Commenting on the appointment, Zak Hydari said: "I'm delighted to announce the promotion of Eric Swats to Senior Executive Officer of RIBL.
RIBL has also appointed David Marshall as Head of Products with overall responsibility for the creation, management and distribution of RIBL's investment services and products supported by a new business development team covering clients in the Middle East, Asia, Europe and the US.
Source: RIBL Financial Reports & Global Research
RIBL posted an encouraging YoY asset base growth of 42.
RIBL also agreed to pay a financial penalty of $60,000 (AED 220,200) to the DFSA of which $30,000 (AED 110,100) is payable on or by 17 November 2016.
The DFSA acknowledges that RIBL co-operated fully with the DFSA's inquiries, and has already carried out significant remedial work.
On the positive side, Bank Albilad, SHB, RIBL
and Al-Rajhi Bank topped the list in Q3, 2010, as their banking fees grew by around 23 percent, 19 percent, 12 percent and 6 percent, respectively, largely attributed to a climb in money transfers as well as higher fees on corporate account related transactions.
has one of the lowest NPL ratios at 137 per cent (vs.
We choose to play SAMBA and SIBC (strong Q1 for both), ARNB (cheap valuation, potential to accelerate loan growth after a disappointing Q1), and RIBL
We choose to play SHB (reinforced by strong Q4), SAMBA (growth), and RIBL
We continue to prefer the larger banks AlRajhi, RIBL
and Samba owing to their ability to capture the retail segment and their attractive valuations.