BANKING - Emirates NBD eyes Turkey for opportunities

thenational.ae - Emirates NBD is planning an overhaul of its customer service practices as it attempts to drive up the size of its consumer banking business.

The biggest bank in the UAE by assets, Emirates NBD is aiming to generate 50 per cent of group revenues from its retail banking operations, said Rick Pudner, the bank's chief executive.

"We're going to go back to basics and tweak our efficiencies," he said. "The key priority is making the bank hum. It's working well, but we need to fine-tune and make it more efficient." (source)

BANKING - SHARJAH Islamic bank planning to open shop in Turkey

businessweek.com - Sharjah Islamic Bank (NBS UH), a United Arab Emirates-based lender, may buy or establish an Islamic bank in Turkey, deputy chief executive Ahmed Saad said. (source)

FINANCE - Emirates NBD announces Q3 2011 results with operating profit of Dhs5.0bn (yndicated term loan and murhaba financing facilities for banks based in Turkey)

ameinfo.com - Emirates NBD announced its results for the nine months ended 30 September 2011. Positive and resilient operating performance with pre-impairment operating profit of Dhs5.0bn for the 9 months ended 30th September 2011 and Dhs1.8bn for Q3 2011, the highest quarterly level this year.

Net profit for the 9 months ended 30th September 2011 of Dhs2.3bn, up 20% compared with the same period in 2010. Earnings per Share for the period up 23% to Dhs0.38.  (source)

CAPITAL MARKETS - Noor Islamic Bank leads US $1.4bn Islamic Finance Mandates in Turkey

wam.ae - WAM Dubai, Oct. 23, 2011 (WAM) -- Noor Islamic Bank (Noor) has been mandated to arrange and lead manage more than US $1.4 billion Islamic finance capital market deals in Turkey in the last 18 months, making it the most active UAE bank in the republic.

Noor released details of its financial dealings in Turkey on the eve of the Islamic Investment and Finance Forum, scheduled to take place in the Turkish capital Istanbul, from October 24-27. Noor is the Sukuk partner for the event.  (source)

ECONOMY - UAE- Turkey Joint Committee establishes new phase cooperation in various vital fields

Abu Dhabi, 12 Feb 2011 (WAM) - Sultan bin Saeed Al Mansoori, UAE Minister of Economy emphasizes the results of meeting of UAE - Turkey Joint Economic Committee which were held from 8 to 10 February 2011 in Abu Dhabi. The Committee discussed key topics to strengthen bilateral relations, particularly economic, trade and investment cooperation between both countries. (source)

FINANCE - SCA signs MoU with Turkey on joint listing

ABU DHABI -- The Securities and Commodities Authority or SCA has signed a Memorandum of Understanding (MoU) with the Capital Markets Board of Turkey (CMB) that would lay the foundation for joint listing in the future and greater cooperation between the two corporate regulators and stock exchanges. 

FINANCE - Turkey offers big opportunities for UAE businesses

DUBAI -- A recently-released Dubai Chamber of Commerce & Industry study on Turkey's economic status maintained that the country could hold lucrative opportunities for the UAE businesses, not only for trade and investment in the domestic market, but also in partnership with Turkey, in investment and trade with Africa, Central Asia and Eastern Europe.