Commercial Bank of Kuwait SAK gained the most in more than a week on investor bets the lender is poised to gain after it cleaned up its bad debts.
The United Arab Emirates central bank capped the size of mortgages that banks in the country can offer as it moves to avoid a repeat of a property bubble that caused values to plummet after 2008.
After five years living in Dubai, Akanksha Goel and her husband decided to buy a property instead of paying $68,000 a year to rent their three-bedroom house.
Egypt’s increased reliance on local lenders to finance its budget shortfall may stifle any economic recovery by reducing the incentive of banks to lend to companies.
Banks in the United Arab Emirates will be required to comply with four so-called “liquidity ratios” to help them withstand market disruptions and avoid a cluster of debt payments, according to new central bank rules.
Tamweel PJSC soared the most in more than a year amid bets Dubai Islamic Bank PJSC will revive a bid to buy the 13.6 percent stake it doesn’t already own in the Dubai-based mortgage provider.
Union National Bank PJSC declined the most in more than three years after the lender, whose shareholders include the Abu Dhabi and Dubai governments, cut its full-year cash dividend by 33 percent.
Tamweel PJSC , the home finance company majority owned by Dubai Islamic Bank PJSC , tumbled 10 percent as it resumed trading more than two years after being suspended pending its reorganization.
Dubai Islamic Bank PJSC, the world’s oldest Shariah-compliant lender, may need to boost capital to absorb bad loans stemming from a real estate slump to avert a possible ratings downgrade.
Credit Agricole SA and Societe Generale SA may be among European banks with the most at risk from the Greek crisis because of unprofitable units in the country.
"International expansion usually coincides with lower profitability because you are entering markets you do not know."
- Jaap Meijer on Aug 11, 2013