Banking

Bloomberg Trading volumes in the credit-default swaps market — where banks and fund managers go to hedge against losses on corporate and government debt — have surged. Transactions tied to individual entities doubled in the four weeks ended Feb. 5 to a daily average of $12 billion, according to a JPMorgan Chase & Co. analysis of trade repository data. The ...

Dubai / Emirates Business Emirates NBD , has been awarded the Human Resource Development Award in the banking and financial sector by EIBFS (Emirates Institute of Banking and Financial Studies) in recognition of its commitment to Emiratisation. The award was presented by H.H. Dr. Sheikh Sultan bin Mohammed Al Qasimi to Husam Al Sayed General Manager HR, Emirates NBD. This ...

Nanama / Emirates Business A new report by KPMG has revealed that Bahrain enjoys some of the region’s lowest operating costs for financial services institutions. The report covered the average costs of a range of factors including commercial rental rates, occupancy cost, manpower cost, communication and utility expenses, in addition to the average cost of living. Financial sub-sectors that require ...

Manama / Emirates Business Khaleeji Commercial Bank (KHCB), one of Bahrain’s leading Islamic retail bank, formally inaugurated the opening of a new branch located in Juffair Mall, Juffair. With the launch of the new branch the Bank now has a network of 11 branches in the Kingdom of Bahrain from which to deliver its innovative banking products and services. The ...

Abu Dhabi / Emirates Business Al Hilal Bank is pleased to announce the dividend payout of its flagship fund, the Al Hilal Global Sukuk Fund. The Fund, which was launched in March 2012, distributed a 1.78% dividend to all registered unit holders as of January 27, 2016. Al Hilal Global Sukuk Fund’s objective is to generate a regular stream of ...

Bloomberg Zuercher Kantonalbank, Switzerland’s fourth- biggest bank, said it’s considering acquisitions in the country’s shrinking private banking sector as smaller rivals struggle with rising costs and negative interest rates. “Domestic private banking is interesting if it offers a certain size and is a good fit,” Martin Scholl, ZKB’s chief executive officer, said in an interview Friday. He said ZKB is ...

BLOOMBERG Bank of America Corp. (BoA) awarded Chief Executive Officer Brian T. Moynihan $16 million for his work last year, raising his potential compensation 23 percent. Moynihan received $14.5 million in stock grants for 2015 and left his salary unchanged at $1.5 million, according to a regulatory filing Friday. A year earlier, the Charlotte, North Carolina-based bank gave the CEO ...

Abu Dhabi / Emirates Business Finance House (FH) has reported a consolidated net profit at the group level of AED 61.7 million for the financial year ended December 31, 2015 compared to a consolidated net profit of AED 73.3 million achieved in the previous year. Total Assets as of December 31, 2015 grew by 4% to AED 5.04 billion compared ...

Bloomberg Royal Bank of Scotland Group Plc hired the head of Asia wealth management at JPMorgan Chase & Co. to lead its private-banking businesses, as Michael Morley steps down. Peter Flavel will join as chief executive officer of private banking, responsible for RBS’s Coutts & Co. and Adam & Co. businesses, the Edinburgh-based bank said in a statement on Thursday. ...

Bloomberg State Bank of India, the country’s largest lender by assets, posted the slowest profit growth in four years as provisions for bad loans almost doubled from the previous quarter. Net income fell 62 percent to 11.2 billion rupees ($164 million), or 1.43 rupees a share, for the three months ended Dec. 31, from 29.1 billion rupees, or 3.9 rupees, ...