May 12, 2013

7% of people surveyed had experienced this three times or more in the past year - representing more than half a million people.

The survey also showed some interesting differences in attitudes when it comes to consumers and their attitudes towards fraud and their cards.

For example, 27% of respondents in UAE aren't interested in having the ability to set restrictions on how their card is used (for example limiting spend to certain countries, types of retailer, online or offline etc).

3% said they never even think about being a victim of fraud, and 11% admitted they don't always check their bank statements - they trust their banks to spot any fraud that occurs. However, 81% would like the option to receive an alert on their mobile phone whenever their credit or debit card...

May 12, 2013

The Customer Service Unit is located within the Village Community Centre at Arabian Ranches.
HSBC Bank Middle East Limited acquired the onshore retail and commercial banking assets and liabilities of Lloyds Banking Group (Lloyds TSB Middle East) in the UAE back in 2012.
In addition to approximately 8,800 personal banking and commercial customers and a loan book of approximately US$573m (as at 31 December 2011), the onshore assets also included one branch in Jumeirah and one Customer Service Unit (CSU) in Arabian Ranches.
Rick Crossman, Head of Retail Banking and Wealth Management, UAE, said:"We are seeing an evolution from speed to convenience in retail banking in the UAE and we are charting customer demands in terms of our physical presence. Our strategy focuses on a new customer...

May 9, 2013

The new Visa Easy Payment Service (VEPS) has been launched at the new Waitrose store on Al Thanya Road in Umm Suqueim, Dubai which opened recently. The service is also expected to be available at all Waitrose and Spinneys stores in the UAE very soon, giving Visa debit and Visa credit cardholders the option to simply swipe their cards at the POS, without the need to enter a pin or sign a receipt. The service will also be rolled out to Spinneys stores in the UAE this month.

Mohanish Agni, Head of Acceptance for MENA at Visa, said: "Visa is delighted to be collaborating with Waitrose, and shortly Spinneys, as part of our ongoing commitment to create the best possible experience for Visa cardholders across the region. As the first offering of its kind in the region, Waitrose and Spinneys...

May 5, 2013

The ratings are assigned to the programme and not to the certificates issued under the programme. There is no assurance that certificates issued under the programme will be assigned a rating, or that the rating assigned to a specific issue under the programme will have the same rating as the rating assigned to the programme.

The ratings assigned to the programme are equalised with CBD's Long-term and Short-term Issuer Default Ratings (IDRs). The ratings would therefore be sensitive to any change in CBD's IDRs.

Established in 1969, CBD has a well-established corporate banking franchise in the UAE. The bank is increasing expansion in retail banking, SME finance and Islamic banking to diversify its business and earnings. Listed on the Dubai Securities Market, CBD is 20% owned by...

April 29, 2013

This consistent upward trend has led to increasing interest in the upcoming Africa Global Business Forum (AGBF) 2013, which is being organised by Dubai Chamber and COMESA Regional Investment Agency, under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, from May 1- 2, 2013.

Emirates NBD also announced that it will serve as the Diamond sponsor for the AGBF 2013.

"The UAE's strategic location, state-of-the-art infrastructure development and excellent international connectivity, position it as the natural bridge between the emerging and frontier markets of the east and the developed markets of the west," said Saif Al Mansoori, Deputy Head - Group Marketing & Branding, Emirates NBD.

"The growing...

April 25, 2013

KEY RATING DRIVERS: IDRS, SUPPORT RATING AND SUPPORT RATING FLOOR

ADCB's Long- and Short-term IDRs, Support Rating and Support Rating Floor reflect Fitch's belief that there is an extremely high probability of support from the UAE authorities and the emirate of Abu Dhabi if required. This is based on the strong history of support for local banks from the UAE authorities, the Abu Dhabi government's 62% stake in ADCB (58% via the Abu Dhabi Investment Council) and the bank's systemic importance.

Liquidity support and term funding have been provided by the UAE authorities to all the local banks in the system, including ADCB, since the global financial crisis. In addition, the Abu Dhabi authorities' separately injected perpetual hybrid Tier 1 capital into the leading Abu Dhabi banks...

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 khaliji (KCBK), in Qatar, announced its financial results for the first quarter of 2013, reporting a Net Profit of QR 131.5 million. This represents an increase of 8% over its financial results for the same quarter"...

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 that delivers the transparency, governance, and structural risk mitigation required by investors.

Within"...

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 No. 2 Ranking in Global Investment Bank Fees; up 26 Percent From Q1-12 to $1.5 Billion
• Noninterest Expense Down Nearly $1.0 Billion From Q1-12, Driven Primarily by Project New BAC Initiatives
• Significant Progress in Legacy Assets and Servicing;"...
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