda as GCC banks continue strong performance One quarter of all GCC commercial banks have been engaged in merger discussions over the past two years, and most of those discussions have ended successfully, with larger and more powerful institutions being created. Underlying this corporate activity has been strong financial performance among the leading players. Arab Banker’s Editor, Andrew Cunningham, reviews recent developments and looks for explanations for the recent increase in merger activity. n one sense, GCC banking is remarkably stable. This year’s Among the smaller banks, Sharjah-based Investbank listing of the biggest GCC commercial banks, based on reported a large net loss and has since been recapitalised Iend-2018 shareholders’ equity, contains the same 50 banks by the Government of Sharjah, which injected Dh1.12 bn as it did last year, with only one exception: International ($305 mn) for a 50.1% stake and appointed a new chairman. Bank of Qatar falls out of the list because it did not publish Even after the re-capitalisation, rumours continued of a full-year financial statements for 2018, pending its merger possible merger between Investbank and two of the other with Barwa Bank, which was completed in April this year. three Sharjah-based banks, Bank of Sharjah and United Arab The rank order of the biggest GCC banks has changed, Bank. (The fourth is Sharjah Islamic Bank.) but not by much, and hardly at all among the bigger banks. Sharjah’s need for four domestic banks has been Dubai Islamic Bank pushed Saudi British Bank out of the top questioned for decades, although mergers have always been 10, but there were no other changes at the top of the table.
    [Show full text]
  • 1 Executive Summary Kuwait Is the Third
    Executive Summary Kuwait is the third-largest economy in the Gulf Cooperation Council (GCC, after Saudi Arabia and the UAE), and the Government of Kuwait has taken preliminary steps toward liberalizing sectors of its economy in the past year. Legislation passed in 2013 including a new FDI law and a commercial companies law aimed at easing constraints to doing business in Kuwait, and at establishing a “one stop shop” to help companies start operations in Kuwait. In March 2014, the Central Bank of Kuwait announced that foreign banks could open multiple branches in Kuwait – until that time, they could only open one branch. The April 2014 passage of historic telecommunications legislation potentially signals the government may liberalize the telecom sector and create opportunities for more competition in the coming years. After years of delays, the state oil companies in 2014 awarded several high-value contracts to foreign consortia to expand refinery capacities in Kuwait. Moves toward privatization of Kuwait’s stock exchange and its national airline have also begun. Nevertheless, Kuwait is perceived as a difficult place to invest in and do business with, and challenges to operating in the country remain. Kuwait ranked 104th in the world, and lowest in the GCC, on the World Bank’s 2014 ease of doing business survey, and the country has consistently attracted the lowest amounts of FDI in the entire Middle East and North Africa region. Implementation of new legislation has lagged, and significant barriers to foreign investment remain, including regulations barring foreign entities from the petroleum and real estate sectors, long bureaucratic delays in starting new enterprises, and a local business culture based on clan and family relationships that can be difficult for foreigners to navigate.
    [Show full text]
  • Overview of Kuwait Banking Sector
    0 Disclaimer THE INFORMATION SET OUT IN THIS PRESENTATION AND PROVIDED IN THE DISCUSSION SUBSEQUENT THERETO DOES NOT CONSTITUTE AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SELL SECURITIES. IT IS SOLELY FOR USE AT AN INVESTOR PRESENTATION AND IS PROVIDED AS INFORMATION ONLY. THIS PRESENTATION DOES NOT CONTAIN ALL OF THE INFORMATION THAT IS MATERIAL TO AN INVESTOR. This presentation has been prepared by (and is the sole responsibility of) Al Ahli Bank of Kuwait K.S.C.P. (the “Bank”). The information herein may be amended and supplemented and may not as such be relied upon for the purposes of entering into any transaction. This presentation may not be reproduced (in whole or in part), distributed or transmitted to any other person without the Bank's prior written consent. The information in this presentation and the views reflected therein are those of the Bank and are subject to change without notice. All projections, valuations and statistical analyses are provided to assist the recipient in the evaluation of the matters described herein. They may be based on subjective assessments and assumptions and may use one among alternative methodologies that produce different results and, to the extent that they are based on historical information, they should not be relied upon as an accurate prediction of future performance. These materials are not intended to provide the basis for any recommendation that any investor should subscribe for or purchase any securities. This presentation does not disclose all the risks and other significant issues related to an investment in any securities/transaction.
    [Show full text]
  • Annual Report 2019
    NUMBERSTALK 9Annual Report 2019 BAHRAIN KUWAIT UAE UK EGYPT IRAQ OMAN 9LIBYA Constantly striving to provide greater levels of shareholder and customer satisfaction by delivering ever higher 9standards of performance % increase in Total Assets to US$ 40.3 billion 13.4 compared to 2018 % increase in Net Profit to US$ 730.5 million 4.7 compared to 2018 % increase in Shareholders’ Equity to US$ 4.3 billion 9.1 compared to 2018 Ahli United Bank Annual Report 2019 02 CONTENT 04 06 GROUP MISSION STATEMENT AUB OPERATING DIVISIONS 08 16 18 FINANCIAL HIGHLIGHTS BOARD OF DIRECTORS’ REPORT BOARD OF DIRECTORS 22 24 27 CHAIRMAN’S STATEMENT GROUP CHIEF EXECUTIVE OFFICER & CORPORATE GOVERNANCE MANAGING DIRECTOR’S STATEMENT 48 55 56 GROUP BUSINESS AND RISK REVIEW GROUP MANAGEMENT GROUP MANAGEMENT ORGANIZATION STRUCTURE 59 61 131 CONTACT DETAILS CONSOLIDATED FINANCIAL PILLAR III DISCLOSURES - BASEL III STATEMENTS Ahli United Bank Annual Report 2019 03 Group Mission Statement To create an unrivalled ability to meet customer needs, provide fulfilment and development for our staff and deliver outstanding shareholder value. Ahli United Bank Annual Report 2019 04 OBJECTIVES AUB VISION & STRATEGY • to maximise shareholder value on a sustainable basis. • Develop an integrated pan regional financial services • to maintain the highest international standards of corporate group model centered on commercial and retail banking, governance and regulatory compliance. private banking, asset management and life insurance with an enhanced Shari’a compliant business contribution. • to maintain solid capital adequacy and liquidity ratios. • Acquire banks and related regulated financial institutions in • to entrench a disciplined risk and cost management the Gulf countries (core markets) with minimum targeted culture.
    [Show full text]
  • GCC Equity Funds AUM Shrink by 46% from April 2008 February 2009 the GCC Markets Experienced a Rollercoaster Ride in 2008
    Kuwait Financial Centre S.A.K “Markaz” R E S E A R C H GCC Equity Funds AUM Shrink By 46% from April 2008 February 2009 The GCC markets experienced a rollercoaster ride in 2008. The first half of the year was characterized by a boom in property markets and record high prices of oil as well as other commodities that fuelled concerns of high inflation. However, the second half was a contrast, with commodity prices cooling down and crude prices plummeting 70% from their highs of USD147 per barrel in July. Property prices also crashed as the global credit crisis engulfed the financial markets. Consequently, investor sentiment turned negative, fund managers began hording cash, and investors began redeeming. Consequently, assets under management (AUM) for both country specific and pan-GCC funds have experienced a severe contraction Markaz Research is of 46% from April 2008 (Figure 1). The most contraction has been in available on Bloomberg Bahrain funds, where AUM’s have plunged 75% in the eight month period Type ―MRKZ‖ <Go> (April – December 2008), followed by the UAE, which saw a 62% decline Thomson Financial in AUM. The country with the least contraction was Kuwait, where AUM Reuters Knowledge declined 26.6% from USD 6.37 bn in April 2008 to USD 4.7 bn in Zawya Investor December 2008. Conventional Funds AUM declined 46% from USD 13.7 Noozz bn in April 2008 to USD 7.4 bn in December while Islamic Funds AUM shrank 45.6% to USD 4.4 bn in December 2008 (Appendix 8).
    [Show full text]
  • Al-Ahli Bank of Kuwait
    Health Check of Oracle AML Solution for Al-Ahli Bank of Kuwait CASE STUDY 2019 - JMR Infotech Authored by: Project Manager, Enterprise Risk & Analytics Copyright © 2020 JMR Infotech www.jmrinfotech.com CASE STUDY | Al-Ahli Bank of Kuwait 02 Health Check of Oracle AML solution for Al-Ahli Bank of Kuwait Al-Ahli Bank, Kuwait partnered with JMR to conduct a review of their AML application to validate if the application is effectively and efficiently helping in meeting its compliance objectives. Executive Summary Bank has been using Oracle AML application since 2016 to meet its regulatory and compliance requirements for its domestic and overseas operations. As a part of continuous improvement Bank decided to conduct a review of the current AML application to validate if the application is effectively and efficiently helping in meeting its compliance objectives. The objective of the review exercise is to review the processes, configurations, inputs and outputs from AML application and to improve and optimize the usage of the application. Business Challenges Validate application is configured and functioning properly and is geared to meet compliance objectives by: Performing end to end health check covering the alert investigation process, configuration, data mapping Verifying if Regulatory and MIS reporting requirements of compliance is met and identify gaps if any Identifying functionalities not being currently leveraged Providing a report of findings on changes that need to be done in the AML application Provide training to compliance and technical team to address knowledge gap JMR’s Unique Approach Understand current configuration and issues pre-built questionnaire Questionnaire covered functional and technical aspects Critically evaluate system usage, configuration based on information obtained.
    [Show full text]
  • Investment and the Stock Market: Evidence from Arab
    AMF Economic Papers, Number 11 Market Structure and Performance in the GCC Banking Sector: Evidence from Kuwait, Saudi Arabia, and UAE Ibrahim Al-Karasneh and Ayten M. Fatheldin Economic Policy Institute Arab Monetary Fund Abu Dhabi, March 2005 Market Structure and Performance in the GCC Banking Sector: Evidence from Kuwait, Saudi Arabia, and UAE Ibrahim Al-Karasneh and Ayten M. Fatheldin∗ Economic Policy Institute Arab Monetary Fund ∗ Al-Karasneh, Economist, Economic Policy Institute (EPI), Arab Monetary Fund; and Fatheldin, Research Assistant, EPI. AMF Economic papers are written by members of the Economic Policy Institute of the Arab Monetary Fund, from time to time by other economists, and are published by the Fund. The papers are on subjects of topical interest to the Arab countries. The views expressed in them are those of their authors and do not necessarily reflect the views of the Arab Monetary Fund. Copies of publications are available from: Arab Monetary Fund P. O. Box 2818 Abu Dhabi, United Arab Emirates Fax: 971-2-6326454 Arab Monetary Fund 2005. All rights reserved. Brief excerpts may be produced or translated provided the source is stated. Table of Contents Abstract......................................................................................................2 1. Introduction ...........................................................................................3 2. Overview of the Kuwaiti, Saudi and UAE Banking Sectors .............7 3. Banking Market Concentration...........................................................9
    [Show full text]
  • AL AHLI BANK of KUWAIT DELIVERS a BEST-IN-CLASS DIGITAL BANKING EXPERIENCE Leveraging Finacle Digital Engagement Suite Profile Solution Highlights
    AL AHLI BANK OF KUWAIT DELIVERS A BEST-IN-CLASS DIGITAL BANKING EXPERIENCE Leveraging Finacle Digital Engagement Suite Profile Solution Highlights Al Ahli Bank of Kuwait (ABK), established With Finacle, ABK wanted to enhance in 1967 is one of the leading banks both its online and mobile banking based out of Kuwait with a network of 72 experience with features such as cardless branches. The bank has an asset size of withdrawal, unified login credentials, USD 12.2 billion with a share capital of mobile bill payments and iTunes card USD 0.55 billion. ABK’s long term regional purchases, biometric authentication for aspirations have led to strategic alliances Android, touch ID for older Apple devices with world-class financial partners. Over and Face ID for iPhone X, instant pay, and USD 12.2 billion in assets the last half century ABK has grown recurring and scheduled transfers. to become one of the most respected and innovative banks in the region. The Finacle Mobile Banking Solution 72 branches With a clear vision of strengthening its helped ABK make its mobile banking leadership in the region, ABK has been at experience more intuitive and secure. One of the leading banks in the forefront of technology investments. With greater agility, customer centricity, the Middle East ABK has also set new benchmarks for multi-modality and enterprise class innovative products and services to compatibility, the solution is helping simplify banking for its customers. the bank offer a seamless customer Objective Overview experience. Simplify digital banking Today, the digital native customers demand The bank’s mobile app allows experience convenience and innovative offerings customers to: from businesses.
    [Show full text]
  • BANKS in the ARAB COUNTRIES Mashreq Bank Citibank Mashreq Bank Unicorn Investment Bank M
    AL BAYAN BUSINESS GUIDE BANKS & INVESTMENT COMPANIES IN THE ARAB COUNTRIES Central Bank Jammal Trust Bank Dr. Farouk Al Oukda M. Nabil Kamal Al Hakem Tel:3931514 - Fax:3926211 Tel: 7948260-7957365 - Fax: 7957651 www.cbe.org.eg www.jammalbank.com.lb BANKS IN THE ARAB COUNTRIES Mashreq Bank CitiBank Mashreq Bank Unicorn Investment Bank M. Michel Akkad Tel: 5710419 - Fax: 5710423 Rayan Algerian Bank Bahrain & Kuwait Commercial Bank of Bahrain www.mashreqbank.com Tel: 7951874 - Fax: 7957743 ALGERIA M. Madjid Nassou M. Kaled Chahine M. Mohammad El Zamel Tel:17 210114- Fax:17 213516 -Box: 20654 Tel:17 566000 - Fax: 17 566001 Misr www.citibank.com/egypt Agriculture & Devel Rural Tel:21 449900 - Fax:21 449194 Tel:17 223388-Fax:17 229822-Box: 597 Tel:17 220199-Fax:17 224482-Box: 793 Melli Iran www.unicorninvestmentbank.com M. Mohammad Barakat Commerce & Development M. Farouk Bouyacoub www.alrayan - bank.com www.bbkonline.com www.cbbonline.com Tel:17 229910-Fax:17 224402-Box: 785 United Bank Tel: 3910656 - Fax: 3906555 M. Fathi Yassin Ali Tel:21 634459 - Fax:21 635746 Trust Bank Algeria Commerzbank E-mail: [email protected] Tel:17 224030-Fax:17 224099-Box: 546 www.banquemisr.com.eg Bahrain Development Bank Tel: 3475584 - Fax: 3023963 Algeria Gulf Bank M. George Abou Jaoudeh Tel:17 531431- Fax:17 531435- Box: 11800 Merril Lynch United Gulf Bank Misr International M. Nidal Oujan www.bcdcairo.com M. William Khouri Tel:21 549755 - Fax:21 549750 E-mail: [email protected] Tel:17 530260-Fax:17 530245-Box: 10399 M.
    [Show full text]
  • جمعية مصارف اإلمارات Ss Bank Ss Association Emirate Newslette Rr
    جمعية مصارف اﻹمارات جمعية مصارف اﻹمارات Emirates Bank s Association S.W.I.F.T. User Group (U.A.E. ) News letter News letter مجموعة مستخدمي سويفت ( اﻻمارات) SWIFT Us er Group (U.A .E) Contents Pages Introduction 1 Events & News 2 SWIFT User Group (U.A.E), membership 3 - 4 Statistics 5 - 10 Abu Dhabi – United Arab Emirates – P.O. Box 44307- Tel: (971-2) 4467706 – Fax : 4463718 E-mail : [email protected] Website : www.eba-ae.com Emirates Banks Association /SUG (UAE) Newsletter - Volum16, Issue 4 No. (62) Fourth Quarter (October – December) 2011 0 Emirates Banks Association SWIFT User Group (UAE) Volume 16, Issue 4 No. (62) December. 2011 To : All Members of SWIFT User Group (UAE) After Greetings, We are pleased to introduce to you our Quarterly Newsletter (Volume 16, Issue 4- No.62) about SWIFT operations in the UAE and the GCC, covering the period from October to December 2011. Please note that all the statistics herein, are selected and /or extracted from the SWIFT publications. Looking forward to have any views or comments from you on this newsletter, which will be highly appreciated, for the sake of its improvement. Assuring you of our best cooperation, we remain . Sincerely yours, Fathi M. Skaik General Manager EBA Chairperson SWIFT User Group (UAE) Emirates Banks Association /SUG (UAE) Newsletter - Volum16, Issue 4 No. (62) Fourth Quarter (October – December) 2011 1 Events & News ـــــــــــــــــــــــــــــــــــ SWIFT Regional Conference for the Middle East: Registration is opened www.swift.com for this conference which will take place in Abu Dhabi from 27-28 March 2012 : Venue: The Westin Abu Dhabi : Gulf Resort & Spa Abu Dhabi Gulf Club Sas Al Nakhl – Abu Dhabi United Arab Emirates Emirates Banks Association /SUG (UAE) Newsletter - Volum16, Issue 4 No.
    [Show full text]