CAPITAL MARKETS - Al Baraka revives debut sukuk on record-low yields

www.gulfnews.com -Dubai: Nine months after cancelling its debut sale of Islamic bonds because yields were too high, Al Baraka Banking Group’s Turkish unit is back approaching investors as borrowing costs tumble to record lows.

Al Baraka Turk Katilim Bankasi AS will offer as much as $250 million (Dh917 million) of seven-year dollar-denominated sukuks this year, the group’s Chief Executive Officer Adnan Yousuf said by phone on August 27 from Alexandria, Egypt. The average sukuk yield globally has fallen 91 basis points this year to an all-time low of 3.09 per cent, according to the HSBC/NASDAQ Dubai US Dollar Sukuk Index. The premium to own Islamic debt rather than US Treasuries has narrowed 81 basis points to 204. (source)

BANKING - Albaraka Turk Plans to Raise as Much as $750 Million in 2012

www.bloomberg.com - Albaraka Turk Katilim Bankasi AS (ALBRK), the Turkish unit of Bahrain’s AlBaraka Banking Group (BARKA), plans to raise as much as $750 million through syndicated financing and an Islamic bond sale this year, the group chief executive said.
The bank may raise between $400 million and $500 million from a so-called syndicated murabaha facility next week, CEO Adnan Yousif said in a telephone interview late yesterday from Alexandria, Egypt. The financing will mostly be in dollars, with some in euros, he said. The bank also plans to raise as much as $250 million from the sale of 7-year Islamic bonds this year. (source)

RATNGS - Standard and Poors reaffirms Albaraka Turk participation bank's credit rating

www.ameinfo.com - The rating signifies a positive view of Al Baraka Turk Participation Bank and its strong financial fundamentals and position in the Turkish market. The rating reaffirmation is also a confirmation of Al Baraka Turk Participation Bank's good performance that has been consistent over the years.

The Chairman of Al Baraka Turk Participation Bank Mr. Adnan Ahmed Yousif said "The reaffirmation of Al Baraka Turk Participation Bank's ratings by S&P is a considerable accomplishment and points to its strength as an institution that has shown significant flexibility in these times of financial and political uncertainty across the world.

"Al Baraka Turk Participation Bank's Board Member & General Manager Fahrettin Yahşi stated "The rating reaffirmation indicates the success of Al Baraka Turk in pursuing growth and development in all of its business lines despite the challenging market conditions both domestic and international."  (source)

BANKING - Al Baraka Turk Participation Bank net profits rise by nineteen per cent

www.cpifinancial.com - It also increased its equity by 19 per cent, total assets by 24 per cent, deposits by 25 per cent and financing and investments by 16 per cent in 2011.

The financial results of the bank showed an increase in total operating income by 25 per cent to TRY 530.9 million in 2011. After deducting expenses, provisions and taxes, net income increased by 19 per cent to TRY 160.5 million ($96 million) in 2011. (source)

BANKING - Al Baraka close to issue sukuk

www.hurriyetdailynews.com - Bahrain-based Al Baraka banking group, which operates in 15 countries including Turkey, Syria, Tunisia and Egypt, wants to increase the group’s profits by 15 percent in 2012 and issue $200 million in sukuk bonds for Al Baraka Turkey, the bank’s Turkey arm. (source)

BANKING - Al Baraka eyes more growth, Turkey Sukuk

www.tradearabia.com - Bahraini Islamic lender Al Baraka Banking Group aims for 15 per cent growth in net profit this year and plans to buy a 75 per cent stake in an unlisted Indonesian bank as part of its global expansion plan.

'We are in talks with Chinese shareholders of an Indonesian bank and hope to buy close to 75 per cent stake this year,' Adnan Ahmed Yousif, Al Baraka's chief executive, told Reuters in an interview.

'Our plan is to invest around $100 million in this deal,' he said, noting that the targeted bank, which he declined to name, is a conventional lender that will eventually be converted to Islamic.  (source)

CAPITAL MARKETS - Al Baraka's Turkish unit to issue $200 million sukuk

Bahraini lender Al Baraka Bank's Turkish subsidiary will go ahead with a $200 million Islamic bond issue in the first quarter, after delaying a sale last month due to pricing concerns, the bank's chief executive said.

"We will launch the sukuk in the first quarter of this year," Adnan Ahmed Yousif said in an interview on the sidelines of an Islamic finance and banking conference in Oman.  (source)

CAPITAL MARKETS - Al Baraka Turkish unit to issue $200m sukuk

www.tradearabia.com - Bahraini lender Al Baraka Bank's Turkish subsidiary will go ahead with a $200 million Islamic bond issue in the first quarter, after delaying a sale last month due to pricing concerns, the bank's chief executive said.

'We will launch the sukuk in the first quarter of this year,' Adnan Ahmed Yousif said in an interview on the sidelines of an Islamic finance and banking conference in Oman. (source)

CAPITAL MARKETS - Albaraka Turk may sell Sukuk later this year

www.gulfnews.com - Albaraka Banking
Albaraka Banking Group and its Turkish unit Albaraka Turk Katilim Bankasi may offer Islamic bonds, chief executive officer Adnan Yousuf said in Muscat yesterday. Albaraka Turk may sell the sukuk after earnings results are released and depending on market conditions, he said. The group may issue Islamic bonds at a later date, Yousuf said, without being more specific. The Manama, Bahrain-based company will have a presence in Oman by the end of 2014, he said. (source)

CAPITAL MARKETS - Albaraka Turk hopes to raise $200m in sukuk-CEO

Dec 11 (Reuters) - The Turkish unit of Bahrain's Albaraka Banking Group hopes to raise $200 million in an Islamic bond by the end of this week and is seeing interest from Asian and Arab Gulf investors, the group's chief executive said on Sunday.

"We're in the market for this sukuk and hope to raise $200 million by the end of this week," Adnan Yousif told Reuters.

"Pricing for the sukuk is very reasonable. It's in the 6 percent range," Yousif added.  (source)

CAPITAL MARKETS - Building Islamic Bonds – Bahrain’s Economy to Receive a Welcome Boost (Albaraka Turk)

english.gobalarabnetwork.com - Global Arab Network - With recent news of a planned new Islamic bond issue, Bahrain’s economy may be set to receive a welcome boost. The issuance may also come as a boon for the Gulf state’s financial services sector, which is a central part of its Economic Vision 2030, the long-term plan to promote the country as a leading regional and international financial centre, Global Arab Network reports according to OBG.  (source)

BANKING - Albaraka Turk names banks for sukuk roadshow

Nov 21 (Reuters) - Albaraka Banking Group's Turkish unit Albaraka Türk Katlm Bankas has mandated four banks on a series of investor meetings and may issue an Islamic bond as early as next month, a banker familiar with the matter said on Monday.

"Albaraka Turk mandated Deutsche Bank, Emirates NBD, Noor Islamic Bank and QInvest to arrange fixed income meetings in Asia, Europe and the Middle East starting Nov 26," the banker, who asked not to be named, told Reuters.  (source)

CAPITAL MARKETS - Albaraka Group, Turkey Unit to Sell $500 Million Sukuk in 2011

Businessweek.com - Sept. 24 (Bloomberg) -- Albaraka Banking Group BSC and its unit in Turkey may raise a total of $500 million in Islamic bonds this year, Chief Executive Officer Adnan Ahmed Yousif said.

Albaraka Turk Katilim Bankasi AS, the Shariah-compliant Turkish unit of the bank, may sell about $200 million in sukuk by November, while the Bahrain-based parent may raise about $300 million from a similar sale by the end of the year, Yousif said in an interview in Washington today.  (source)

CAPITAL MARKETS - FRANCE - Al Baraka to launch 100 mln euro bank in France by H1 2012 - Albaraka Turk to issue Sukuk

JEDDAH, Saudi Arabia, Aug 11 (Reuters) - Bahraini Islamic lender Al Baraka will expand to France next year and expects to launch a bank with a capital of 100 million euros ($142 million) by the first half of 2012, the bank's top official told Reuters.

Al Baraka had announced in 2009 its plan to launch operations in France but had to postpone it due to the financial crisis. (source)

BANKING - Turkey Equity Movers: Anel Elektrik, Albaraka Turk, Arcelik, Koc

Albaraka Turk Katilim Bankasi AS (ALBRK TI): The Turkish unit of Manama-based Albaraka Banking Group BSC plans to hire banks by the end of next week to raise $200 million with a murabaha Islamic syndicated loan, according the bank's group Chief Executive Officer, Adnan Ahmed Yousif. The shares were unchanged at 2.26 liras. (source)

BANKING - Albaraka Banking Group’s Egypt and Turkey Units to Raise Funds

Albaraka Banking Group (BARKA) BSC’s units in Egypt and Turkey are planning to sell Islamic bonds and seek a Shariah-compliant syndicated loan, Chief Executive Officer Adnan Ahmed Yousif said.

Al Baraka Bank Egypt ESC, the group’s Cairo-based arm, expects to raise 1 billion Egyptian pounds ($168 million) from the sale of 10-year Islamic bonds this summer. In Istanbul, Albaraka Turk Katilim Bankasi AS (ALBRK) plans to raise $200 million with a murabaha Islamic syndicated loan, Yousif said in a telephone interview yesterday. (source)

BANKING - Al Baraka Turk unit opens new Head Office

Source picture

Al Baraka Turk, one of the subsidiaries of Bahrain-based Al Baraka Banking Group has announced the opening of its head office in Turkey.    

 

The new head office was inaugurated by Turkish Prime Minister Recep Tayyip Erdogan.

 

"We see this magnificent building as a materialised symbol of our 25 years of successes and our bright future," said Al Baraka general manager Fahrettin Yahsi. 

"Many Arab banks are interested in Turkey and waiting in the queue to operate in the country," said Al Baraka Banking Group president and chief executive Adnan Yousif.

"Since the beginning of its operations in 1985, Al Baraka Turk managed to bring a different vision to the Turkish financial sector with its new financial model and understanding that it represents and is making breakthroughs with its vision to become the best participation bank in the world," he added.-TradeArabia News Service

BANKING - Al Baraka eyes $300 mln sukuk, further expansion - Albaraka Turk set for $250 mln sukuk

Sees $300 mln sukuk by Sept, no plans for sukuk programme; CEO says reviewing Oman Islamic banking prospects; Nomura Bank mandated as advisor for Islamic megabank

Bahrain's Al Baraka Bank expects to sell $300 million worth of Islamic bonds by September as it looks to secure long-term financing to fund its expansion plans, its chief executive said on Wednesday.

Previous plans to issue Islamic bonds, or sukuk, were thwarted by the onset of the financial crisis and, more recently, the regional unrest, said Adnan Ahmed Yousif in an interview with Reuters.

The Islamic lender had previously announced plans for a $500 million sukuk programme but had shelved that, he said. (full story)

BANKING - Turkish delight for UAB

According to the Today's Zaman website Adnan Yousif, chairman of UAB has said that banks from the Gulf are looking for Turkish banks to acquire. Yousif was speaking at the Enhancing Shamgen Banking: Turkey, Syria, Lebanon and Jordan conference in İstanbul when he indicated that big Arab banks such as Al Rajah Bank, Qatar National Bank and Abu Dhabi Islamic Bank were seeking opportunities to become established in Turkey by purchasing a national bank. (full story)

BANKING - Al Baraka Turkey unit's operating income rises

MANAMA: Al Baraka Turk Participation Bank, a subsidiary banking unit of Al Baraka Banking Group, showed an increase in total operating income of three per cent to $281 million in 2010. After deducting expenses, provisions and taxes, net income increased by 35pc to $94m for the period.

"We are very pleased with the excellent results that the bank achieved in 2010," said Al Baraka Banking Group president and chief executive Adnan Ahmed Yousif.  (full story)