30.10.2012 - Gulf Arab banks reap benefits from consolidation
While more Western banks reported worrisome news this month, most lenders in the Gulf Arab region celebrate a comeback after streamlining their businesses and joining hands with other institutions. consolidation and innovation gained momentum in the Gulf Arab financial sector. Emirates NBD said it will integrate Dubai Bank, which it took over a year ago, into its subsidiary Emirates Islamic Bank. Its rival Noor Islamic Bank, which was hit hard by the financial crisis and had to close branches, celebrated a comeback when it launched in mid October the UAE's first online-banking fully compatible with smart phones...............................................Full Article: Source
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