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UBS clients pull $15.2bn in quarter as margins decline

  Bloomberg UBS Group AG suffered a net 15.2 billion francs ($15.2 billion) in withdrawals during the final three months of last year, in part because investors moved money out of Switzerland before the government shares their data with tax authorities, a trend that’s expected to continue this year. The bank fell as much as 3.9 percent in Zurich trading, ...

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Barclays to expand Dublin office post Brexit

  Bloomberg Barclays Plc has settled on Dublin for its main hub inside the European Union after Brexit and is planning to add about 150 staff there if UK-based finance companies lose easy access to the trading bloc, according to people with knowledge of the decision. The bank started scouting the city for office space this month and has been ...

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Arab Bank reports 20% growth in profit

  Emirates Business Arab Bank Group announced its 2016 results reporting a growth of 20% in net profits. Net operating income before provisions and taxes exceeded US$1.1 billion, whilst the Group’s net profit after tax reached $533 million for the year 2016 as compared to US $ 442 million for 2015. Excluding the effect of foreign currency devaluations, the Bank ...

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