Emirates NBD and Abu Dhabi Commercial Bank posted strong third quarter results.
The lender made a net profit attributable to equity holders of Dhs1.02 billion.
ENBD’s earnings have been given a lift in recent quarters by a resurgence in the Dubai economy.
The private equity firm has been in exclusive talks for months to buy a controlling holding in the restaurant group.
The investment firm aims to write-off of $327.9 million of its losses through a capital reduction.
Currently, around 25 per cent of the firm’s funds come from Asia and the Middle East.
The company made a net profit of SAR232 million ($61.8 million) in the third quarter, up from SAR229 million in the corresponding period of 2013, according to a bourse filing.
The bank said it made a profit of SAR1.28 billion ($341.2 million) in the three months to Sept. 30, up from SAR1.17 billion in the same period a year earlier.
Oman needs a relatively high oil price to balance its budget, so its state finances are more vulnerable than most to the drop of Brent crude oil to around $85 a barrel.
This will be the second initial public offering (IPO) in Qatar after a long period.
The lender made QAR1.1 billion in the year-to-September 30, compared to QAR1 billion in the year earlier period, a bourse statement said.
Each of the three big IPOs currently in Saudi Fransi’s pipeline is larger than SAR1 billion ($267 million), the company’s chief executive said.
The company’s logistics and freight forwarding businesses, which account for most of its revenue, have been hit by instability in the global economy over the last few years.
EY ranked first in terms of the volume of published material while Deloitte produced almost a third of consulting thought leadership material, a new report finds.
Dubai’s benchmark edged down 0.4 per cent as shares in builder Arabtec Holding fell 2.6 per cent and Emaar Properties lost 0.6 per cent.
Waha Capital has secured regulatory approval to buy back up to 10 per cent of its outstanding shares.
Net profit for the nine months to Sept. 30 was QAR1.43 billion, compared with QAR1.25 billion in the same period a year ago.
Aramex founder Fadi Ghandour said plans are under way to acquire firms in the emerging markets of Africa, Asia and Turkey.
The Islamic lender made a net profit of QAR1.1 billion ($300 million) during the period, a company statement said, up from QAR975.1 million in the same period a year ago.
Net profit for the third quarter was QAR1.4 billion ($384.5 million) compared to QAR1.2 billion in the same period a year ago, a bourse filing said.
Dubai’s index, which was up as much as 2.5 per cent early in the session, fell 0.4 per cent by mid-day as the pan-European FTSEurofirst 300 index edged down 0.6 per cent.
CBK has now reduced its non-performing loans to 1.3 per cent of its total loan book from a 2009 level of 25 per cent.
State-owned National Commercial Bank, which has about $116 billion of assets, currently has a mixed business.
The bank expects to post double-digit loan growth in the next 12 months, its CEO says.
The company made a net profit of SAR303.74 million ($81.0 million) in the third quarter, up from SAR282.08 million in the year-earlier period.
The firm made a net profit of SAR691.3 million ($184 million) in the third quarter, down from SAR864.8 million in the same period of 2013, a statement to the Saudi bourse said.
As part of a US settlement in August, the bank was given 90 days to end high-risk relationships with SMEs in the UAE.
The company’s chief executive said that the fund is looking to invest in sectors such as power and water, oil and gas, healthcare and education.
Worries about weak earnings report on growth and business had sent Middle East bourses tumbling, with Dubai’s index down 13.6 per cent last week
Under the plan approved at a board meeting on Thursday, MMG’s capital will be cut from SAR1.25 billion to SAR125 million, creating one share for every 10 shares currently possessed.