Abu Dhabi-based Al Hilal expects double-digit growth in profits for 2011, aims to open four new branches by year-end.
Al Hilal Chief Executive Officer Mohamed Berro said, “Our retail and corporate side are growing well. Healthy, double-digit growth in 2011 is sustainable.” The bank is considering launching a Sukuk in 2012 and would seek a ratings agency view ahead of any issuance. “You might see Al Hilal going to the capital markets for diversification of funding, if not at the end of this year, then next year,” Berro said. “A rating is on the frontburner……………………………………….Full Article: Source